Worthington Enterprises, Inc. (NYSE:WOR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position 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 period. Principal Financial Group Inc. owned about 0.29% of Worthington Enterprises worth $6,101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WOR. 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 buying an additional 391 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Worthington Enterprises by 39.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,242 shares of the industrial products company's stock valued at $791,000 after purchasing an additional 3,450 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in 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 purchasing an additional 2,455 shares in the last quarter. EntryPoint Capital LLC lifted its position 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 buying an additional 1,238 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Worthington Enterprises by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,682 shares of the industrial products company's stock valued at $1,225,000 after buying an additional 1,119 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WOR has been the subject of several research reports. Canaccord Genuity Group reissued a "hold" rating and issued a $46.00 target price on shares of Worthington Enterprises in a report on Friday, October 4th. StockNews.com upgraded shares of Worthington Enterprises from a "sell" rating to a "hold" rating in a research report on Wednesday, September 25th. Finally, Canaccord Genuity Group dropped their target price on Worthington Enterprises from $52.00 to $46.00 and set a "hold" rating on the stock in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, Worthington Enterprises has an average rating of "Hold" and a consensus price target of $45.00.

Worthington Enterprises Price Performance

Worthington Enterprises stock traded up $0.75 during midday trading on Thursday, reaching $39.36. 47,251 shares of the company were exchanged, compared to its average volume of 278,492. The firm's 50-day simple moving average is $41.35 and its 200-day simple moving average is $46.81. Worthington Enterprises, Inc. has a 1 year low of $38.24 and a 1 year high of $69.96. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 50.80 and a beta of 1.26. 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 posted its quarterly earnings data on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.21). The firm had revenue of $257.31 million during the quarter, compared to analyst estimates of $296.05 million. Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The business's quarterly revenue was down 17.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.06 EPS.

Worthington Enterprises Dividend Announcement

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 given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Friday, December 13th. Worthington Enterprises's dividend payout ratio is currently 89.47%.

Insider Buying and Selling

In other news, CFO Joseph B. Hayek purchased 2,500 shares of the stock in a transaction on Friday, October 11th. The stock was purchased at an average price of $40.21 per share, with a total value of $100,525.00. Following the completion of the transaction, the chief financial officer now owns 168,875 shares in the company, valued at approximately $6,790,463.75. The trade was a 1.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 37.50% of the stock is currently owned by company insiders.

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.