Bank of New York Mellon Corp Takes $18.38 Million Position in Worthington Enterprises, Inc. $WOR

Bank of New York Mellon Corp acquired a new stake in Worthington Enterprises, Inc. (NYSE:WOR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 341,816 shares of the industrial products company's stock, valued at approximately $18,376,000. Bank of New York Mellon Corp owned approximately 0.70% of Worthington Enterprises as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Allworth Financial LP boosted its stake in Worthington Enterprises by 872.0% in the 4th quarter. Allworth Financial LP now owns 486 shares of the industrial products company's stock worth $25,000 after purchasing an additional 436 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in Worthington Enterprises during the first quarter worth $25,000. McMillan Office Inc. bought a new position in Worthington Enterprises in the fourth quarter valued at $31,000. Farther Finance Advisors LLC grew its position in Worthington Enterprises by 81.3% in the fourth quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 304 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Worthington Enterprises by 57.3% in the 1st quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company's stock valued at $38,000 after buying an additional 263 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on WOR. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Worthington Enterprises in a research report on Friday, July 17th. Canaccord Genuity Group cut their price objective on Worthington Enterprises from $69.00 to $67.00 and set a "buy" rating for the company in a report on Thursday, June 25th. Finally, Wall Street Zen cut shares of Worthington Enterprises from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Worthington Enterprises currently has an average rating of "Moderate Buy" and a consensus target price of $65.50.

Worthington Enterprises Stock Up 0.3%

Shares of WOR opened at $57.47 on Tuesday. Worthington Enterprises, Inc. has a 52 week low of $45.01 and a 52 week high of $67.21. The firm has a market cap of $2.81 billion, a P/E ratio of 18.30 and a beta of 1.28. The firm's 50-day simple moving average is $56.25 and its 200 day simple moving average is $55.23. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 2.37.

Worthington Enterprises (NYSE:WOR - Get Free Report) last issued its quarterly earnings data on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.07). The company had revenue of $371.46 million for the quarter, compared to analyst estimates of $386.49 million. Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.During the same quarter last year, the business earned $1.06 earnings per share. The company's revenue was up 16.9% on a year-over-year basis. On average, analysts forecast that Worthington Enterprises, Inc. will post 3.85 earnings per share for the current year.

Worthington Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.20 per share. This is a positive change from Worthington Enterprises's previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Worthington Enterprises's payout ratio is 24.20%.

Insiders Place Their Bets

In other news, major shareholder John P/Oh Mcconnell sold 17,625 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.04, for a total transaction of $934,830.00. Following the sale, the insider directly owned 1,335,648 shares of the company's stock, valued at approximately $70,842,769.92. This represents a 1.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is owned by company insiders.

Worthington Enterprises Company Profile

Worthington Enterprises NYSE: WOR is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company's portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.

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