Fifth Third Bancorp Grows Holdings in Worthington Enterprises, Inc. $WOR

Fifth Third Bancorp boosted its position in Worthington Enterprises, Inc. (NYSE:WOR) by 225.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 43,044 shares of the industrial products company’s stock after acquiring an additional 29,836 shares during the quarter. Fifth Third Bancorp’s holdings in Worthington Enterprises were worth $2,244,000 as of its most recent SEC filing.

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

Worthington Enterprises Stock Up 1.6%

Shares of NYSE:WOR opened at $54.83 on Wednesday. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 17.46 and a beta of 1.29. Worthington Enterprises, Inc. has a 1-year low of $45.01 and a 1-year high of $67.80. The company’s fifty day moving average is $56.24 and its two-hundred day moving average is $54.66. 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 posted its quarterly earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.07). Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The business had revenue of $371.46 million during the quarter, compared to analyst estimates of $386.49 million. During the same period last year, the firm posted $1.06 earnings per share. The company’s quarterly revenue was up 16.9% on a year-over-year basis. Equities analysts anticipate 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. Shareholders of record on Tuesday, September 15th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, September 15th. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.5%. Worthington Enterprises’s payout ratio is presently 24.20%.

Wall Street Analysts Forecast Growth

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

Worthington Enterprises Company 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.