Bank of America Corp DE Sells 17,750 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Bank of America Corp DE trimmed its position in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 10.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 150,906 shares of the industrial products company's stock after selling 17,750 shares during the period. Bank of America Corp DE owned 0.30% of Worthington Enterprises worth $6,053,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. lifted its stake in shares of Worthington Enterprises by 41.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company's stock valued at $68,000 after acquiring an additional 501 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Worthington Enterprises in the 4th quarter valued at $984,000. Lido Advisors LLC bought a new position in Worthington Enterprises during the 4th quarter worth $2,317,000. Northern Trust Corp raised its position in Worthington Enterprises by 7.4% during the 4th quarter. Northern Trust Corp now owns 380,851 shares of the industrial products company's stock worth $15,276,000 after purchasing an additional 26,178 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in Worthington Enterprises by 132.4% during the 4th quarter. Lord Abbett & CO. LLC now owns 205,330 shares of the industrial products company's stock worth $8,236,000 after purchasing an additional 116,964 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WOR has been the subject of several analyst reports. The Goldman Sachs Group raised their target price on Worthington Enterprises from $39.00 to $44.00 and gave the stock a "sell" rating in a research report on Thursday, April 3rd. Canaccord Genuity Group upgraded Worthington Enterprises from a "hold" rating to a "buy" rating and increased their price target for the stock from $54.00 to $67.00 in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $52.33.

Worthington Enterprises Stock Performance

Shares of NYSE:WOR traded down $0.18 during mid-day trading on Friday, reaching $58.98. The company had a trading volume of 254,641 shares, compared to its average volume of 312,711. The company has a current ratio of 3.56, a quick ratio of 2.50 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 71.06 and a beta of 1.18. The company's 50-day moving average price is $52.57 and its 200-day moving average price is $45.10. Worthington Enterprises, Inc. has a one year low of $37.88 and a one year high of $61.71.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings data on Tuesday, March 25th. The industrial products company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.18. Worthington Enterprises had a net margin of 3.66% and a return on equity of 14.70%. The business had revenue of $304.52 million during the quarter, compared to analyst estimates of $289.09 million. During the same period in the previous year, the business earned $0.80 EPS. Worthington Enterprises's revenue was down 3.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Worthington Enterprises, Inc. will post 2.67 EPS for the current fiscal year.

Worthington Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.15%. Worthington Enterprises's dividend payout ratio (DPR) is currently 57.63%.

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.