Eastern Bank Acquires New Shares in Worthington Enterprises, Inc. (NYSE:WOR)

Eastern Bank acquired a new position in Worthington Enterprises, Inc. (NYSE:WOR) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 2,922 shares of the industrial products company’s stock, valued at approximately $121,000.

Several other hedge funds have also recently bought and sold shares of WOR. Sequoia Financial Advisors LLC lifted its position in shares of Worthington Enterprises by 111.5% in the third quarter. Sequoia Financial Advisors LLC now owns 9,307 shares of the industrial products company’s stock worth $386,000 after buying an additional 4,907 shares during the last quarter. Cardinal Capital Management raised its stake in shares of Worthington Enterprises by 26.5% in the 3rd quarter. Cardinal Capital Management now owns 21,347 shares of the industrial products company’s stock valued at $885,000 after acquiring an additional 4,477 shares in the last quarter. nVerses Capital LLC acquired a new stake in Worthington Enterprises in the 3rd quarter worth approximately $83,000. Vontobel Holding Ltd. boosted its position 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 purchasing an additional 18,154 shares during the period. Finally, Creative Planning boosted its position in Worthington Enterprises by 8.8% during the third quarter. Creative Planning now owns 13,234 shares of the industrial products company’s stock worth $549,000 after purchasing an additional 1,074 shares during the period. 51.59% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Worthington Enterprises

In other news, CFO Joseph B. Hayek bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was acquired at an average cost of $40.21 per share, for a total transaction of $100,525.00. Following the completion of the purchase, the chief financial officer now owns 168,875 shares of the company’s stock, valued at $6,790,463.75. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 37.50% of the stock is owned by insiders.

Worthington Enterprises Trading Down 0.5 %

Shares of WOR stock opened at $38.60 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. Worthington Enterprises, Inc. has a 1 year low of $36.61 and a 1 year high of $69.96. The firm’s fifty day simple moving average is $43.03 and its 200 day simple moving average is $49.32. The firm has a market capitalization of $1.94 billion, a P/E ratio of 50.79 and a beta of 1.25.

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

Worthington Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.76%. Worthington Enterprises’s dividend payout ratio is currently 89.47%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Canaccord Genuity Group cut their target price on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. 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. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $46.00 price objective on shares of Worthington Enterprises in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.00.

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.