Victory Capital Management Inc. Has $578,000 Position in Worthington Enterprises, Inc. (NYSE:WOR)

Victory Capital Management Inc. trimmed its position in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 44.7% during the third quarter, HoldingsChannel.com reports. The firm owned 13,950 shares of the industrial products company’s stock after selling 11,270 shares during the period. Victory Capital Management Inc.’s holdings in Worthington Enterprises were worth $578,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WOR. American Century Companies Inc. raised its holdings 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 during the last quarter. Private Wealth Strategies L.L.C. acquired a new position in Worthington Enterprises in the 2nd quarter valued at approximately $3,913,000. Edgestream Partners L.P. bought a new position in shares of Worthington Enterprises during the second quarter valued at $3,060,000. Panagora Asset Management Inc. acquired a new position in shares of Worthington Enterprises during the second quarter worth $2,044,000. Finally, Denali Advisors LLC grew its stake in shares of Worthington Enterprises by 38.0% in the second quarter. Denali Advisors LLC now owns 111,800 shares of the industrial products company’s stock worth $5,291,000 after purchasing an additional 30,779 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WOR has been the subject of a number of analyst reports. Canaccord Genuity Group lowered their price objective on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. Finally, Canaccord Genuity Group restated a “hold” rating and set a $46.00 price target on shares of Worthington Enterprises in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, Worthington Enterprises presently has an average rating of “Hold” and a consensus price target of $45.00.

Insider Activity at Worthington Enterprises

In other Worthington Enterprises news, CFO Joseph B. Hayek bought 2,500 shares of the stock in a transaction on Friday, October 11th. The shares were acquired at an average price 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 of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 37.50% of the stock is owned by company insiders.

Worthington Enterprises Trading Up 1.1 %

Shares of Worthington Enterprises stock opened at $40.63 on Friday. The company has a current ratio of 3.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $40.76 and a 200 day simple moving average of $46.12. 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 $2.04 billion, a P/E ratio of 53.46 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR) last posted its earnings results on Tuesday, September 24th. The industrial products company reported $0.50 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%. Worthington Enterprises’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.06 EPS.

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 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 payout ratio is 89.47%.

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.