203,476 Shares in Worthington Enterprises, Inc. $WOR Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 203,476 shares of Worthington Enterprises during the second quarter, valued at approximately $10.9 million and representing about 0.42% of the company. Institutional investors collectively own 51.59% of the stock.
• Worthington Enterprises exceeded quarterly expectations, reporting $0.82 in EPS versus the $0.75 consensus estimate and revenue of $343.89 million, up 13.2% year over year.
• The company declared a quarterly dividend of $0.20 per share, or $0.80 annually, yielding approximately 1.3%. Analysts maintain a “Moderate Buy” consensus with an average price target of $75.

Bank of America Corp DE acquired a new position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 203,476 shares of the industrial products company's stock, valued at approximately $10,939,000. Bank of America Corp DE owned about 0.42% of Worthington Enterprises as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Worthington Enterprises during the second quarter worth $283,372,000. Windsor Advisory Group LLC lifted its stake in Worthington Enterprises by 23.5% in the first quarter. Windsor Advisory Group LLC now owns 459,633 shares of the industrial products company's stock valued at $23,965,000 after buying an additional 87,351 shares during the period. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Worthington Enterprises during the 1st quarter worth approximately $23,824,000. Bank of New York Mellon Corp bought a new position in shares of Worthington Enterprises during the 2nd quarter worth approximately $18,376,000. Finally, Principal Financial Group Inc. grew its position in shares of Worthington Enterprises by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 152,026 shares of the industrial products company's stock worth $7,927,000 after buying an additional 2,723 shares during the period. 51.59% of the stock is owned by institutional investors.

Worthington Enterprises Price Performance

WOR stock opened at $62.37 on Friday. The company has a market capitalization of $3.05 billion, a P/E ratio of 18.84 and a beta of 1.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.43 and a current ratio of 2.67. Worthington Enterprises, Inc. has a 52-week low of $45.01 and a 52-week high of $67.54. The business has a 50-day simple moving average of $57.84 and a two-hundred day simple moving average of $55.63.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its quarterly earnings data on Tuesday, September 22nd. The industrial products company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07. Worthington Enterprises had a return on equity of 16.71% and a net margin of 11.50%.The firm had revenue of $343.89 million during the quarter, compared to the consensus estimate of $331.26 million. During the same period in the prior year, the business posted $0.74 earnings per share. The company's quarterly revenue was up 13.2% compared to the same quarter last year. Research analysts expect that Worthington Enterprises, Inc. will post 3.8 EPS for the current fiscal year.

Worthington Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, December 15th. This represents a $0.80 annualized dividend and a yield of 1.3%. Worthington Enterprises's dividend payout ratio (DPR) is 24.17%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Worthington Enterprises in a research report on Friday, July 17th. Canaccord Genuity Group raised their price target on shares of Worthington Enterprises from $67.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Wall Street Zen lowered Worthington Enterprises from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Worthington Enterprises presently has a consensus rating of "Moderate Buy" and an average price target of $75.00.

Insider Transactions at Worthington Enterprises

In other Worthington Enterprises news, major shareholder John McConnell sold 17,625 shares of Worthington Enterprises stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.04, for a total transaction of $934,830.00. Following the transaction, the insider directly owned 1,335,648 shares of the company's stock, valued at $70,842,769.92. The trade was a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.

Worthington Enterprises Company Profile

Worthington Enterprises, Inc NYSE: WOR is a diversified manufacturer and branded products company focused primarily on consumer and building-product markets. The company develops, manufactures and markets products used by consumers, contractors and other professional customers.

Its consumer products activities include outdoor living, lawn and garden, tools and related products. Its portfolio has included brands such as Bernzomatic, Balloon Time, Mag-Torch and General Tools, although its product portfolio may change as the company manages its businesses and brands.

Worthington Enterprises also participates in the building-products industry, supplying products used in commercial and residential construction.

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