Point72 Asia Singapore Pte. Ltd. Makes New $85,000 Investment in Worthington Enterprises, Inc. (NYSE:WOR)

Point72 Asia Singapore Pte. Ltd. purchased a new position in Worthington Enterprises, Inc. (NYSE:WOR) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,047 shares of the industrial products company’s stock, valued at approximately $85,000.

Several other institutional investors and hedge funds have also made changes to their positions in WOR. Creative Planning lifted its holdings in Worthington Enterprises by 2.0% in the 2nd quarter. Creative Planning now owns 12,160 shares of the industrial products company’s stock valued at $576,000 after purchasing an additional 244 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Worthington Enterprises by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the industrial products company’s stock worth $729,000 after acquiring an additional 300 shares during the period. KBC Group NV lifted its stake 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. Hsbc Holdings PLC boosted its holdings in shares of Worthington Enterprises by 10.9% during the second quarter. Hsbc Holdings PLC now owns 4,531 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 445 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Worthington Enterprises by 2.7% in the second quarter. The Manufacturers Life Insurance Company now owns 17,718 shares of the industrial products company’s stock valued at $839,000 after purchasing an additional 462 shares during the period. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Enterprises Trading Down 0.1 %

NYSE WOR opened at $40.83 on Friday. 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 one year low of $38.24 and a one year high of $69.96. The company’s 50 day moving average price is $40.52 and its 200 day moving average price is $45.38. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 53.72 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results 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). 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 analysts’ expectations of $296.05 million. During the same period last year, the company posted $2.06 earnings per share. The firm’s revenue for the quarter was down 17.5% on a year-over-year basis.

Worthington Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 1.67%. The ex-dividend date is Friday, December 13th. Worthington Enterprises’s dividend payout ratio (DPR) is presently 89.47%.

Analyst Upgrades and Downgrades

WOR has been the subject of several recent analyst reports. StockNews.com upgraded Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. 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 note on Thursday, September 26th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $46.00 target price on shares of Worthington Enterprises in a research report on Friday, October 4th.

Insiders Place Their Bets

In other news, CFO Joseph B. Hayek bought 2,500 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was acquired 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 37.50% of the stock is owned by company insiders.

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.