PDS Planning Inc Lowers Stake in Worthington Enterprises, Inc. (NYSE:WOR)

PDS Planning Inc reduced its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 9.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 11,436 shares of the industrial products company’s stock after selling 1,231 shares during the period. PDS Planning Inc’s holdings in Worthington Enterprises were worth $474,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new position in Worthington Enterprises during the 1st quarter worth about $38,000. Itau Unibanco Holding S.A. purchased a new position in Worthington Enterprises during the 2nd quarter worth $57,000. nVerses Capital LLC purchased a new stake in Worthington Enterprises in the third quarter valued at about $83,000. EntryPoint Capital LLC boosted its holdings in Worthington Enterprises by 255.3% in the first quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 1,238 shares in the last quarter. Finally, Eastern Bank purchased a new stake in shares of Worthington Enterprises during the third quarter worth about $121,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Enterprises Stock Down 0.3 %

WOR stock opened at $38.71 on Tuesday. The firm’s 50 day moving average price is $42.15 and its 200-day moving average price is $48.20. 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 market cap of $1.95 billion, a PE ratio of 50.93 and a beta of 1.26. Worthington Enterprises, Inc. has a one year low of $37.85 and a one year high of $69.96.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results 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 firm had revenue of $257.31 million for 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 quarterly revenue was down 17.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 earnings per share.

Worthington Enterprises Dividend Announcement

The business 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 dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.76%. Worthington Enterprises’s dividend payout ratio is presently 89.47%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WOR shares. StockNews.com upgraded shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Canaccord Genuity Group reiterated a “hold” rating and set a $46.00 price target 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 for the company 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $45.00.

Insider Activity

In other Worthington Enterprises news, CFO Joseph B. Hayek bought 2,500 shares of Worthington Enterprises stock in a transaction dated Friday, October 11th. The stock was acquired at an average cost of $40.21 per share, with a total value of $100,525.00. Following the completion of the acquisition, the chief financial officer now owns 168,875 shares of the company’s stock, valued at approximately $6,790,463.75. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 37.50% of the company’s stock.

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.