Squarepoint Ops LLC Cuts Stake in Worthington Enterprises, Inc. $WOR

Squarepoint Ops LLC lowered its position in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 31.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,465 shares of the industrial products company’s stock after selling 16,519 shares during the period. Squarepoint Ops LLC’s holdings in Worthington Enterprises were worth $1,960,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Nykredit A S bought a new position in Worthington Enterprises during the 2nd quarter worth about $30,000. VELA Investment Management LLC raised its holdings in shares of Worthington Enterprises by 5.1% in the 2nd quarter. VELA Investment Management LLC now owns 222,561 shares of the industrial products company’s stock valued at $11,965,000 after purchasing an additional 10,760 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Worthington Enterprises by 6,704.3% in the 2nd quarter. California State Teachers Retirement System now owns 2,032,504 shares of the industrial products company’s stock valued at $109,267,000 after purchasing an additional 2,002,633 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Worthington Enterprises in the 2nd quarter worth approximately $1,115,000. Finally, Empowered Funds LLC purchased a new stake in shares of Worthington Enterprises in the 2nd quarter worth approximately $256,000. 51.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a research note on Friday, July 17th. Canaccord Genuity Group reduced their price objective on shares of Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Finally, Wall Street Zen lowered Worthington Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.50.

Worthington Enterprises Stock Performance

Shares of Worthington Enterprises stock opened at $55.47 on Tuesday. The company has a market capitalization of $2.71 billion, a PE ratio of 17.67 and a beta of 1.30. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 2.37. The company has a 50-day simple moving average of $57.03 and a two-hundred day simple moving average of $55.37. Worthington Enterprises, Inc. has a one year low of $45.01 and a one year high of $64.59.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The firm had revenue of $371.46 million during the quarter, compared to the consensus estimate of $386.49 million. During the same quarter in the prior year, the business posted $1.06 earnings per share. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. Research analysts expect that Worthington Enterprises, Inc. will post 3.85 EPS for the current fiscal year.

Worthington Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Worthington Enterprises’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.4%. Worthington Enterprises’s dividend payout ratio is currently 24.20%.

Insider Buying and Selling

In other Worthington Enterprises news, major shareholder John McConnell sold 17,625 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $53.04, for a total value of $934,830.00. Following the completion of the sale, the insider directly owned 1,335,648 shares in the company, valued at $70,842,769.92. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by insiders.

Worthington Enterprises Profile

Worthington Enterprises, Inc (NYSE: WOR) is a diversified manufacturer and branded products company focused primarily on consumer and building-product markets. The company develops, manufactures and markets products used by consumers, contractors and other professional customers.

Its consumer products activities include outdoor living, lawn and garden, tools and related products. Its portfolio has included brands such as Bernzomatic, Balloon Time, Mag-Torch and General Tools, although its product portfolio may change as the company manages its businesses and brands.

Worthington Enterprises also participates in the building-products industry, supplying products used in commercial and residential construction.