PNC Financial Services Group Inc. Sells 265 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

PNC Financial Services Group Inc. decreased its holdings in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,050 shares of the industrial products company’s stock after selling 265 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Worthington Enterprises were worth $1,246,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Creative Planning raised its position in shares of Worthington Enterprises by 2.0% in the 2nd quarter. Creative Planning now owns 12,160 shares of the industrial products company’s stock worth $576,000 after acquiring an additional 244 shares in the last quarter. Comerica Bank lifted its holdings in shares of Worthington Enterprises by 0.5% in the 1st quarter. Comerica Bank now owns 46,919 shares of the industrial products company’s stock worth $2,920,000 after purchasing an additional 250 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Worthington Enterprises by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the industrial products company’s stock worth $729,000 after purchasing an additional 300 shares in the last quarter. KBC Group NV grew its position in Worthington Enterprises by 45.1% in the 3rd quarter. KBC Group NV now owns 1,136 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 353 shares during the period. Finally, Hsbc Holdings PLC increased its stake in Worthington Enterprises by 10.9% during the 2nd quarter. Hsbc Holdings PLC now owns 4,531 shares of the industrial products company’s stock valued at $214,000 after purchasing an additional 445 shares in the last quarter. Institutional investors own 51.59% of the company’s stock.

Worthington Enterprises Stock Up 1.1 %

Worthington Enterprises stock opened at $40.63 on Thursday. The firm has a 50 day moving average price of $40.88 and a 200-day moving average price of $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, Inc. has a twelve month low of $38.24 and a twelve 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 released its earnings results on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The firm had revenue of $257.31 million during the quarter, compared to analysts’ expectations of $296.05 million. During the same period in the prior year, the business earned $2.06 earnings per share. The business’s quarterly revenue was down 17.5% compared to the same quarter last year.

Worthington Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Friday, December 13th. Worthington Enterprises’s payout ratio is currently 89.47%.

Insider Activity

In other Worthington Enterprises news, CFO Joseph B. Hayek acquired 2,500 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was bought at an average price of $40.21 per share, with a total value of $100,525.00. Following the completion of the acquisition, the chief financial officer now owns 168,875 shares of the company’s stock, valued at $6,790,463.75. This trade represents a 1.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 37.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WOR shares. StockNews.com raised shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Canaccord Genuity Group reduced 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 note on Thursday, September 26th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $46.00 target price on shares of Worthington Enterprises in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.00.

Worthington Enterprises Company 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.