G2 Capital Management LLC OH Acquires Shares of 11,810 Worthington Enterprises, Inc. $WOR

G2 Capital Management LLC OH acquired a new stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) in the second quarter, HoldingsChannel reports. The firm acquired 11,810 shares of the industrial products company’s stock, valued at approximately $635,000. Worthington Enterprises accounts for approximately 0.1% of G2 Capital Management LLC OH’s holdings, making the stock its 23rd biggest holding.

Several other large investors have also recently made changes to their positions in the company. Allworth Financial LP lifted its position in shares of Worthington Enterprises by 872.0% in the fourth quarter. Allworth Financial LP now owns 486 shares of the industrial products company’s stock worth $25,000 after buying an additional 436 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Worthington Enterprises during the 1st quarter valued at approximately $25,000. McMillan Office Inc. bought a new stake in Worthington Enterprises in the 4th quarter worth approximately $31,000. Farther Finance Advisors LLC increased its stake in Worthington Enterprises by 81.3% in the 4th quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 304 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Worthington Enterprises by 57.3% during the 1st quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 263 shares in the last quarter. 51.59% of the stock is owned by institutional investors.

Worthington Enterprises Price Performance

Shares of Worthington Enterprises stock opened at $56.86 on Friday. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 18.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 2.37. The stock has a 50 day moving average price of $56.56 and a 200-day moving average price of $55.25. Worthington Enterprises, Inc. has a one year low of $45.01 and a one year high of $67.80.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.07). The company had revenue of $371.46 million for the quarter, compared to analysts’ expectations of $386.49 million. Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The business’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.06 EPS. Equities analysts expect that Worthington Enterprises, Inc. will post 3.85 EPS for the current year.

Worthington Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.20 dividend. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Worthington Enterprises’s payout ratio is currently 25.48%.

Insider Buying and Selling at Worthington Enterprises

In other news, major shareholder John P/Oh Mcconnell sold 17,625 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.04, for a total value of $934,830.00. Following the completion of the sale, the insider owned 1,335,648 shares in the company, valued at approximately $70,842,769.92. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

WOR has been the subject of a number of research reports. Wall Street Zen downgraded Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Canaccord Genuity Group reduced their price target on shares of Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research note on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.50.

Worthington Enterprises Company Profile

Worthington Enterprises (NYSE:WOR) is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company’s portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi?division organization with operations in the United States, Canada and Mexico.