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

Bank of New York Mellon Corp lessened its position in shares of Worthington Enterprises, Inc. (NYSE:WOR) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Worthington Enterprises by 23.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,081 shares of the industrial products company’s stock worth $124,000 after acquiring an additional 585 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Worthington Enterprises in the 4th quarter valued at approximately $478,000. Sequoia Financial Advisors LLC bought a new position in Worthington Enterprises in the 1st quarter valued at approximately $256,000. Amundi boosted its position in Worthington Enterprises by 170.3% in the fourth quarter. Amundi now owns 15,777 shares of the industrial products company’s stock valued at $625,000 after buying an additional 9,941 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Worthington Enterprises by 77.2% during the first 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 last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on WOR. The Goldman Sachs Group increased their price target on 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 increased their target price on Worthington Enterprises from $69.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.00.

Worthington Enterprises Price Performance

WOR stock opened at $62.18 on Friday. The company has a market capitalization of $3.10 billion, a P/E ratio of 32.55 and a beta of 1.19. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.62 and a current ratio of 3.48. Worthington Enterprises, Inc. has a 52-week low of $37.88 and a 52-week high of $70.91. The company has a fifty day moving average price of $60.92 and a 200-day moving average price of $50.06.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, June 24th. The industrial products company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.84 by $0.22. The business had revenue of $317.88 million for the quarter, compared to analysts’ expectations of $300.96 million. Worthington Enterprises had a return on equity of 16.66% and a net margin of 8.33%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share. As a group, equities analysts expect that Worthington Enterprises, Inc. will post 2.67 EPS for the current year.

Worthington Enterprises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.19 dividend. 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 yield of 1.22%. Worthington Enterprises’s payout ratio is presently 35.60%.

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.