Bridgewater Associates LP Reduces Stock Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

Bridgewater Associates LP lowered its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 61.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,290 shares of the industrial products company’s stock after selling 30,148 shares during the quarter. Bridgewater Associates LP’s holdings in Worthington Enterprises were worth $800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in WOR. Creative Planning grew its stake in shares of Worthington Enterprises by 2.0% during the 2nd quarter. Creative Planning now owns 12,160 shares of the industrial products company’s stock valued at $576,000 after acquiring an additional 244 shares during the period. Comerica Bank boosted its position in shares of Worthington Enterprises by 0.5% in the first quarter. Comerica Bank now owns 46,919 shares of the industrial products company’s stock worth $2,920,000 after purchasing an additional 250 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Worthington Enterprises by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the industrial products company’s stock worth $729,000 after purchasing an additional 300 shares in the last quarter. KBC Group NV raised its position in shares of Worthington Enterprises by 45.1% during 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 period. Finally, Hsbc Holdings PLC lifted its stake in shares of Worthington Enterprises by 10.9% during the 2nd quarter. Hsbc Holdings PLC now owns 4,531 shares of the industrial products company’s stock valued at $214,000 after buying an additional 445 shares in the last quarter. Institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Price Performance

NYSE:WOR opened at $41.83 on Tuesday. The business’s 50-day moving average is $40.60 and its 200 day moving average is $45.68. Worthington Enterprises, Inc. has a 12 month low of $38.24 and a 12 month high of $69.96. The company has a market capitalization of $2.10 billion, a P/E ratio of 55.04 and a beta of 1.26. The company has a current ratio of 3.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.33.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share (EPS) 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 firm had revenue of $257.31 million for the quarter, compared to analysts’ expectations of $296.05 million. During the same period last year, the company earned $2.06 earnings per share. The firm’s revenue was down 17.5% on a year-over-year basis.

Worthington Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued 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 dividend yield of 1.63%. Worthington Enterprises’s dividend payout ratio (DPR) is presently 89.47%.

Analysts Set New Price Targets

A number of equities research analysts have commented on WOR shares. StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Canaccord Genuity Group reissued a “hold” rating and set a $46.00 target price on shares of Worthington Enterprises in a research note on Friday, October 4th. Finally, Canaccord Genuity Group dropped their price target on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.00.

Insider Activity

In related news, CFO Joseph B. Hayek bought 2,500 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were purchased at an average price of $40.21 per share, with a total value of $100,525.00. Following the transaction, the chief financial officer now owns 168,875 shares in the company, valued at $6,790,463.75. This trade represents a 1.50 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 37.50% of the company’s stock.

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.