Principal Financial Group Inc. Lowers Stake in Worthington Enterprises, Inc. (NYSE:WOR)

Principal Financial Group Inc. decreased its position in Worthington Enterprises, Inc. (NYSE:WOR) by 11.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,195 shares of the industrial products company’s stock after selling 18,371 shares during the quarter. Principal Financial Group Inc.’s holdings in Worthington Enterprises were worth $6,101,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC acquired a new stake in Worthington Enterprises during the 3rd quarter worth approximately $3,663,000. Franklin Resources Inc. raised its stake in shares of Worthington Enterprises by 7.5% in the third quarter. Franklin Resources Inc. now owns 18,604 shares of the industrial products company’s stock valued at $751,000 after acquiring an additional 1,293 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Worthington Enterprises by 10.8% in the third quarter. Coldstream Capital Management Inc. now owns 25,684 shares of the industrial products company’s stock valued at $1,065,000 after acquiring an additional 2,498 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Worthington Enterprises by 3.3% in the third quarter. Geode Capital Management LLC now owns 813,828 shares of the industrial products company’s stock valued at $33,739,000 after purchasing an additional 25,824 shares during the period. Finally, Barclays PLC grew its stake in Worthington Enterprises by 24.8% during the 3rd quarter. Barclays PLC now owns 128,158 shares of the industrial products company’s stock worth $5,312,000 after purchasing an additional 25,453 shares in the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Worthington Enterprises

In other news, CFO Joseph B. Hayek acquired 2,500 shares of Worthington Enterprises stock in a transaction on Friday, October 11th. The stock was bought at an average price 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 in the company, valued at $6,790,463.75. This represents a 1.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 37.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. Canaccord Genuity Group decreased their price target on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Finally, Canaccord Genuity Group increased their price objective on shares of Worthington Enterprises from $46.00 to $49.00 and gave the company a “hold” rating in a research report on Thursday, December 19th.

Worthington Enterprises Trading Up 0.1 %

WOR opened at $40.11 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.34 and a current ratio of 3.47. Worthington Enterprises, Inc. has a one year low of $37.88 and a one year high of $69.96. The company has a market cap of $2.02 billion, a P/E ratio of 52.78 and a beta of 1.26. The business’s 50-day simple moving average is $40.39 and its 200-day simple moving average is $43.49.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results on Tuesday, December 17th. The industrial products company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $274.05 million for the quarter, compared to analyst estimates of $273.77 million. Worthington Enterprises had a net margin of 1.96% and a return on equity of 12.23%. The firm’s revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 earnings per share.

Worthington Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.70%. Worthington Enterprises’s dividend payout ratio (DPR) is presently 81.93%.

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.