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

G2 Capital Management LLC OH bought a new position in Worthington Enterprises, Inc. (NYSE:WOR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,810 shares of the industrial products company’s stock, valued at approximately $635,000. Worthington Enterprises makes up about 0.1% of G2 Capital Management LLC OH’s holdings, making the stock its 23rd largest position.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Worthington Enterprises during the second quarter valued at approximately $283,372,000. Fort Washington Investment Advisors Inc. OH bought a new position in Worthington Enterprises in the 1st quarter worth $23,824,000. Bank of New York Mellon Corp purchased a new position in Worthington Enterprises during the second quarter valued at $18,376,000. Windsor Advisory Group LLC purchased a new position in Worthington Enterprises during the third quarter valued at $16,319,000. Finally, Keybank National Association OH bought a new stake in Worthington Enterprises during the fourth quarter valued at about $10,749,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Price Performance

NYSE:WOR opened at $56.86 on Friday. The business’s 50-day simple moving average is $56.56 and its two-hundred day simple moving average is $55.25. 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 $2.78 billion, a PE ratio of 18.11 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 quarterly earnings data on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The business had revenue of $371.46 million during the quarter, compared to the consensus estimate of $386.49 million. During the same period last year, the company earned $1.06 EPS. The business’s revenue was up 16.9% on a year-over-year basis. As a group, analysts forecast that Worthington Enterprises, Inc. will post 3.85 EPS for the current fiscal year.

Worthington Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.20 dividend. 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%. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.19. Worthington Enterprises’s payout ratio is presently 25.48%.

Insiders Place Their Bets

In other Worthington Enterprises news, major shareholder John P/Oh Mcconnell sold 41,704 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $55.85, for a total value of $2,329,168.40. Following the completion of the transaction, the insider directly owned 1,335,648 shares in the company, valued at $74,595,940.80. This represents a 3.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

WOR has been the subject of a number of analyst reports. Canaccord Genuity Group reduced their price target on Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Wall Street Zen cut Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings reiterated 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 issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.50.

About Worthington Enterprises

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.