Verition Fund Management LLC Makes New Investment in Worthington Enterprises, Inc. (NYSE:WOR)

Verition Fund Management LLC purchased a new position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 24,460 shares of the industrial products company's stock, valued at approximately $1,014,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning increased its stake in Worthington Enterprises by 2.0% during the second 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. Louisiana State Employees Retirement System lifted its position in 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 buying an additional 300 shares during the last quarter. KBC Group NV boosted its stake in Worthington Enterprises by 45.1% during the third quarter. KBC Group NV now owns 1,136 shares of the industrial products company's stock worth $47,000 after buying an additional 353 shares during the period. Hsbc Holdings PLC increased 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 acquiring an additional 445 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Worthington Enterprises by 2.7% in the second quarter. The Manufacturers Life Insurance Company now owns 17,718 shares of the industrial products company's stock valued at $839,000 after acquiring an additional 462 shares during the period. Institutional investors own 51.59% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WOR shares. Canaccord Genuity Group decreased their price target on Worthington Enterprises from $52.00 to $46.00 and set a "hold" rating for the company in a research note on Thursday, September 26th. Canaccord Genuity Group reiterated a "hold" rating and set a $46.00 target price on shares of Worthington Enterprises in a research report on Friday, October 4th. Finally, StockNews.com upgraded shares of Worthington Enterprises from a "sell" rating to a "hold" rating in a report on Wednesday, September 25th.

Insider Buying and Selling

In related news, CFO Joseph B. Hayek purchased 2,500 shares of Worthington Enterprises stock in a transaction that occurred on Friday, October 11th. The stock was bought at an average cost of $40.21 per share, for a total transaction of $100,525.00. Following the completion of the transaction, the chief financial officer now owns 168,875 shares in the company, valued at $6,790,463.75. The trade was a 1.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 37.50% of the stock is currently owned by corporate insiders.

Worthington Enterprises Stock Performance

Shares of WOR traded up $0.67 during trading hours on Monday, reaching $41.50. 171,853 shares of the company traded hands, compared to its average volume of 273,269. The company has a quick ratio of 2.34, a current ratio of 3.47 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average price of $40.52 and a 200-day moving average price of $45.10. Worthington Enterprises, Inc. has a 12-month low of $38.24 and a 12-month high of $69.96. The stock has a market capitalization of $2.09 billion, a P/E ratio of 54.61 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its quarterly earnings data on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share (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 quarter in the previous year, the business earned $2.06 earnings per share. The company's revenue for the quarter was down 17.5% compared to the same quarter last year.

Worthington Enterprises Announces Dividend

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