Edgestream Partners L.P. Trims Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

Edgestream Partners L.P. lessened its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 31.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,132 shares of the industrial products company's stock after selling 20,510 shares during the period. Edgestream Partners L.P. owned 0.09% of Worthington Enterprises worth $1,829,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. KBC Group NV boosted its holdings in shares of Worthington Enterprises by 45.1% during the 3rd quarter. KBC Group NV now owns 1,136 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 353 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Worthington Enterprises in the 2nd quarter valued at about $57,000. nVerses Capital LLC acquired a new position in shares of Worthington Enterprises in the 3rd quarter valued at about $83,000. Eastern Bank acquired a new position in shares of Worthington Enterprises in the 3rd quarter valued at about $121,000. Finally, MQS Management LLC bought a new stake in Worthington Enterprises in the 2nd quarter valued at about $208,000. Institutional investors own 51.59% of the company's stock.

Insider Activity at Worthington Enterprises

In other news, CFO Joseph B. Hayek bought 2,500 shares of the stock in a transaction 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 purchase, the chief financial officer now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 37.50% of the stock is owned by insiders.

Worthington Enterprises Stock Up 0.4 %

Shares of WOR traded up $0.17 during mid-day trading on Wednesday, reaching $41.55. The company had a trading volume of 177,981 shares, compared to its average volume of 274,641. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47. The firm has a 50-day moving average price of $40.53 and a 200 day moving average price of $45.56. Worthington Enterprises, Inc. has a 52 week low of $38.24 and a 52 week high of $69.96. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 54.45 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted 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 company had revenue of $257.31 million during the quarter, compared to analysts' expectations of $296.05 million. Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The company's revenue for the quarter was down 17.5% on a year-over-year basis. During the same quarter last year, the company earned $2.06 earnings per share.

Worthington Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Friday, December 13th. Worthington Enterprises's payout ratio is 89.47%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. StockNews.com raised Worthington Enterprises from a "sell" rating to a "hold" rating in a report on Wednesday, September 25th. Canaccord Genuity Group reduced 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. Finally, Canaccord Genuity Group reiterated a "hold" rating and issued a $46.00 price objective on shares of Worthington Enterprises in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $45.00.

About Worthington Enterprises

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.