Connor Clark & Lunn Investment Management Ltd. Trims Stock Position in Worthington Enterprises, Inc. $WOR

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 25.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 95,005 shares of the industrial products company’s stock after selling 31,720 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.19% of Worthington Enterprises worth $6,046,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas increased its stake in Worthington Enterprises by 3.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,930 shares of the industrial products company’s stock valued at $314,000 after purchasing an additional 173 shares in the last quarter. CWM LLC increased its position in Worthington Enterprises by 33.5% during the second quarter. CWM LLC now owns 813 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 204 shares during the last quarter. VELA Investment Management LLC raised its holdings in shares of Worthington Enterprises by 0.7% in the 2nd quarter. VELA Investment Management LLC now owns 31,363 shares of the industrial products company’s stock worth $1,996,000 after purchasing an additional 213 shares during the period. ORG Partners LLC lifted its holdings in shares of Worthington Enterprises by 61.0% during the 2nd quarter. ORG Partners LLC now owns 660 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 250 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Worthington Enterprises by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 33,460 shares of the industrial products company’s stock worth $2,129,000 after buying an additional 255 shares during the period. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WOR shares. Canaccord Genuity Group cut their target price on shares of Worthington Enterprises from $81.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, September 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research report on Wednesday, October 8th. Wall Street Zen lowered Worthington Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. CJS Securities raised Worthington Enterprises from a “market perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research note on Wednesday, September 24th. Finally, Zacks Research downgraded Worthington Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.33.

Worthington Enterprises Stock Performance

WOR stock opened at $55.09 on Thursday. Worthington Enterprises, Inc. has a 1-year low of $37.88 and a 1-year high of $70.91. The company has a current ratio of 3.30, a quick ratio of 2.24 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.74 billion, a PE ratio of 25.86 and a beta of 1.25. The business’s 50-day moving average price is $57.81 and its two-hundred day moving average price is $60.10.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings data on Wednesday, December 28th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter. Worthington Enterprises had a return on equity of 17.70% and a net margin of 8.91%.The business had revenue of $1.23 billion during the quarter. As a group, research analysts forecast that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 15th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, December 15th. Worthington Enterprises’s payout ratio is 35.68%.

Insider Buying and Selling

In other news, Director Michael J. Endres acquired 10,000 shares of Worthington Enterprises stock in a transaction on Thursday, September 25th. The shares were purchased at an average cost of $52.95 per share, for a total transaction of $529,500.00. Following the completion of the purchase, the director directly owned 95,524 shares of the company’s stock, valued at approximately $5,057,995.80. This represents a 11.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.40% of the stock is currently 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.