Zurcher Kantonalbank Zurich Cantonalbank Cuts Stake in Worthington Enterprises, Inc. (NYSE:WOR)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 50.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,765 shares of the industrial products company’s stock after selling 29,601 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Worthington Enterprises worth $1,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Worthington Enterprises by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 3,901,794 shares of the industrial products company’s stock worth $224,548,000 after buying an additional 242,833 shares during the period. Gerber LLC acquired a new stake in shares of Worthington Enterprises during the fourth quarter worth $1,856,000. Denali Advisors LLC lifted its stake in shares of Worthington Enterprises by 35.4% during the first quarter. Denali Advisors LLC now owns 81,021 shares of the industrial products company’s stock worth $5,042,000 after buying an additional 21,164 shares during the period. O Shaughnessy Asset Management LLC lifted its position in Worthington Enterprises by 58.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 58,184 shares of the industrial products company’s stock valued at $3,621,000 after purchasing an additional 21,543 shares during the period. Finally, Capital International Investors acquired a new position in Worthington Enterprises during the fourth quarter valued at $26,329,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com downgraded shares of Worthington Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th. The Goldman Sachs Group decreased their target price on shares of Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating for the company in a research report on Tuesday, July 2nd. Finally, Canaccord Genuity Group decreased their target price on shares of Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $50.33.

Worthington Enterprises Trading Up 0.5 %

Shares of Worthington Enterprises stock opened at $45.80 on Tuesday. The firm has a 50-day simple moving average of $46.47 and a two-hundred day simple moving average of $54.52. The company has a market cap of $2.30 billion, a P/E ratio of 20.72 and a beta of 1.26. Worthington Enterprises, Inc. has a fifty-two week low of $36.29 and a fifty-two week high of $69.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.86 and a current ratio of 3.78.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Wednesday, June 26th. The industrial products company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). The firm had revenue of $318.80 million during the quarter, compared to analyst estimates of $352.82 million. Worthington Enterprises had a return on equity of 15.57% and a net margin of 3.79%. The company’s revenue was down 13.6% on a year-over-year basis. During the same quarter last year, the company posted $2.74 EPS.

Worthington Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.48%. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.16. Worthington Enterprises’s payout ratio is currently 28.96%.

Worthington Enterprises 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.