Point72 Hong Kong Ltd Takes $124,000 Position in Worthington Enterprises, Inc. (NYSE:WOR)

Point72 Hong Kong Ltd bought a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 2,988 shares of the industrial products company’s stock, valued at approximately $124,000.

Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake 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 acquiring an additional 172,850 shares in the last quarter. Private Wealth Strategies L.L.C. acquired a new position in Worthington Enterprises during the 2nd quarter worth $3,913,000. Edgestream Partners L.P. purchased a new stake in Worthington Enterprises during the 2nd quarter worth about $3,060,000. Panagora Asset Management Inc. acquired a new stake in Worthington Enterprises in the 2nd quarter valued at about $2,044,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Worthington Enterprises in the 3rd quarter valued at about $1,764,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Worthington Enterprises news, CFO Joseph B. Hayek bought 2,500 shares of the business’s stock in a transaction dated 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 acquisition, 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 legal filing with the SEC, which is accessible through this link. Company insiders own 37.50% of the company’s stock.

Worthington Enterprises Stock Performance

Shares of WOR opened at $41.38 on Wednesday. The company has a quick ratio of 2.34, a current ratio of 3.47 and a debt-to-equity ratio of 0.33. Worthington Enterprises, Inc. has a 52-week low of $38.24 and a 52-week high of $69.96. The stock has a 50 day moving average price of $40.53 and a 200 day moving average price of $45.56. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 54.45 and a beta of 1.26.

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). Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The company had revenue of $257.31 million during the quarter, compared to analyst estimates of $296.05 million. During the same quarter in the previous year, the company posted $2.06 EPS. The company’s quarterly revenue was down 17.5% on a year-over-year basis.

Worthington Enterprises Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Friday, December 13th. Worthington Enterprises’s dividend payout ratio (DPR) is currently 89.47%.

Wall Street Analysts Forecast Growth

WOR has been the topic of several analyst reports. 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 restated a “hold” rating and issued a $46.00 price objective on shares of Worthington Enterprises in a report on Friday, October 4th. Finally, Canaccord Genuity Group lowered their target price 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. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, Worthington Enterprises currently has a consensus rating of “Hold” and a consensus target price of $45.00.

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.