Principal Financial Group Inc. Has $6.10 Million Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

Principal Financial Group Inc. reduced its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 11.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 147,195 shares of the industrial products company's stock after selling 18,371 shares during the quarter. Principal Financial Group Inc. owned approximately 0.29% of Worthington Enterprises worth $6,101,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Worthington Enterprises by 19.7% during the 1st 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 during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Worthington Enterprises by 39.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 12,242 shares of the industrial products company's stock worth $791,000 after buying an additional 3,450 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Worthington Enterprises by 9.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 28,176 shares of the industrial products company's stock worth $1,752,000 after buying an additional 2,455 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Worthington Enterprises by 255.3% during the first quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company's stock worth $107,000 after buying an additional 1,238 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Worthington Enterprises by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,682 shares of the industrial products company's stock worth $1,225,000 after buying an additional 1,119 shares in the last quarter. 51.59% of the stock is owned by institutional investors.

Worthington Enterprises Stock Up 0.3 %

Shares of NYSE WOR opened at $38.61 on Thursday. 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, Inc. has a 52 week low of $38.24 and a 52 week high of $69.96. The stock has a market capitalization of $1.94 billion, a P/E ratio of 50.80 and a beta of 1.26. The stock's fifty day moving average is $41.45 and its 200 day moving average is $46.87.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its earnings results 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). Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The business had revenue of $257.31 million during the quarter, compared to the consensus estimate of $296.05 million. During the same quarter in the prior year, the firm earned $2.06 EPS. The business's revenue was down 17.5% on a year-over-year basis.

Worthington Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Friday, December 13th. Worthington Enterprises's dividend payout ratio is presently 89.47%.

Analysts Set New Price Targets

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

Insider Transactions at Worthington Enterprises

In other news, CFO Joseph B. Hayek purchased 2,500 shares of Worthington Enterprises stock in a transaction dated Friday, October 11th. The shares were bought at an average cost 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 approximately $6,790,463.75. This trade represents a 1.50 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 37.50% of the company's stock.

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.