Pacer Advisors Inc. Sells 189,007 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Pacer Advisors Inc. trimmed its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,633,353 shares of the industrial products company’s stock after selling 189,007 shares during the quarter. Pacer Advisors Inc. owned 5.26% of Worthington Enterprises worth $124,637,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Worthington Enterprises by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 3,901,794 shares of the industrial products company’s stock valued at $224,548,000 after acquiring an additional 242,833 shares during the period. Gerber LLC acquired a new position in Worthington Enterprises in the fourth quarter valued at about $1,856,000. Denali Advisors LLC grew its stake in Worthington Enterprises by 35.4% during the first quarter. Denali Advisors LLC now owns 81,021 shares of the industrial products company’s stock worth $5,042,000 after buying an additional 21,164 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Worthington Enterprises by 58.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 58,184 shares of the industrial products company’s stock worth $3,621,000 after buying an additional 21,543 shares in the last quarter. Finally, Capital International Investors acquired a new position in shares of Worthington Enterprises in the 4th quarter worth approximately $26,329,000. 51.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Canaccord Genuity Group decreased their target price on Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating on the stock in a report on Thursday, June 27th. StockNews.com cut shares of Worthington Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th. Finally, The Goldman Sachs Group reduced their target price on shares of Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating on the stock in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating and two 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 a consensus target price of $50.33.

Worthington Enterprises Price Performance

Worthington Enterprises stock opened at $45.88 on Friday. The business’s 50-day simple moving average is $45.97 and its 200 day simple moving average is $52.88. The company has a quick ratio of 2.86, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 20.76 and a beta of 1.25. Worthington Enterprises, Inc. has a 12-month low of $36.29 and a 12-month high of $69.96.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings data on Wednesday, June 26th. The industrial products company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.14). Worthington Enterprises had a net margin of 3.79% and a return on equity of 15.57%. The business had revenue of $318.80 million during the quarter, compared to analyst estimates of $352.82 million. During the same quarter in the prior year, the company earned $2.74 earnings per share. The company’s quarterly revenue was down 13.6% on a year-over-year basis.

Worthington Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.48%. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.16. Worthington Enterprises’s dividend payout ratio (DPR) is 30.77%.

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.