24,004 Shares in Worthington Enterprises, Inc. $WOR Purchased by Riverwater Partners LLC

Riverwater Partners LLC purchased a new position in Worthington Enterprises, Inc. (NYSE:WOR) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 24,004 shares of the industrial products company’s stock, valued at approximately $1,332,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Worthington Enterprises by 693.6% in the second quarter. EverSource Wealth Advisors LLC now owns 619 shares of the industrial products company’s stock worth $39,000 after buying an additional 541 shares in the last quarter. ORG Partners LLC lifted its stake in Worthington Enterprises by 61.0% in the 2nd quarter. ORG Partners LLC now owns 660 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 250 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Worthington Enterprises during the second quarter valued at about $46,000. CWM LLC increased its holdings in shares of Worthington Enterprises by 33.5% in the second quarter. CWM LLC now owns 813 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 204 shares during the last quarter. Finally, Amplify Investments LLC lifted its position in shares of Worthington Enterprises by 27.7% in the third quarter. Amplify Investments LLC now owns 1,484 shares of the industrial products company’s stock worth $82,000 after buying an additional 322 shares in the last quarter. Institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Trading Up 0.7%

WOR stock opened at $53.37 on Tuesday. Worthington Enterprises, Inc. has a twelve month low of $39.05 and a twelve month high of $70.91. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 25.17 and a beta of 1.34. The company has a quick ratio of 2.26, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. The firm’s fifty day simple moving average is $53.93 and its two-hundred day simple moving average is $58.04.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results on Tuesday, December 16th. The industrial products company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The firm had revenue of $327.45 million for the quarter, compared to analysts’ expectations of $310.60 million. Worthington Enterprises had a return on equity of 17.70% and a net margin of 8.46%.Worthington Enterprises’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. As a group, analysts anticipate that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. Worthington Enterprises’s payout ratio is presently 35.85%.

Analyst Ratings Changes

WOR has been the topic of a number of research reports. Wall Street Zen raised Worthington Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research note on Wednesday, January 21st. Finally, Canaccord Genuity Group dropped their price objective on shares of Worthington Enterprises from $73.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.00.

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.