Pacer Advisors Inc. cut its position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 38.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,614,162 shares of the industrial products company's stock after selling 1,019,191 shares during the quarter. Pacer Advisors Inc. owned about 3.21% of Worthington Enterprises worth $66,907,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in WOR. KBC Group NV boosted its stake in Worthington Enterprises by 45.1% in the 3rd 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 during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Worthington Enterprises during the 2nd quarter valued at $57,000. EntryPoint Capital LLC grew its holdings in shares of Worthington Enterprises by 255.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company's stock worth $107,000 after purchasing an additional 1,238 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Worthington Enterprises in the third quarter worth $83,000. Finally, SG Americas Securities LLC raised its stake in Worthington Enterprises by 19.7% in the first quarter. SG Americas Securities LLC now owns 2,376 shares of the industrial products company's stock valued at $148,000 after purchasing an additional 391 shares in the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Worthington Enterprises
In related news, CFO Joseph B. Hayek purchased 2,500 shares of the company's stock in a transaction dated Friday, October 11th. The shares were purchased at an average price of $40.21 per share, with a total value of $100,525.00. Following the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 37.50% of the stock is currently owned by corporate insiders.
Worthington Enterprises Trading Up 2.1 %
Shares of WOR traded up $0.85 during trading hours on Friday, hitting $40.42. The company had a trading volume of 127,927 shares, compared to its average volume of 278,349. The firm has a market cap of $2.03 billion, a P/E ratio of 52.04 and a beta of 1.26. Worthington Enterprises, Inc. has a 52-week low of $38.24 and a 52-week high of $69.96. The stock's 50 day moving average price is $41.26 and its 200 day moving average price is $46.76. The company has a quick ratio of 2.34, a current ratio of 3.47 and a debt-to-equity ratio of 0.33.
Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $257.31 million for the quarter, compared to the consensus estimate of $296.05 million. Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The business's revenue was down 17.5% on a year-over-year basis. During the same period last year, the company posted $2.06 earnings per share.
Worthington Enterprises Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, December 13th. Worthington Enterprises's dividend payout ratio is currently 89.47%.
Analysts Set New Price Targets
Several equities analysts have 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 on the stock in a research note on Thursday, September 26th. Canaccord Genuity Group reiterated a "hold" rating and set a $46.00 price target on shares of Worthington Enterprises in a report on Friday, October 4th. Finally, StockNews.com raised Worthington Enterprises from a "sell" rating to a "hold" rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $45.00.
Get Our Latest Analysis on WOR
About Worthington Enterprises
(
Free Report)
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.
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