Pacer Advisors Inc. Sells 189,007 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Pacer Advisors Inc. cut its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 6.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,633,353 shares of the industrial products company’s stock after selling 189,007 shares during the period. Pacer Advisors Inc. owned 0.05% of Worthington Enterprises worth $124,637,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jump Financial LLC bought a new position in shares of Worthington Enterprises during the 4th quarter valued at about $204,000. Principal Financial Group Inc. boosted its position in shares of Worthington Enterprises by 38.7% during the fourth quarter. Principal Financial Group Inc. now owns 158,912 shares of the industrial products company’s stock worth $9,145,000 after buying an additional 44,372 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Worthington Enterprises by 1.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,863 shares of the industrial products company’s stock worth $1,661,000 after buying an additional 350 shares in the last quarter. Norges Bank acquired a new stake in Worthington Enterprises in the 4th quarter valued at approximately $19,073,000. Finally, TFO Wealth Partners LLC lifted its stake in Worthington Enterprises by 60,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,824 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 1,821 shares in the last quarter. 51.59% of the stock is owned by institutional investors and hedge funds.

Worthington Enterprises Price Performance

Shares of Worthington Enterprises stock opened at $45.88 on Friday. The company has a quick ratio of 2.86, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 20.76 and a beta of 1.25. Worthington Enterprises, Inc. has a twelve month low of $36.29 and a twelve month high of $69.96. The company has a 50-day simple moving average of $45.97 and a two-hundred day simple moving average of $52.88.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings results on Wednesday, June 26th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). The company had revenue of $318.80 million for the quarter, compared to analyst estimates of $352.82 million. Worthington Enterprises had a return on equity of 15.57% and a net margin of 3.79%. The company’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.74 EPS.

Worthington Enterprises Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.16. Worthington Enterprises’s payout ratio is 30.77%.

Analysts Set New Price Targets

WOR has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating on the stock in a research report on Tuesday, July 2nd. Canaccord Genuity Group reduced their target price on Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, June 27th. Finally, StockNews.com downgraded shares of Worthington Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.33.

About Worthington Enterprises

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.