Worthington Enterprises, Inc. $WOR Shares Sold by Denali Advisors LLC

Key Points

• Denali Advisors LLC reduced its holdings in Worthington Enterprises by 45.3%, now owning approximately 62,732 shares valued at $3.99 million.
• Director Michael J. Endres purchased 10,000 shares at a total value of $529,500, increasing his shareholding by 11.69%.
• Worthington Enterprises has a consensus rating of "Moderate Buy" with a revised price target from analysts ranging between $50.00 to $73.00.

Denali Advisors LLC decreased its holdings in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 45.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,732 shares of the industrial products company's stock after selling 52,020 shares during the quarter. Denali Advisors LLC owned about 0.13% of Worthington Enterprises worth $3,992,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC lifted its position in Worthington Enterprises by 61.0% during the 2nd quarter. ORG Partners LLC now owns 660 shares of the industrial products company's stock worth $43,000 after acquiring an additional 250 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Worthington Enterprises during the 2nd quarter valued at about $46,000. Quarry LP purchased a new position in shares of Worthington Enterprises during the 1st quarter valued at about $49,000. CWM LLC raised its stake in shares of Worthington Enterprises by 33.5% during the 2nd quarter. CWM LLC now owns 813 shares of the industrial products company's stock valued at $52,000 after buying an additional 204 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Worthington Enterprises during the 1st quarter valued at about $75,000. Institutional investors and hedge funds own 51.59% of the company's stock.

Insider Buying and Selling

In related news, Director Michael J. Endres bought 10,000 shares of the company's stock in a transaction on Thursday, September 25th. The stock was bought at an average cost of $52.95 per share, with a total value of $529,500.00. Following the completion of the acquisition, the director owned 95,524 shares in the company, valued at approximately $5,057,995.80. This represents a 11.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on Worthington Enterprises from $44.00 to $50.00 and gave the company a "sell" rating in a research note on Thursday, June 26th. Wall Street Zen lowered Worthington Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 11th. Canaccord Genuity Group cut their price target on Worthington Enterprises from $81.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, September 25th. Zacks Research lowered Worthington Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Worthington Enterprises in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Worthington Enterprises has a consensus rating of "Moderate Buy" and a consensus price target of $62.33.

Worthington Enterprises Trading Up 0.8%

WOR opened at $57.18 on Wednesday. Worthington Enterprises, Inc. has a one year low of $37.88 and a one year high of $70.91. The stock has a market capitalization of $2.84 billion, a PE ratio of 26.85 and a beta of 1.17. The business's 50 day moving average price is $60.97 and its 200 day moving average price is $59.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.24 and a current ratio of 3.30.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its earnings results on Wednesday, December 28th. The industrial products company reported $2.12 EPS for the quarter. The firm had revenue of $1.23 billion for the quarter. Worthington Enterprises had a return on equity of 17.70% and a net margin of 8.91%. As a group, equities research analysts expect that Worthington Enterprises, Inc. will post 2.67 EPS 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 $0.19 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.3%. Worthington Enterprises's dividend payout ratio (DPR) is presently 35.68%.

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.

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