Brown Brothers Harriman & Co. Sells 12,794 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Brown Brothers Harriman & Co. reduced its position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 56.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,968 shares of the industrial products company's stock after selling 12,794 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in Worthington Enterprises were worth $413,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Creative Planning increased its stake in Worthington Enterprises by 2.0% in the 2nd quarter. Creative Planning now owns 12,160 shares of the industrial products company's stock worth $576,000 after acquiring an additional 244 shares during the last quarter. Comerica Bank increased its position in shares of Worthington Enterprises by 0.5% in the first quarter. Comerica Bank now owns 46,919 shares of the industrial products company's stock worth $2,920,000 after purchasing an additional 250 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Worthington Enterprises by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the industrial products company's stock worth $729,000 after purchasing an additional 300 shares during the last quarter. KBC Group NV raised its stake in Worthington Enterprises by 45.1% in the third quarter. KBC Group NV now owns 1,136 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 353 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Worthington Enterprises by 10.9% during the second quarter. Hsbc Holdings PLC now owns 4,531 shares of the industrial products company's stock valued at $214,000 after purchasing an additional 445 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WOR. Canaccord Genuity Group lowered their price objective on shares of Worthington Enterprises from $52.00 to $46.00 and set a "hold" rating on the stock in a research report on Thursday, September 26th. Canaccord Genuity Group restated a "hold" rating and set a $46.00 price target on shares of Worthington Enterprises in a research report 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 analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $45.00.

Insider Buying and Selling

In other Worthington Enterprises news, CFO Joseph B. Hayek acquired 2,500 shares of the business's stock in a transaction on Friday, October 11th. The shares were acquired at an average price of $40.21 per share, for a total transaction of $100,525.00. Following the completion of the acquisition, the chief financial officer now owns 168,875 shares in the company, valued at $6,790,463.75. This trade represents a 1.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 37.50% of the stock is owned by insiders.

Worthington Enterprises Trading Up 1.1 %

Shares of WOR stock traded up $0.46 on Thursday, hitting $40.63. 105,969 shares of the company's stock traded hands, compared to its average volume of 183,875. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 53.46 and a beta of 1.26. The company's fifty day simple moving average is $40.88 and its 200 day simple moving average is $46.16. Worthington Enterprises, Inc. has a one year low of $38.24 and a one year high of $69.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47.

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

Worthington Enterprises Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.67%. Worthington Enterprises's dividend payout ratio is presently 89.47%.

Worthington Enterprises 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.