Janney Montgomery Scott LLC Decreases Stake in Worthington Enterprises, Inc. (NYSE:WOR)

Janney Montgomery Scott LLC lessened its holdings in Worthington Enterprises, Inc. (NYSE:WOR) by 9.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,089 shares of the industrial products company’s stock after selling 2,907 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Worthington Enterprises worth $1,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of WOR. American Century Companies Inc. increased its holdings in Worthington Enterprises by 43.7% in the 2nd 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 during the period. Private Wealth Strategies L.L.C. acquired a new stake in shares of Worthington Enterprises during the 2nd quarter worth approximately $3,913,000. Edgestream Partners L.P. acquired a new stake in shares of Worthington Enterprises during the 2nd quarter worth approximately $3,060,000. Panagora Asset Management Inc. acquired a new stake in shares of Worthington Enterprises during the 2nd quarter worth approximately $2,044,000. Finally, Denali Advisors LLC grew its stake in shares of Worthington Enterprises by 38.0% during the 2nd quarter. Denali Advisors LLC now owns 111,800 shares of the industrial products company’s stock worth $5,291,000 after purchasing an additional 30,779 shares during the period. Institutional investors and hedge funds own 51.59% of the company’s stock.

Insider Buying and Selling at Worthington Enterprises

In related news, CFO Joseph B. Hayek purchased 2,500 shares of Worthington Enterprises stock in a transaction dated Friday, October 11th. The shares were acquired at an average price of $40.21 per share, for a total transaction of $100,525.00. Following the acquisition, the chief financial officer now directly owns 168,875 shares in the company, valued at approximately $6,790,463.75. The trade was a 1.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 37.50% of the stock is currently owned by insiders.

Worthington Enterprises Price Performance

Worthington Enterprises stock opened at $40.05 on Friday. The company’s fifty day moving average price is $41.65 and its 200 day moving average price is $47.42. Worthington Enterprises, Inc. has a 1 year low of $38.27 and a 1 year high of $69.96. The stock has a market capitalization of $2.01 billion, a P/E ratio of 52.72 and a beta of 1.26. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings data 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). The firm had revenue of $257.31 million during the quarter, compared to analysts’ expectations of $296.05 million. Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The company’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.06 EPS.

Worthington Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.17 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.70%. Worthington Enterprises’s payout ratio is currently 89.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Canaccord Genuity Group reaffirmed a “hold” rating and set a $46.00 price objective on shares of Worthington Enterprises in a research note on Friday, October 4th. 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 dropped their price target on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock 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. Based on data from MarketBeat.com, Worthington Enterprises presently has a consensus rating of “Hold” and a consensus price target 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.