Denali Advisors LLC Purchases 21,164 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Denali Advisors LLC raised its position in Worthington Enterprises, Inc. (NYSE:WOR) by 35.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,021 shares of the industrial products company’s stock after buying an additional 21,164 shares during the quarter. Worthington Enterprises comprises about 1.5% of Denali Advisors LLC’s holdings, making the stock its 17th largest position. Denali Advisors LLC owned about 0.16% of Worthington Enterprises worth $5,042,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WOR. Envestnet Asset Management Inc. grew its position in shares of Worthington Enterprises by 16.1% in the third quarter. Envestnet Asset Management Inc. now owns 106,612 shares of the industrial products company’s stock valued at $6,591,000 after purchasing an additional 14,759 shares in the last quarter. FMR LLC grew its position in shares of Worthington Enterprises by 3,957.0% in the third quarter. FMR LLC now owns 90,674 shares of the industrial products company’s stock valued at $5,605,000 after purchasing an additional 88,439 shares in the last quarter. Invesco Ltd. grew its position in Worthington Enterprises by 39.6% during the third quarter. Invesco Ltd. now owns 273,139 shares of the industrial products company’s stock worth $16,885,000 after buying an additional 77,471 shares in the last quarter. Trexquant Investment LP grew its position in Worthington Enterprises by 109.6% during the third quarter. Trexquant Investment LP now owns 34,279 shares of the industrial products company’s stock worth $2,119,000 after buying an additional 17,928 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Worthington Enterprises by 128.4% during the third quarter. Tower Research Capital LLC TRC now owns 6,707 shares of the industrial products company’s stock worth $415,000 after buying an additional 3,771 shares in the last quarter. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on WOR. Canaccord Genuity Group reduced their target price on Worthington Enterprises from $64.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, June 27th. The Goldman Sachs Group cut their price objective on Worthington Enterprises from $56.00 to $43.00 and set a “sell” rating for the company in a report on Tuesday. Finally, StockNews.com cut Worthington Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.33.

Worthington Enterprises Stock Up 2.3 %

Shares of WOR stock traded up $1.02 during midday trading on Wednesday, reaching $46.20. 131,721 shares of the stock were exchanged, compared to its average volume of 300,360. Worthington Enterprises, Inc. has a 1 year low of $36.29 and a 1 year high of $69.96. The company’s 50 day moving average is $55.02 and its two-hundred day moving average is $57.79. The company has a current ratio of 3.78, a quick ratio of 2.86 and a debt-to-equity ratio of 0.33. The firm has a market cap of $2.31 billion, a PE ratio of 20.90 and a beta of 1.29.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings results on Wednesday, June 26th. The industrial products company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.14). The company had revenue of $318.80 million during the quarter, compared to analysts’ expectations of $352.82 million. Worthington Enterprises had a return on equity of 15.57% and a net margin of 3.79%. The business’s quarterly revenue was down 13.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.74 EPS.

Insider Buying and Selling at Worthington Enterprises

In other Worthington Enterprises news, Director Ozey K. Horton, Jr. sold 1,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $61.34, for a total transaction of $61,340.00. Following the sale, the director now directly owns 40,688 shares in the company, valued at approximately $2,495,801.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 38.50% of the company’s stock.

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.