Bridgewater Associates LP Decreases Stake in Worthington Enterprises, Inc. (NYSE:WOR)

Bridgewater Associates LP decreased its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 61.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,290 shares of the industrial products company's stock after selling 30,148 shares during the period. Bridgewater Associates LP's holdings in Worthington Enterprises were worth $800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WOR. American Century Companies Inc. lifted its holdings in Worthington Enterprises by 43.7% in the 2nd quarter. American Century Companies Inc. now owns 568,678 shares of the industrial products company's stock valued at $26,916,000 after purchasing an additional 172,850 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Worthington Enterprises by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 493,280 shares of the industrial products company's stock valued at $20,446,000 after purchasing an additional 18,480 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Worthington Enterprises by 19.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 155,291 shares of the industrial products company's stock valued at $7,350,000 after purchasing an additional 24,885 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in Worthington Enterprises by 18.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 117,902 shares of the industrial products company's stock valued at $4,887,000 after purchasing an additional 18,154 shares in the last quarter. Finally, Denali Advisors LLC lifted its holdings in Worthington Enterprises by 38.0% in the 2nd quarter. Denali Advisors LLC now owns 111,800 shares of the industrial products company's stock valued at $5,291,000 after purchasing an additional 30,779 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WOR shares. Canaccord Genuity Group decreased their price objective on Worthington Enterprises from $52.00 to $46.00 and set a "hold" rating on the stock in a report on Thursday, September 26th. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $46.00 target price on shares of Worthington Enterprises in a research note on Friday, October 4th. Finally, StockNews.com raised Worthington Enterprises from a "sell" rating to a "hold" rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, Worthington Enterprises currently has an average rating of "Hold" and an average price target of $45.00.

Worthington Enterprises Trading Down 1.1 %

Shares of NYSE:WOR traded down $0.48 during midday trading on Tuesday, reaching $41.38. 114,193 shares of the company's stock were exchanged, compared to its average volume of 274,763. The firm's 50 day simple moving average is $40.60 and its two-hundred day simple moving average is $45.68. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 2.34. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 54.50 and a beta of 1.26. Worthington Enterprises, Inc. has a fifty-two week low of $38.24 and a fifty-two week high of $69.96.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its quarterly earnings data on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.21). The business had revenue of $257.31 million for the quarter, compared to analyst estimates of $296.05 million. Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The firm's revenue for the quarter was down 17.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.06 earnings per share.

Worthington Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, December 13th. Worthington Enterprises's payout ratio is 89.47%.

Insider Buying and Selling

In other news, CFO Joseph B. Hayek bought 2,500 shares of the company's stock in a transaction on Friday, October 11th. The stock was bought at an average cost of $40.21 per share, with a total value of $100,525.00. Following the transaction, the chief financial officer now directly owns 168,875 shares in the company, valued at $6,790,463.75. The trade was a 1.50 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 37.50% of the company's stock.

Worthington Enterprises Company Profile

Worthington Enterprises, Inc operates as an industrial manufacturing company. It operates through three segments: Building Products, Consumer Products, and Sustainable Energy Solutions. The Building Products segment sells refrigerant and LPG cylinders, well water and expansion tanks, fire suppression tanks, chemical tanks, and foam and adhesive tanks for gas producers, and distributors.