Worthington Enterprises, Inc. (NYSE:WOR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Worthington Enterprises, Inc. (NYSE:WOR - Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 405,742 shares of the industrial products company's stock after selling 8,804 shares during the quarter. Bank of New York Mellon Corp owned about 0.81% of Worthington Enterprises worth $20,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in shares of Worthington Enterprises by 11.5% during the fourth quarter. American Century Companies Inc. now owns 662,149 shares of the industrial products company's stock valued at $26,559,000 after buying an additional 68,363 shares during the last quarter. Northern Trust Corp lifted its position in Worthington Enterprises by 7.4% during the fourth quarter. Northern Trust Corp now owns 380,851 shares of the industrial products company's stock valued at $15,276,000 after purchasing an additional 26,178 shares during the period. Balyasny Asset Management L.P. lifted its position in Worthington Enterprises by 236.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 222,281 shares of the industrial products company's stock valued at $8,916,000 after purchasing an additional 156,173 shares during the period. Lord Abbett & CO. LLC lifted its position in Worthington Enterprises by 132.4% during the fourth quarter. Lord Abbett & CO. LLC now owns 205,330 shares of the industrial products company's stock valued at $8,236,000 after purchasing an additional 116,964 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Worthington Enterprises by 44.0% during the fourth quarter. JPMorgan Chase & Co. now owns 198,848 shares of the industrial products company's stock valued at $7,976,000 after purchasing an additional 60,733 shares during the period. Hedge funds and other institutional investors own 51.59% of the company's stock.

Worthington Enterprises Stock Performance

Shares of WOR traded up $0.41 during trading hours on Tuesday, hitting $62.54. The stock had a trading volume of 232,757 shares, compared to its average volume of 301,476. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.62 and a current ratio of 3.48. The firm has a 50-day moving average price of $61.03 and a 200 day moving average price of $50.52. Worthington Enterprises, Inc. has a fifty-two week low of $37.88 and a fifty-two week high of $70.91. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 32.74 and a beta of 1.19.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its earnings results on Tuesday, June 24th. The industrial products company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.22. The business had revenue of $317.88 million during the quarter, compared to analysts' expectations of $300.96 million. Worthington Enterprises had a net margin of 8.33% and a return on equity of 16.66%. The company's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 earnings per share. As a group, research analysts anticipate that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.22%. This is a positive change from Worthington Enterprises's previous quarterly dividend of $0.17. Worthington Enterprises's dividend payout ratio (DPR) is 35.60%.

Wall Street Analyst Weigh In

WOR has been the subject of several research analyst reports. The Goldman Sachs Group raised their target price on shares of Worthington Enterprises from $44.00 to $50.00 and gave the company a "sell" rating in a research note on Thursday, June 26th. Canaccord Genuity Group lifted their price objective on shares of Worthington Enterprises from $69.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $59.00.

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.