Pacer Advisors Inc. Decreases Position in Worthington Enterprises, Inc. (NYSE:WOR)

Pacer Advisors Inc. decreased its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 38.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,614,162 shares of the industrial products company’s stock after selling 1,019,191 shares during the quarter. Pacer Advisors Inc.’s holdings in Worthington Enterprises were worth $66,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. American Century Companies Inc. raised its position in shares of Worthington Enterprises by 43.7% in the second quarter. American Century Companies Inc. now owns 568,678 shares of the industrial products company’s stock worth $26,916,000 after buying an additional 172,850 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Worthington Enterprises by 19.1% during the second quarter. Envestnet Asset Management Inc. now owns 155,291 shares of the industrial products company’s stock worth $7,350,000 after purchasing an additional 24,885 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Worthington Enterprises by 18.2% during the third quarter. Vontobel Holding Ltd. now owns 117,902 shares of the industrial products company’s stock valued at $4,887,000 after acquiring an additional 18,154 shares in the last quarter. Denali Advisors LLC lifted its holdings in Worthington Enterprises by 38.0% in the second quarter. Denali Advisors LLC now owns 111,800 shares of the industrial products company’s stock worth $5,291,000 after buying an additional 30,779 shares during the period. Finally, Private Wealth Strategies L.L.C. bought a new stake in shares of Worthington Enterprises during the second quarter valued at approximately $3,913,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Stock Performance

WOR opened at $39.55 on Friday. The firm has a market cap of $1.99 billion, a P/E ratio of 52.04 and a beta of 1.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 2.34. The company has a 50 day simple moving average of $41.35 and a two-hundred day simple moving average of $46.81. Worthington Enterprises, Inc. has a 1-year low of $38.24 and a 1-year high of $69.96.

Worthington Enterprises (NYSE:WOR) last announced 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 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 firm’s revenue for the quarter was down 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.06 EPS.

Worthington Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 annualized dividend and a yield of 1.72%. Worthington Enterprises’s payout ratio is currently 89.47%.

Insider Activity

In other Worthington Enterprises news, CFO Joseph B. Hayek acquired 2,500 shares of the business’s stock in a transaction on Friday, October 11th. The shares were bought at an average price of $40.21 per share, with a total value of $100,525.00. Following the transaction, the chief financial officer now directly owns 168,875 shares of the company’s stock, valued at $6,790,463.75. The trade was a 1.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 37.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on WOR. Canaccord Genuity Group dropped their target price on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. StockNews.com upgraded shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $46.00 price objective on shares of Worthington Enterprises in a report on Friday, October 4th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.