WOR

Worthington Industries, Inc.

Industrial/Transportation


Presented:01/10/2024
Price:$55.04
Cap:$2.75B
Current Price:$40.31
Cap:$2.03B

Presented

Date01/10/2024
Price$55.04
Market Cap$2.75B
Ent Value$4.01B
P/E Ratio9.24x
Book Value$36.38
Div Yield1.41%
Shares O/S49.97M
Ave Daily Vol511,938
Short Int7.34%

Current

Price$40.31
Market Cap$2.03B
Worthington Enterprises, Inc. engages in the manufacturing of metal products. It operates through the following segments: Steel Processing, Consumer Products, Building Products, and Sustainable Energy Solutions. The Steel Processing segment provides carbon flat-rolled steel, a producer of laser welded solutions, and a provider of electrical steel laminations. The Consumer Products segment consists of products in the tools, outdoor living, and celebrations end markets with owned and licensed brands. The Building Products segment sells refrigerant and LPG cylinders, well water and expansion tanks, and other specialty products. The Sustainable Energy Solutions segment refers to selling onboard fueling systems and related services, as well as gas containment solutions and services for the storage, transport, and distribution of industrial gases. The company was founded by John H. McConnell in 1955 and is headquartered in Columbus, OH.

Publicly traded companies mentioned herein: Worthington Enterprises Inc (WOR)

Highlights

The presenter is long shares of Worthington Enterprises Inc (WOR), a market-leading designer and manufacturer of innovative building products including cylinder storage tanks, suspended ceiling products and metal framing. The company recently completed its spin-off of Worthington Steel on December 1, 2023, which the presenter sees as an opportunity with WOR not reporting updated financials yet. Given this dynamic the company trades at roughly 8x EBITDA and 11x EPS next year. He views this as cheap and expects the company to rerate to a mid-to-high teens EBITDA multiple as investors discover improved EBITDA margins on the RemainCo. 

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Idea Discussion

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