Worthington Enterprises, Inc. (NYSE:WOR) Position Cut by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its stake in Worthington Enterprises, Inc. (NYSE:WOR) by 2.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 15,000 shares of the industrial products company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Worthington Enterprises were worth $622,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new stake in Worthington Enterprises in the first quarter valued at $38,000. Itau Unibanco Holding S.A. acquired a new position in shares of Worthington Enterprises during the second quarter valued at $57,000. EntryPoint Capital LLC increased its holdings in shares of Worthington Enterprises by 255.3% during 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 period. nVerses Capital LLC acquired a new position in shares of Worthington Enterprises during the third quarter valued at $83,000. Finally, SG Americas Securities LLC increased its holdings in shares of Worthington Enterprises by 19.7% during 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 period. 51.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WOR has been the topic of a number of research analyst reports. StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Canaccord Genuity Group lowered their price target on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $46.00 price target on shares of Worthington Enterprises in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, Worthington Enterprises has an average rating of “Hold” and a consensus price target of $45.00.

Insider Buying and Selling

In related 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 purchased at an average price of $40.21 per share, with a total value of $100,525.00. Following the purchase, the chief financial officer now 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 is available at the SEC website. 37.50% of the stock is owned by corporate insiders.

Worthington Enterprises Price Performance

NYSE:WOR opened at $39.31 on Wednesday. The business’s 50-day moving average price is $42.02 and its 200 day moving average price is $48.08. The firm has a market cap of $1.98 billion, a P/E ratio of 51.72 and a beta of 1.26. Worthington Enterprises, Inc. has a 52-week low of $37.85 and a 52-week high of $69.96. 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 (NYSE:WOR) last released its earnings results on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). The firm had revenue of $257.31 million for the quarter, compared to analyst estimates of $296.05 million. Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. Worthington Enterprises’s revenue was down 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.06 earnings per share.

Worthington Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.73%. Worthington Enterprises’s payout ratio is currently 89.47%.

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.