Rhumbline Advisers Sells 6,135 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Rhumbline Advisers trimmed its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 5.8% in the second quarter, Holdings Channel.com reports. The firm owned 100,152 shares of the industrial products company’s stock after selling 6,135 shares during the quarter. Rhumbline Advisers’ holdings in Worthington Enterprises were worth $4,740,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Private Wealth Strategies L.L.C. acquired a new position in Worthington Enterprises during the 2nd quarter worth approximately $3,913,000. IFG Advisory LLC boosted its position in Worthington Enterprises by 30.6% during the 2nd quarter. IFG Advisory LLC now owns 15,666 shares of the industrial products company’s stock worth $741,000 after acquiring an additional 3,666 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in Worthington Enterprises during the 2nd quarter worth approximately $2,044,000. Louisiana State Employees Retirement System boosted its position in Worthington Enterprises by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the industrial products company’s stock worth $729,000 after acquiring an additional 300 shares during the last quarter. Finally, Park National Corp OH boosted its position in Worthington Enterprises by 13.5% during the 2nd quarter. Park National Corp OH now owns 12,934 shares of the industrial products company’s stock worth $612,000 after acquiring an additional 1,543 shares during the last quarter. 51.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WOR has been the subject of a number of recent research reports. StockNews.com downgraded Worthington Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, June 26th. The Goldman Sachs Group reduced their price target on 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 cut their price objective on Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat.com, Worthington Enterprises has a consensus rating of “Hold” and an average price target of $50.33.

Worthington Enterprises Trading Up 2.3 %

NYSE WOR opened at $45.24 on Monday. The company has a market cap of $2.27 billion, a PE ratio of 20.47 and a beta of 1.25. The company has a current ratio of 3.78, a quick ratio of 2.86 and a debt-to-equity ratio of 0.33. Worthington Enterprises, Inc. has a 12 month low of $36.29 and a 12 month high of $69.96. The stock has a 50 day moving average of $45.90 and a 200-day moving average of $53.33.

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

Worthington Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.17 per share. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 1.50%. Worthington Enterprises’s dividend payout ratio (DPR) is currently 30.77%.

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.