Huntington National Bank Reduces Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

Huntington National Bank lessened its position in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 24.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,817 shares of the industrial products company’s stock after selling 918 shares during the quarter. Huntington National Bank’s holdings in Worthington Enterprises were worth $117,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WOR. American Century Companies Inc. raised its position in Worthington Enterprises by 43.7% in the second quarter. American Century Companies Inc. now owns 568,678 shares of the industrial products company’s stock valued at $26,916,000 after purchasing an additional 172,850 shares during the period. Envestnet Asset Management Inc. lifted its position in Worthington Enterprises by 19.1% in the second quarter. Envestnet Asset Management Inc. now owns 155,291 shares of the industrial products company’s stock valued at $7,350,000 after buying an additional 24,885 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in Worthington Enterprises by 18.2% during the third quarter. Vontobel Holding Ltd. now owns 117,902 shares of the industrial products company’s stock worth $4,887,000 after buying an additional 18,154 shares during the period. Denali Advisors LLC increased its position in shares of Worthington Enterprises by 38.0% during the second quarter. Denali Advisors LLC now owns 111,800 shares of the industrial products company’s stock valued at $5,291,000 after acquiring an additional 30,779 shares during the last quarter. Finally, Private Wealth Strategies L.L.C. purchased a new stake in shares of Worthington Enterprises in the 2nd quarter valued at approximately $3,913,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Worthington Enterprises

In other Worthington Enterprises news, CFO Joseph B. Hayek purchased 2,500 shares of the business’s stock in a transaction on Friday, October 11th. The shares were bought at an average cost of $40.21 per share, for a total transaction of $100,525.00. Following the completion of the purchase, the chief financial officer now directly owns 168,875 shares in the company, valued at approximately $6,790,463.75. This represents a 1.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 37.50% of the company’s stock.

Analyst Upgrades and Downgrades

WOR has been the subject of several research reports. StockNews.com upgraded shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Canaccord Genuity Group cut their price objective 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 reaffirmed a “hold” rating and issued a $46.00 target price on shares of Worthington Enterprises in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.00.

Worthington Enterprises Trading Down 1.6 %

NYSE:WOR opened at $40.07 on Monday. Worthington Enterprises, Inc. has a 12-month low of $38.27 and a 12-month high of $69.96. The firm has a market cap of $2.01 billion, a PE ratio of 52.72 and a beta of 1.26. The company has a current ratio of 3.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $41.60 and a 200 day moving average price of $47.23.

Worthington Enterprises (NYSE:WOR) last announced 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). Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The company had revenue of $257.31 million during the quarter, compared to analysts’ expectations of $296.05 million. The business’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.06 EPS.

Worthington Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, December 13th. Worthington Enterprises’s dividend payout ratio is presently 89.47%.

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.