Point72 Asset Management L.P. Purchases Shares of 4,800 Worthington Enterprises, Inc. (NYSE:WOR)

Point72 Asset Management L.P. acquired a new position in shares of Worthington Enterprises, Inc. (NYSE:WOR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,800 shares of the industrial products company’s stock, valued at approximately $199,000.

Other large investors also recently made changes to their positions in the company. KBC Group NV boosted its stake in Worthington Enterprises by 45.1% in the 3rd quarter. KBC Group NV now owns 1,136 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 353 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Worthington Enterprises in the second quarter valued at about $57,000. nVerses Capital LLC acquired a new position in shares of Worthington Enterprises during the third quarter worth about $83,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Worthington Enterprises during the third quarter worth about $85,000. Finally, Eastern Bank acquired a new stake in Worthington Enterprises in the 3rd quarter valued at approximately $121,000. Institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Trading Down 3.8 %

Shares of Worthington Enterprises stock opened at $39.30 on Friday. The stock has a market cap of $1.98 billion, a P/E ratio of 51.71 and a beta of 1.26. The company has a quick ratio of 2.34, a current ratio of 3.47 and a debt-to-equity ratio of 0.33. Worthington Enterprises, Inc. has a 12-month low of $38.24 and a 12-month high of $69.96. The business’s 50 day moving average is $40.47 and its 200-day moving average is $44.92.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings results 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). The firm had revenue of $257.31 million for the quarter, compared to the consensus estimate of $296.05 million. Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The business’s revenue was down 17.5% compared to the same quarter last year. During the same period last year, the company posted $2.06 earnings per share.

Worthington Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, December 13th. Worthington Enterprises’s payout ratio is presently 89.47%.

Insider Transactions at Worthington Enterprises

In other Worthington Enterprises news, CFO Joseph B. Hayek bought 2,500 shares of Worthington Enterprises stock in a transaction dated Friday, October 11th. The stock was bought at an average price of $40.21 per share, with a total value of $100,525.00. Following the completion of the transaction, the chief financial officer now owns 168,875 shares in the company, valued at $6,790,463.75. The trade was a 1.50 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 37.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WOR shares. StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $46.00 target price on shares of Worthington Enterprises in a research report on Friday, October 4th. Finally, Canaccord Genuity Group cut their price target 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.

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.