Voya Investment Management LLC Sells 6,996 Shares of Worthington Enterprises, Inc. $WOR

Key Points

• Voya Investment Management LLC has reduced its stake in Worthington Enterprises, Inc. by 44.7%, selling 6,996 shares, resulting in ownership of 8,656 shares valued at approximately $434,000.
• Several institutional investors, including Hotchkis & Wiley Capital Management and Jacobs Levy Equity Management, significantly increased their positions in Worthington Enterprises during the first quarter.
• Worthington Enterprises is announcing a quarterly dividend of $0.19 per share, which will be paid on December 29th, representing an annual yield of 1.4%.

Voya Investment Management LLC decreased its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 44.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,656 shares of the industrial products company's stock after selling 6,996 shares during the quarter. Voya Investment Management LLC's holdings in Worthington Enterprises were worth $434,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Worthington Enterprises in the 1st quarter worth approximately $11,769,000. American Century Companies Inc. grew its holdings in shares of Worthington Enterprises by 24.1% during the first quarter. American Century Companies Inc. now owns 821,947 shares of the industrial products company's stock worth $41,171,000 after buying an additional 159,798 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Worthington Enterprises by 54.9% in the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company's stock valued at $17,656,000 after purchasing an additional 124,867 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Worthington Enterprises by 739.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 122,141 shares of the industrial products company's stock valued at $6,118,000 after buying an additional 107,590 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Worthington Enterprises during the first quarter worth about $4,103,000. Hedge funds and other institutional investors own 51.59% of the company's stock.

Insiders Place Their Bets

In other news, Director Michael J. Endres acquired 10,000 shares of Worthington Enterprises stock in a transaction that occurred on Thursday, September 25th. The shares were acquired at an average price of $52.95 per share, for a total transaction of $529,500.00. Following the transaction, the director directly owned 95,524 shares of the company's stock, valued at approximately $5,057,995.80. The trade was a 11.69% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on WOR shares. CJS Securities upgraded shares of Worthington Enterprises from a "market perform" rating to an "outperform" rating and set a $64.00 price target on the stock in a research note on Wednesday. The Goldman Sachs Group boosted their price objective on shares of Worthington Enterprises from $44.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, June 26th. Zacks Research downgraded shares of Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Canaccord Genuity Group decreased their price target on Worthington Enterprises from $81.00 to $73.00 and set a "buy" rating for the company in a report on Thursday. Finally, Wall Street Zen upgraded Worthington Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 24th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Worthington Enterprises presently has an average rating of "Moderate Buy" and a consensus target price of $62.33.

Worthington Enterprises Stock Performance

NYSE:WOR opened at $54.30 on Friday. The company has a current ratio of 3.30, a quick ratio of 2.62 and a debt-to-equity ratio of 0.32. Worthington Enterprises, Inc. has a 1-year low of $37.88 and a 1-year high of $70.91. The stock has a market cap of $2.70 billion, a P/E ratio of 25.49 and a beta of 1.20. The stock has a 50 day simple moving average of $63.17 and a 200 day simple moving average of $57.76.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its quarterly earnings results on Tuesday, September 23rd. The industrial products company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.04. The company had revenue of $303.70 million during the quarter, compared to analysts' expectations of $291.84 million. Worthington Enterprises had a return on equity of 17.70% and a net margin of 8.91%.Worthington Enterprises's revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 EPS. Research analysts anticipate that Worthington Enterprises, Inc. will post 2.67 earnings per share for the current year.

Worthington Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 15th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. Worthington Enterprises's payout ratio is currently 35.68%.

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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