Jupiter Asset Management Ltd. Buys Shares of 19,670 Worthington Enterprises, Inc. $WOR

Jupiter Asset Management Ltd. bought a new stake in Worthington Enterprises, Inc. (NYSE:WOR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,670 shares of the industrial products company’s stock, valued at approximately $1,014,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB acquired a new position in Worthington Enterprises in the fourth quarter valued at about $2,914,000. Essex Investment Management Co. LLC acquired a new position in Worthington Enterprises in the third quarter valued at about $3,059,000. Fisher Asset Management LLC grew its stake in Worthington Enterprises by 19.4% in the third quarter. Fisher Asset Management LLC now owns 343,591 shares of the industrial products company’s stock valued at $19,066,000 after acquiring an additional 55,917 shares during the period. M&T Bank Corp grew its stake in Worthington Enterprises by 233.4% in the fourth quarter. M&T Bank Corp now owns 32,561 shares of the industrial products company’s stock valued at $1,679,000 after acquiring an additional 22,795 shares during the period. Finally, VELA Investment Management LLC grew its stake in Worthington Enterprises by 103.0% in the fourth quarter. VELA Investment Management LLC now owns 78,306 shares of the industrial products company’s stock valued at $4,038,000 after acquiring an additional 39,725 shares during the period. 51.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $69.00 target price on shares of Worthington Enterprises in a research note on Thursday, March 26th. Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a report on Monday, April 20th. Finally, Wall Street Zen lowered Worthington Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $61.00.

Worthington Enterprises Stock Performance

Shares of Worthington Enterprises stock opened at $56.70 on Friday. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 25.20 and a beta of 1.28. The stock’s 50-day moving average is $53.78 and its 200-day moving average is $54.09. Worthington Enterprises, Inc. has a one year low of $45.01 and a one year high of $70.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.36 and a quick ratio of 1.44.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings results on Tuesday, March 24th. The industrial products company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. The company had revenue of $378.68 million for the quarter, compared to analyst estimates of $349.41 million. Worthington Enterprises had a return on equity of 17.74% and a net margin of 8.42%.The company’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. Equities analysts predict that Worthington Enterprises, Inc. will post 3.41 earnings per share for the current fiscal year.

Worthington Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, June 15th. Worthington Enterprises’s dividend payout ratio is presently 33.78%.

Worthington Enterprises 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.