Fisher Asset Management LLC Boosts Stock Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

Fisher Asset Management LLC lifted its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 24.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,265 shares of the industrial products company’s stock after acquiring an additional 13,974 shares during the quarter. Fisher Asset Management LLC owned 0.14% of Worthington Enterprises worth $2,912,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. KBC Group NV increased its position in shares of Worthington Enterprises by 45.1% during the third quarter. KBC Group NV now owns 1,136 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 353 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Worthington Enterprises during the second quarter worth $57,000. nVerses Capital LLC purchased a new stake in shares of Worthington Enterprises during the third quarter worth $83,000. Eastern Bank purchased a new stake in shares of Worthington Enterprises during the third quarter worth $121,000. Finally, Virtu Financial LLC purchased a new position in Worthington Enterprises in the first quarter valued at $226,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Price Performance

Shares of WOR opened at $40.63 on Friday. Worthington Enterprises, Inc. has a fifty-two week low of $38.24 and a fifty-two week high of $69.96. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 53.46 and a beta of 1.26. The firm has a 50-day simple moving average of $40.76 and a 200-day simple moving average of $46.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.21). Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The business had revenue of $257.31 million for the quarter, compared to analyst estimates of $296.05 million. During the same quarter last year, the company posted $2.06 EPS. Worthington Enterprises’s quarterly revenue was down 17.5% on a year-over-year basis.

Worthington Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.67%. Worthington Enterprises’s payout ratio is currently 89.47%.

Analyst Ratings Changes

WOR has been the topic of several recent analyst reports. Canaccord Genuity Group dropped their target price on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Canaccord Genuity Group reissued a “hold” rating and issued a $46.00 target price on shares of Worthington Enterprises in a report on Friday, October 4th. Finally, StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Worthington Enterprises currently has a consensus rating of “Hold” and an average price target of $45.00.

Insider Activity at Worthington Enterprises

In other news, CFO Joseph B. Hayek acquired 2,500 shares of Worthington Enterprises stock in a transaction that occurred on Friday, October 11th. The stock was purchased at an average price of $40.21 per share, for a total transaction of $100,525.00. Following the completion of the transaction, the chief financial officer now directly owns 168,875 shares in the company, valued at approximately $6,790,463.75. This trade represents a 1.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 37.50% of the stock is owned by 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.