Worthington Enterprises, Inc. (NYSE:WOR) Stake Lowered by OLD National Bancorp IN

OLD National Bancorp IN cut its holdings in Worthington Enterprises, Inc. (NYSE:WOR) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,400 shares of the industrial products company’s stock after selling 600 shares during the quarter. OLD National Bancorp IN’s holdings in Worthington Enterprises were worth $417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WOR. Pacer Advisors Inc. raised its position in shares of Worthington Enterprises by 9.7% during the fourth quarter. Pacer Advisors Inc. now owns 1,770,924 shares of the industrial products company’s stock valued at $71,032,000 after buying an additional 156,762 shares during the last quarter. Geode Capital Management LLC raised its holdings in Worthington Enterprises by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 813,828 shares of the industrial products company’s stock valued at $33,739,000 after acquiring an additional 25,824 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Worthington Enterprises by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 493,280 shares of the industrial products company’s stock worth $20,446,000 after acquiring an additional 18,480 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Worthington Enterprises by 90.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 138,115 shares of the industrial products company’s stock worth $5,725,000 after purchasing an additional 65,685 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Worthington Enterprises by 24.8% during the third quarter. Barclays PLC now owns 128,158 shares of the industrial products company’s stock valued at $5,312,000 after purchasing an additional 25,453 shares during the period. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Worthington Enterprises Trading Down 3.4 %

Shares of WOR stock opened at $41.84 on Friday. The company has a market capitalization of $2.09 billion, a P/E ratio of 50.41 and a beta of 1.25. Worthington Enterprises, Inc. has a 12-month low of $37.88 and a 12-month high of $69.96. The company has a quick ratio of 2.50, a current ratio of 3.56 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $40.86 and a 200 day moving average price of $42.47.

Worthington Enterprises (NYSE:WOR) last posted its earnings results on Tuesday, December 17th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $274.05 million during the quarter, compared to analysts’ expectations of $273.77 million. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. Worthington Enterprises’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share.

Worthington Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.63%. Worthington Enterprises’s payout ratio is presently 81.93%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WOR. Canaccord Genuity Group lifted their price target on shares of Worthington Enterprises from $46.00 to $49.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Seaport Res Ptn upgraded Worthington Enterprises to a “strong-buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Worthington Enterprises presently has an average rating of “Hold” and an average price target of $46.00.

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.