Frazier Financial Advisors LLC Grows Stock Holdings in Worthington Enterprises, Inc. (NYSE:WOR)

Frazier Financial Advisors LLC raised its position in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 48.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,846 shares of the industrial products company’s stock after buying an additional 3,214 shares during the period. Frazier Financial Advisors LLC’s holdings in Worthington Enterprises were worth $408,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. KBC Group NV lifted its position in shares of Worthington Enterprises by 45.1% during the third quarter. KBC Group NV now owns 1,136 shares of the industrial products company’s stock valued at $47,000 after buying an additional 353 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Worthington Enterprises during the second quarter valued at about $57,000. nVerses Capital LLC purchased a new stake in shares of Worthington Enterprises during the third quarter valued at about $83,000. EntryPoint Capital LLC lifted its position in shares of Worthington Enterprises by 255.3% during the first quarter. EntryPoint Capital LLC now owns 1,723 shares of the industrial products company’s stock valued at $107,000 after buying an additional 1,238 shares during the last quarter. Finally, Eastern Bank purchased a new stake in shares of Worthington Enterprises during the third quarter valued at about $121,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Canaccord Genuity Group restated a “hold” rating and set a $46.00 price objective on shares of Worthington Enterprises in a report on Friday, October 4th. StockNews.com upgraded shares of Worthington Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, Canaccord Genuity Group cut their price objective on shares of Worthington Enterprises from $52.00 to $46.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.00.

Insider Transactions at Worthington Enterprises

In other news, CFO Joseph B. Hayek acquired 2,500 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were acquired at an average price of $40.21 per share, with a total value of $100,525.00. Following the purchase, the chief financial officer now directly owns 168,875 shares of the company’s stock, valued at $6,790,463.75. This trade represents a 1.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 37.50% of the company’s stock.

Worthington Enterprises Price Performance

Shares of NYSE:WOR opened at $40.07 on Friday. Worthington Enterprises, Inc. has a twelve month low of $38.27 and a twelve month high of $69.96. The company’s 50 day moving average is $41.60 and its 200 day moving average is $47.30. The company has a current ratio of 3.47, a quick ratio of 2.34 and a debt-to-equity ratio of 0.33. The company has a market cap of $2.01 billion, a PE ratio of 52.72 and a beta of 1.26.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings results on Tuesday, September 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.21). Worthington Enterprises had a return on equity of 12.23% and a net margin of 1.96%. The business had revenue of $257.31 million during the quarter, compared to analyst estimates of $296.05 million. During the same quarter last year, the company posted $2.06 EPS. Worthington Enterprises’s quarterly revenue was down 17.5% compared to the same quarter last year.

Worthington Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.70%. Worthington Enterprises’s payout ratio is 89.47%.

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.