Deutsche Bank AG Buys New Holdings in Worthington Enterprises, Inc. $WOR

Deutsche Bank AG bought a new position in Worthington Enterprises, Inc. (NYSE:WOR) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 50,095 shares of the industrial products company’s stock, valued at approximately $2,693,000.

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of Worthington Enterprises by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 768,013 shares of the industrial products company’s stock worth $39,613,000 after acquiring an additional 4,745 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Worthington Enterprises by 67.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 481,541 shares of the industrial products company’s stock valued at $26,721,000 after acquiring an additional 193,319 shares during the period. Windsor Advisory Group LLC boosted its stake in shares of Worthington Enterprises by 23.5% in the 1st quarter. Windsor Advisory Group LLC now owns 459,633 shares of the industrial products company’s stock valued at $23,965,000 after purchasing an additional 87,351 shares in the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Worthington Enterprises in the 1st quarter valued at $23,824,000. Finally, Fisher Asset Management LLC grew its holdings in shares of Worthington Enterprises by 27.1% in the 4th quarter. Fisher Asset Management LLC now owns 436,731 shares of the industrial products company’s stock worth $22,522,000 after purchasing an additional 93,140 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

Worthington Enterprises Stock Up 0.0%

Shares of WOR stock opened at $57.98 on Friday. 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 $2.84 billion, a price-to-earnings ratio of 18.47 and a beta of 1.28. The firm’s 50-day moving average is $56.39 and its 200-day moving average is $55.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 2.37.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The company had revenue of $371.46 million during the quarter, compared to analyst estimates of $386.49 million. Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the company posted $1.06 EPS. Sell-side analysts predict that Worthington Enterprises, Inc. will post 3.85 EPS for the current year.

Worthington Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 annualized dividend and a yield of 1.4%. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.19. Worthington Enterprises’s dividend payout ratio is 25.48%.

Insider Activity

In other news, major shareholder John P/Oh Mcconnell sold 41,704 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $55.85, for a total value of $2,329,168.40. Following the transaction, the insider owned 1,335,648 shares in the company, valued at approximately $74,595,940.80. The trade was a 3.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WOR. Wall Street Zen cut shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Friday, July 17th. Finally, Canaccord Genuity Group reduced their target price on shares of Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.