Frazier Financial Advisors LLC Invests $839,000 in Worthington Enterprises, Inc. $WOR

Frazier Financial Advisors LLC bought a new stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 15,606 shares of the industrial products company’s stock, valued at approximately $839,000. Worthington Enterprises comprises about 0.4% of Frazier Financial Advisors LLC’s investment portfolio, making the stock its 24th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in shares of Worthington Enterprises by 4.5% during the first quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock worth $650,000 after purchasing an additional 554 shares during the period. AQR Capital Management LLC bought a new position in Worthington Enterprises during the 1st quarter valued at approximately $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Worthington Enterprises by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company’s stock valued at $937,000 after purchasing an additional 793 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Worthington Enterprises by 54.9% during the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock valued at $17,656,000 after acquiring an additional 124,867 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Worthington Enterprises by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company’s stock worth $11,143,000 after purchasing an additional 7,575 shares during the period. 51.59% of the stock is currently owned by institutional investors.

Insider Activity

In other Worthington Enterprises news, major shareholder John P/Oh Mcconnell sold 17,625 shares of Worthington Enterprises stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.04, for a total value of $934,830.00. Following the sale, the insider directly owned 1,335,648 shares in the company, valued at approximately $70,842,769.92. The trade was a 1.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.50% of the stock is currently owned by insiders.

Worthington Enterprises Price Performance

NYSE:WOR opened at $57.52 on Thursday. The business’s 50-day simple moving average is $56.66 and its two-hundred day simple moving average is $55.24. Worthington Enterprises, Inc. has a 52 week low of $45.01 and a 52 week high of $67.80. The stock has a market cap of $2.81 billion, a PE ratio of 18.32 and a beta of 1.28. The company has a quick ratio of 1.43, a current ratio of 2.37 and a debt-to-equity ratio of 0.30.

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

Worthington Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.20 per share. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.4%. Worthington Enterprises’s payout ratio is 24.20%.

Wall Street Analysts Forecast Growth

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

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.