PNC Financial Services Group Inc. Has $1.25 Million Stake in Worthington Enterprises, Inc. (NYSE:WOR)

PNC Financial Services Group Inc. lowered its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,050 shares of the industrial products company’s stock after selling 265 shares during the period. PNC Financial Services Group Inc. owned about 0.06% of Worthington Enterprises worth $1,246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in Worthington Enterprises by 43.7% in the 2nd quarter. American Century Companies Inc. now owns 568,678 shares of the industrial products company’s stock valued at $26,916,000 after buying an additional 172,850 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Worthington Enterprises by 19.1% in the second quarter. Envestnet Asset Management Inc. now owns 155,291 shares of the industrial products company’s stock valued at $7,350,000 after buying an additional 24,885 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Worthington Enterprises by 18.2% during the third quarter. Vontobel Holding Ltd. now owns 117,902 shares of the industrial products company’s stock worth $4,887,000 after buying an additional 18,154 shares during the last quarter. Denali Advisors LLC increased its holdings in shares of Worthington Enterprises by 38.0% during the second quarter. Denali Advisors LLC now owns 111,800 shares of the industrial products company’s stock worth $5,291,000 after buying an additional 30,779 shares in the last quarter. Finally, Private Wealth Strategies L.L.C. bought a new position in shares of Worthington Enterprises in the second quarter valued at approximately $3,913,000. Institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Trading Up 1.1 %

Shares of NYSE:WOR opened at $40.63 on Thursday. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 53.46 and a beta of 1.26. Worthington Enterprises, Inc. has a 12 month low of $38.24 and a 12 month high of $69.96. The company’s fifty day simple moving average is $40.88 and its 200 day simple moving average is $46.16. 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 (NYSE:WOR) last released its earnings results on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The business had revenue of $257.31 million during the quarter, compared to the consensus estimate of $296.05 million. During the same period last year, the business posted $2.06 EPS. The firm’s revenue for the quarter was down 17.5% on a year-over-year basis.

Worthington Enterprises Announces Dividend

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

Insider Buying and Selling

In other news, CFO Joseph B. Hayek acquired 2,500 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were purchased at an average cost of $40.21 per share, with a total value of $100,525.00. Following the acquisition, the chief financial officer now directly owns 168,875 shares in the company, valued at $6,790,463.75. This represents a 1.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 37.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WOR shares. Canaccord Genuity Group decreased 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. StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, Canaccord Genuity Group restated a “hold” rating and set a $46.00 target price on shares of Worthington Enterprises in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Worthington Enterprises currently has an average rating of “Hold” and a consensus target price of $45.00.

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.