Vontobel Holding Ltd. Lowers Position in Worthington Enterprises, Inc. $WOR

Key Points

• Vontobel Holding Ltd. has reduced its stake in Worthington Enterprises, Inc. by 7.2%, selling 8,495 shares and now owning approximately 0.22% of the company, valued at about $7 million.
• Insider purchases included a 10,000 share acquisition by Director Michael J. Endres, increasing his ownership by 11.69% to a total of 95,524 shares.
• Worthington Enterprises announced a quarterly dividend of $0.19 per share, resulting in an annualized yield of 1.4% and a payout ratio of 35.68%.

Vontobel Holding Ltd. cut its holdings in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,002 shares of the industrial products company's stock after selling 8,495 shares during the quarter. Vontobel Holding Ltd. owned approximately 0.22% of Worthington Enterprises worth $7,001,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new stake in Worthington Enterprises in the first quarter worth about $256,000. GAMMA Investing LLC lifted its stake in Worthington Enterprises by 77.2% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company's stock worth $82,000 after acquiring an additional 716 shares during the period. Mutual of America Capital Management LLC purchased a new stake in Worthington Enterprises in the first quarter worth about $226,000. Y Intercept Hong Kong Ltd lifted its position in shares of Worthington Enterprises by 44.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 8,794 shares of the industrial products company's stock valued at $440,000 after buying an additional 2,704 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Worthington Enterprises during the first quarter valued at about $4,082,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Worthington Enterprises news, Director Michael J. Endres purchased 10,000 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The shares were bought at an average price of $52.95 per share, for a total transaction of $529,500.00. Following the acquisition, the director owned 95,524 shares in the company, valued at $5,057,995.80. This represents a 11.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.40% of the company's stock.

Worthington Enterprises Stock Performance

Shares of Worthington Enterprises stock opened at $54.98 on Friday. The firm has a market capitalization of $2.73 billion, a P/E ratio of 25.81 and a beta of 1.17. The company has a quick ratio of 2.24, a current ratio of 3.30 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average price of $61.88 and a 200 day moving average price of $58.65. Worthington Enterprises, Inc. has a 52 week low of $37.88 and a 52 week high of $70.91.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its quarterly earnings data on Wednesday, December 28th. The industrial products company reported $2.12 EPS for the quarter. The firm had revenue of $1.23 billion during the quarter. Worthington Enterprises had a net margin of 8.91% and a return on equity of 17.70%. Sell-side analysts expect that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 15th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, December 15th. Worthington Enterprises's dividend payout ratio is 35.68%.

Wall Street Analyst Weigh In

Several analysts have commented on WOR shares. CJS Securities raised shares of Worthington Enterprises from a "market perform" rating to an "outperform" rating and set a $64.00 price target for the company in a research report on Wednesday, September 24th. Wall Street Zen lowered shares of Worthington Enterprises from a "strong-buy" rating to a "buy" rating in a research report on Saturday. The Goldman Sachs Group increased their price target on shares of Worthington Enterprises from $44.00 to $50.00 and gave the company a "sell" rating in a research report on Thursday, June 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Worthington Enterprises in a research report on Wednesday. Finally, Canaccord Genuity Group decreased their price target on shares of Worthington Enterprises from $81.00 to $73.00 and set a "buy" rating for the company in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Worthington Enterprises has an average rating of "Moderate Buy" and a consensus price target of $62.33.

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.

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