Sequoia Financial Advisors LLC Acquires 4,907 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Sequoia Financial Advisors LLC boosted its holdings in Worthington Enterprises, Inc. (NYSE:WOR) by 111.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,307 shares of the industrial products company’s stock after purchasing an additional 4,907 shares during the period. Sequoia Financial Advisors LLC’s holdings in Worthington Enterprises were worth $386,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Fidelis Capital Partners LLC bought a new stake in shares of Worthington Enterprises in the 1st quarter valued at about $38,000. Itau Unibanco Holding S.A. bought a new position in Worthington Enterprises during the 2nd quarter worth approximately $57,000. nVerses Capital LLC purchased a new position in Worthington Enterprises in the 3rd quarter worth approximately $83,000. EntryPoint Capital LLC lifted its position 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 valued at $107,000 after purchasing an additional 1,238 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Worthington Enterprises by 19.7% in the first quarter. SG Americas Securities LLC now owns 2,376 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 391 shares during the last quarter. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Joseph B. Hayek purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were bought at an average cost of $40.21 per share, for a total transaction of $100,525.00. Following the completion of the transaction, the chief financial officer now directly owns 168,875 shares of the company’s stock, valued at $6,790,463.75. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 38.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating on the stock in a report on Tuesday, July 2nd. Canaccord Genuity Group cut their price target on shares of 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 raised 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 target price on shares of Worthington Enterprises in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.00.

Worthington Enterprises Stock Performance

Shares of WOR stock opened at $38.82 on Monday. 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 stock has a fifty day moving average of $42.93 and a 200 day moving average of $49.09. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 17.57 and a beta of 1.25. Worthington Enterprises, Inc. has a 52 week low of $36.87 and a 52 week high of $69.96.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $296.05 million. During the same period in the previous year, the firm posted $2.06 EPS. The company’s revenue for the quarter 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 $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.75%. Worthington Enterprises’s dividend payout ratio is currently 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.