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

Huntington National Bank cut its stake in Worthington Enterprises, Inc. (NYSE:WOR) by 24.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,817 shares of the industrial products company’s stock after selling 918 shares during the period. Huntington National Bank’s holdings in Worthington Enterprises were worth $117,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. KBC Group NV lifted its holdings in shares of Worthington Enterprises by 45.1% in the 3rd quarter. KBC Group NV now owns 1,136 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 353 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Worthington Enterprises in the second quarter valued at approximately $57,000. nVerses Capital LLC acquired a new stake in shares of Worthington Enterprises in the third quarter valued at approximately $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 acquiring an additional 1,238 shares during the last quarter. Finally, Eastern Bank acquired a new position in shares of Worthington Enterprises in the 3rd quarter valued at $121,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on WOR shares. Canaccord Genuity Group lowered their price objective on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Canaccord Genuity Group restated a “hold” rating and issued a $46.00 price target on shares of Worthington Enterprises in a research report on Friday, October 4th. Finally, StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.00.

Worthington Enterprises Trading Down 1.6 %

Shares of Worthington Enterprises stock opened at $40.07 on Monday. The company has a quick ratio of 2.34, a current ratio of 3.47 and a debt-to-equity ratio of 0.33. The firm 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 52-week low of $38.27 and a 52-week high of $69.96. The company’s 50-day simple moving average is $41.60 and its 200-day simple moving average is $47.23.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings results on Tuesday, September 24th. The industrial products company reported $0.50 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 business had revenue of $257.31 million during the quarter, compared to analyst estimates of $296.05 million. During the same period in the prior year, the business earned $2.06 earnings per share. The firm’s quarterly revenue was down 17.5% compared to the same quarter last year.

Worthington Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.70%. Worthington Enterprises’s dividend payout ratio (DPR) is presently 89.47%.

Insider Activity

In related news, CFO Joseph B. Hayek bought 2,500 shares of the 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 transaction, the chief financial officer now owns 168,875 shares of the company’s stock, valued at $6,790,463.75. This represents a 1.50 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 37.50% of the company’s stock.

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.