Janney Montgomery Scott LLC Trims Stock Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

Janney Montgomery Scott LLC reduced its position in Worthington Enterprises, Inc. (NYSE:WOR) by 9.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,089 shares of the industrial products company’s stock after selling 2,907 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Worthington Enterprises were worth $1,206,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in Worthington Enterprises in the 2nd quarter valued at about $57,000. nVerses Capital LLC acquired a new position in shares of Worthington Enterprises during the third quarter worth about $83,000. EntryPoint Capital LLC grew its position 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 buying an additional 1,238 shares in the last quarter. Eastern Bank acquired a new position in shares of Worthington Enterprises during the third quarter worth about $121,000. Finally, SG Americas Securities LLC grew its position 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 worth $148,000 after buying an additional 391 shares in the last quarter. 51.59% of the stock is owned by institutional investors and hedge funds.

Worthington Enterprises Price Performance

WOR stock opened at $40.05 on Friday. The business has a 50 day moving average price of $41.65 and a 200 day moving average price of $47.42. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 52.72 and a beta of 1.26. Worthington Enterprises, Inc. has a fifty-two week low of $38.27 and a fifty-two 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 posted its earnings results 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 business had revenue of $257.31 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.06 EPS.

Worthington Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.70%. The ex-dividend date is Friday, December 13th. Worthington Enterprises’s payout ratio is 89.47%.

Insider Buying and Selling

In other news, CFO Joseph B. Hayek acquired 2,500 shares of Worthington Enterprises stock in a transaction on Friday, October 11th. The stock was bought at an average price of $40.21 per share, for a total transaction of $100,525.00. Following the completion of the purchase, the chief financial officer now owns 168,875 shares in the company, valued at $6,790,463.75. This represents a 1.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 37.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented 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 reissued a “hold” rating and set a $46.00 price objective on shares of Worthington Enterprises in a research report on Friday, October 4th. Finally, Canaccord Genuity Group lowered their price objective on 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 equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.