VELA Investment Management LLC Buys 39,725 Shares of Worthington Enterprises, Inc. $WOR

VELA Investment Management LLC raised its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 103.0% during the 4th quarter, Holdings Channel reports. The fund owned 78,306 shares of the industrial products company’s stock after purchasing an additional 39,725 shares during the period. Worthington Enterprises comprises approximately 1.0% of VELA Investment Management LLC’s holdings, making the stock its 29th largest position. VELA Investment Management LLC’s holdings in Worthington Enterprises were worth $4,038,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Hantz Financial Services Inc. boosted its position in Worthington Enterprises by 61.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 525 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 199 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Worthington Enterprises by 1.3% during the 4th quarter. State of Alaska Department of Revenue now owns 19,385 shares of the industrial products company’s stock valued at $999,000 after acquiring an additional 240 shares in the last quarter. Fifth Third Bancorp boosted its position in Worthington Enterprises by 2.0% during the 3rd quarter. Fifth Third Bancorp now owns 13,557 shares of the industrial products company’s stock valued at $752,000 after acquiring an additional 267 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in Worthington Enterprises by 1.7% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 16,463 shares of the industrial products company’s stock valued at $914,000 after acquiring an additional 279 shares in the last quarter. Finally, Daymark Wealth Partners LLC boosted its position in Worthington Enterprises by 6.7% during the 3rd quarter. Daymark Wealth Partners LLC now owns 4,800 shares of the industrial products company’s stock valued at $266,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 51.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

Worthington Enterprises Stock Up 0.2%

Worthington Enterprises stock opened at $54.37 on Friday. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 24.16 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.36 and a quick ratio of 1.44. The business has a fifty day moving average price of $52.76 and a 200-day moving average price of $54.27. Worthington Enterprises, Inc. has a 1-year low of $45.01 and a 1-year high of $70.91.

Worthington Enterprises (NYSE:WOR) last issued its earnings results on Tuesday, March 24th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. The company had revenue of $378.68 million during 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 firm’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. Equities research analysts forecast that Worthington Enterprises, Inc. will post 3.41 EPS for the current fiscal year.

Worthington Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $0.19 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. Worthington Enterprises’s dividend payout ratio (DPR) is 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.