WOR - Worthington Enterprises: A Small Reshuffling (Rating Upgrade)

2024-05-30 11:25:29 ET

Summary

• Worthington Enterprises, Inc. is a diversified industrial manufacturer with a unique business model, including profitable joint ventures.
• The company split itself into Worthington Enterprises and Worthington Steel, with both businesses trading at appealing valuations.
• Shares have risen quickly since the separation, but have fallen a bit recently, creating potential to add shares on dips in this quality long-term compounder.

In March, I believed that a valuation re-rating post the separation was warranted in the case of Worthington Enterprises, Inc. ( WOR ) . Shares have risen some 30% since the business was separated from Worthington Steel ( WS ) late in 2023, creating real value for investors....

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