Worthington Enterprises, Inc. (NYSE:WOR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 11.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,195 shares of the industrial products company’s stock after selling 18,371 shares during the period. Principal Financial Group Inc. owned about 0.29% of Worthington Enterprises worth $6,101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of WOR. SG Americas Securities LLC raised its position in Worthington Enterprises by 19.7% in the 1st 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 in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Worthington Enterprises by 39.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,242 shares of the industrial products company’s stock valued at $791,000 after purchasing an additional 3,450 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Worthington Enterprises by 9.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,176 shares of the industrial products company’s stock worth $1,752,000 after purchasing an additional 2,455 shares during the last quarter. EntryPoint Capital LLC grew its stake 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 worth $107,000 after purchasing an additional 1,238 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Worthington Enterprises by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,682 shares of the industrial products company’s stock valued at $1,225,000 after buying an additional 1,119 shares during the last quarter. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Worthington Enterprises

In related news, CFO Joseph B. Hayek acquired 2,500 shares of Worthington Enterprises stock in a transaction that occurred on Friday, October 11th. The stock was acquired at an average price of $40.21 per share, for a total transaction of $100,525.00. Following 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 1.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 37.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. 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 report on Thursday, September 26th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $46.00 price target on shares of Worthington Enterprises in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the stock 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 $38.61 on Thursday. The stock has a fifty day moving average price of $41.45 and a 200 day moving average price of $46.87. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47. The stock has a market cap of $1.94 billion, a PE ratio of 50.80 and a beta of 1.26. Worthington Enterprises, Inc. has a 1 year low of $38.24 and a 1 year high of $69.96.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data 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). The company 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 firm’s revenue was down 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company 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. Stockholders of record on Friday, December 13th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.76%. Worthington Enterprises’s payout ratio is currently 89.47%.

Worthington Enterprises 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.