KBC Group NV Raises Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

KBC Group NV grew its position in Worthington Enterprises, Inc. (NYSE:WOR) by 45.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,136 shares of the industrial products company’s stock after buying an additional 353 shares during the quarter. KBC Group NV’s holdings in Worthington Enterprises were worth $47,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of WOR. Itau Unibanco Holding S.A. purchased a new stake in shares of Worthington Enterprises during the 2nd quarter worth $57,000. nVerses Capital LLC acquired a new stake in Worthington Enterprises in the third quarter valued at about $83,000. Eastern Bank acquired a new position in Worthington Enterprises during the third quarter worth $121,000. SG Americas Securities LLC lifted its stake in shares of 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 period. Finally, MQS Management LLC acquired a new stake in shares of Worthington Enterprises in the 2nd quarter worth approximately $208,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WOR shares. StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. Canaccord Genuity Group reiterated a “hold” rating and set a $46.00 target price on shares of Worthington Enterprises in a report on Friday, October 4th. Finally, Canaccord Genuity Group lowered their price objective on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, Worthington Enterprises currently has an average rating of “Hold” and an average target price of $45.00.

Worthington Enterprises Stock Up 2.1 %

WOR stock opened at $40.42 on Friday. The firm has a fifty day moving average price of $41.16 and a two-hundred day moving average price of $46.63. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 2.34. Worthington Enterprises, Inc. has a 1-year low of $38.24 and a 1-year high of $69.96. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 53.18 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.21). The firm had revenue of $257.31 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.06 earnings per share.

Worthington Enterprises Announces Dividend

The company also recently declared 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. This represents a $0.68 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, December 13th. Worthington Enterprises’s dividend payout ratio (DPR) is presently 89.47%.

Insiders Place Their Bets

In other news, CFO Joseph B. Hayek acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was 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 approximately $6,790,463.75. This trade represents a 1.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 37.50% of the stock is owned by company insiders.

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.