Y Intercept Hong Kong Ltd Reduces Stock Position in Worthington Enterprises, Inc. (NYSE:WOR)

Y Intercept Hong Kong Ltd trimmed its holdings in Worthington Enterprises, Inc. (NYSE:WOR) by 46.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,669 shares of the industrial products company’s stock after selling 8,269 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Worthington Enterprises were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. KBC Group NV grew its position in shares of Worthington Enterprises by 45.1% in the third quarter. KBC Group NV now owns 1,136 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 353 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Worthington Enterprises in the 2nd quarter worth about $57,000. nVerses Capital LLC purchased a new position in Worthington Enterprises during the 3rd quarter valued at about $83,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Worthington Enterprises during the third quarter valued at about $85,000. Finally, Point72 DIFC Ltd bought a new position in shares of Worthington Enterprises in the third quarter valued at approximately $110,000. Institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Trading Down 1.4 %

Shares of WOR stock opened at $38.68 on Tuesday. 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 firm has a market cap of $1.94 billion, a P/E ratio of 50.74 and a beta of 1.26. The business has a 50-day moving average price of $40.42 and a two-hundred day moving average price of $44.63. Worthington Enterprises, Inc. has a 12-month low of $38.24 and a 12-month high of $69.96.

Worthington Enterprises (NYSE:WOR) last issued its earnings results on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.21). The firm 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 firm’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.06 EPS.

Worthington Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 of this dividend is Friday, December 13th. Worthington Enterprises’s payout ratio is presently 89.47%.

Insiders Place Their Bets

In related news, CFO Joseph B. Hayek purchased 2,500 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were acquired at an average cost of $40.21 per share, with a total value of $100,525.00. Following the purchase, the chief financial officer now directly owns 168,875 shares of the company’s stock, valued at approximately $6,790,463.75. This trade represents a 1.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 37.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Canaccord Genuity Group reissued a “hold” rating and set a $46.00 price objective on shares of Worthington Enterprises in a research note on Friday, October 4th. Finally, Canaccord Genuity Group decreased their target price on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th.

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.