Public Sector Pension Investment Board Reduces Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

Public Sector Pension Investment Board decreased its position in Worthington Enterprises, Inc. (NYSE:WOR) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,943 shares of the industrial products company’s stock after selling 1,400 shares during the period. Public Sector Pension Investment Board’s holdings in Worthington Enterprises were worth $2,733,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WOR. KBC Group NV boosted its position 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 worth $47,000 after purchasing an additional 353 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Worthington Enterprises during the 2nd quarter worth approximately $57,000. nVerses Capital LLC purchased a new position in shares of Worthington Enterprises during the 3rd quarter worth approximately $83,000. Eastern Bank purchased a new position in shares of Worthington Enterprises during the 3rd quarter worth approximately $121,000. Finally, MQS Management LLC purchased a new position in shares of Worthington Enterprises during the 2nd quarter worth approximately $208,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Insider Activity

In other news, CFO Joseph B. Hayek acquired 2,500 shares of Worthington Enterprises stock in a transaction dated Friday, October 11th. The shares were acquired at an average cost of $40.21 per share, for a total transaction of $100,525.00. Following the acquisition, the chief financial officer now owns 168,875 shares of the company’s stock, valued at $6,790,463.75. This trade represents a 1.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 37.50% of the company’s stock.

Analysts Set New Price Targets

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

Worthington Enterprises Price Performance

Worthington Enterprises stock opened at $41.55 on Thursday. The firm has a market cap of $2.09 billion, a PE ratio of 54.67 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 company has a quick ratio of 2.34, a current ratio of 3.47 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average is $40.50 and its two-hundred day moving average is $45.53.

Worthington Enterprises (NYSE:WOR) 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 return on equity of 12.23% and a net margin of 1.96%. The business had revenue of $257.31 million for the quarter, compared to analyst estimates of $296.05 million. During the same quarter last year, the company earned $2.06 earnings per share. Worthington Enterprises’s quarterly revenue was down 17.5% compared to the same quarter last year.

Worthington Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.17 dividend. The ex-dividend date 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 89.47%.

Worthington Enterprises Company 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.