Pacer Advisors Inc. Boosts Stake in Worthington Enterprises, Inc. (NYSE:WOR)

Pacer Advisors Inc. grew its stake in Worthington Enterprises, Inc. (NYSE:WOR) by 9.7% during the fourth quarter, HoldingsChannel reports. The fund owned 1,770,924 shares of the industrial products company’s stock after acquiring an additional 156,762 shares during the quarter. Pacer Advisors Inc.’s holdings in Worthington Enterprises were worth $71,032,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. KBC Group NV increased 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 worth $47,000 after purchasing an additional 353 shares in the last quarter. nVerses Capital LLC purchased a new position in Worthington Enterprises during the 3rd quarter worth $83,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Worthington Enterprises during the 3rd quarter valued at about $85,000. Point72 DIFC Ltd purchased a new stake in Worthington Enterprises in the third quarter valued at about $110,000. Finally, Eastern Bank purchased a new stake in Worthington Enterprises in the third quarter valued at about $121,000. 51.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their price objective on shares of Worthington Enterprises from $46.00 to $49.00 and gave the company a “hold” rating in a report on Thursday, December 19th.

Worthington Enterprises Trading Up 1.0 %

Worthington Enterprises stock opened at $41.83 on Monday. The stock has a 50-day moving average price of $40.59 and a 200 day moving average price of $42.64. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 50.40 and a beta of 1.25. Worthington Enterprises, Inc. has a 52 week low of $37.88 and a 52 week high of $69.96. The company has a quick ratio of 2.50, a current ratio of 3.56 and a debt-to-equity ratio of 0.32.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings data on Tuesday, December 17th. The industrial products company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. The business had revenue of $274.05 million for the quarter, compared to the consensus estimate of $273.77 million. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS.

Worthington Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.63%. Worthington Enterprises’s dividend payout ratio is currently 81.93%.

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.