Jacobs Levy Equity Management Inc. Cuts Position in Worthington Enterprises, Inc. (NYSE:WOR)

Jacobs Levy Equity Management Inc. trimmed its position in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 37.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,156 shares of the industrial products company’s stock after selling 16,185 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.05% of Worthington Enterprises worth $1,126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC increased its stake in Worthington Enterprises by 24.8% during the third quarter. Fisher Asset Management LLC now owns 70,265 shares of the industrial products company’s stock worth $2,912,000 after purchasing an additional 13,974 shares during the period. American Century Companies Inc. increased its stake in Worthington Enterprises by 43.7% during the 2nd quarter. American Century Companies Inc. now owns 568,678 shares of the industrial products company’s stock worth $26,916,000 after buying an additional 172,850 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Worthington Enterprises by 111.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,307 shares of the industrial products company’s stock worth $386,000 after buying an additional 4,907 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in Worthington Enterprises in the second quarter valued at $2,044,000. Finally, Intech Investment Management LLC purchased a new stake in Worthington Enterprises during the 3rd quarter worth about $633,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Worthington Enterprises

In related news, CFO Joseph B. Hayek bought 2,500 shares of the stock in a transaction on Friday, October 11th. The shares were bought at an average cost of $40.21 per share, for a total transaction of $100,525.00. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 37.50% of the stock is currently owned by company insiders.

Worthington Enterprises Price Performance

Shares of WOR opened at $40.83 on Monday. The firm has a fifty day moving average price of $40.52 and a 200 day moving average price of $45.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.47 and a quick ratio of 2.34. Worthington Enterprises, Inc. has a 1-year low of $38.24 and a 1-year high of $69.96. The stock has a market cap of $2.05 billion, a PE ratio of 53.72 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR) last released its quarterly 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). The firm had revenue of $257.31 million for the quarter, compared to analysts’ expectations of $296.05 million. Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The company’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.06 EPS.

Worthington Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, December 13th. Worthington Enterprises’s payout ratio is currently 89.47%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WOR shares. Canaccord Genuity Group lowered their price objective on Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. StockNews.com raised Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $46.00 price target on shares of Worthington Enterprises in a report on Friday, October 4th.

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.