Bank of New York Mellon Corp Sells 8,804 Shares of Worthington Enterprises, Inc. (NYSE:WOR)

Bank of New York Mellon Corp trimmed its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 405,742 shares of the industrial products company's stock after selling 8,804 shares during the period. Bank of New York Mellon Corp owned approximately 0.81% of Worthington Enterprises worth $20,324,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Quadrant Capital Group LLC increased its position in shares of Worthington Enterprises by 121.0% during the fourth quarter. Quadrant Capital Group LLC now owns 831 shares of the industrial products company's stock worth $33,000 after acquiring an additional 455 shares in the last quarter. Anchor Investment Management LLC bought a new position in Worthington Enterprises in the 4th quarter valued at about $40,000. State of Wyoming acquired a new stake in shares of Worthington Enterprises during the 4th quarter valued at $51,000. Itau Unibanco Holding S.A. boosted its position in Worthington Enterprises by 41.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,696 shares of the industrial products company's stock worth $68,000 after buying an additional 501 shares during the period. Finally, GAMMA Investing LLC boosted its position in Worthington Enterprises by 77.2% during the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the industrial products company's stock worth $82,000 after buying an additional 716 shares during the period. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Worthington Enterprises Stock Performance

NYSE:WOR traded down $0.67 during mid-day trading on Friday, reaching $62.18. The company's stock had a trading volume of 304,659 shares, compared to its average volume of 301,549. Worthington Enterprises, Inc. has a 12-month low of $37.88 and a 12-month high of $70.91. The firm's fifty day moving average price is $61.00 and its two-hundred day moving average price is $50.22. The company has a current ratio of 3.48, a quick ratio of 2.62 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.10 billion, a P/E ratio of 32.55 and a beta of 1.19.

Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.22. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%. The company had revenue of $317.88 million during the quarter, compared to the consensus estimate of $300.96 million. During the same period in the previous year, the company posted $0.74 EPS. The firm's revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that Worthington Enterprises, Inc. will post 2.67 EPS for the current fiscal year.

Worthington Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a dividend of $0.19 per share. This is an increase from Worthington Enterprises's previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.22%. Worthington Enterprises's dividend payout ratio is currently 39.79%.

Analyst Upgrades and Downgrades

WOR has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Worthington Enterprises from $44.00 to $50.00 and gave the company a "sell" rating in a research report on Thursday, June 26th. Canaccord Genuity Group boosted their target price on shares of Worthington Enterprises from $69.00 to $81.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Worthington Enterprises currently has an average rating of "Hold" and an average price target of $59.00.

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.