Worthington Enterprises (NYSE:WOR) Stock: Insider John P/Oh Mcconnell Sells 34,622 Shares

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John McConnell sold 34,622 shares of the firm’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $59.76, for a total value of $2,069,010.72. Following the transaction, the insider directly owned 1,335,648 shares in the company, valued at $79,818,324.48. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

John P/Oh Mcconnell also recently made the following trade(s):

• On Monday, September 28th, John McConnell sold 42,491 shares of Worthington Enterprises stock. The shares were sold at an average price of $60.43, for a total transaction of $2,567,731.13.
• On Wednesday, July 1st, John McConnell sold 17,625 shares of Worthington Enterprises stock. The stock was sold at an average price of $53.04, for a total transaction of $934,830.00.

Worthington Enterprises Stock Performance

Shares of WOR opened at $59.95 on Wednesday. The firm has a 50-day moving average price of $58.07 and a 200 day moving average price of $55.82. The firm has a market capitalization of $2.93 billion, a PE ratio of 18.11 and a beta of 1.30. The company has a quick ratio of 1.53, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Worthington Enterprises, Inc. has a 52-week low of $45.01 and a 52-week high of $67.54.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results on Tuesday, September 22nd. The industrial products company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Worthington Enterprises had a net margin of 11.50% and a return on equity of 16.71%. The company had revenue of $343.89 million for the quarter, compared to the consensus estimate of $331.26 million. During the same period in the previous year, the firm earned $0.74 EPS. Worthington Enterprises’s revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts anticipate that Worthington Enterprises, Inc. will post 3.8 earnings per share for the current fiscal year.

Worthington Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Tuesday, December 15th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, December 15th. Worthington Enterprises’s dividend payout ratio (DPR) is currently 24.17%.

Hedge Funds Weigh In On Worthington Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC purchased a new stake in Worthington Enterprises during the first quarter valued at about $25,000. Nykredit A S acquired a new stake in shares of Worthington Enterprises during the second quarter valued at approximately $30,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Worthington Enterprises in the 2nd quarter valued at approximately $35,000. Parallel Advisors LLC boosted 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 worth $38,000 after purchasing an additional 263 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in Worthington Enterprises by 823.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 757 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 675 shares in the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Canaccord Genuity Group lifted their price target on Worthington Enterprises from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Worthington Enterprises currently has an average rating of “Moderate Buy” and an average price target of $75.00.

About Worthington Enterprises

Worthington Enterprises, Inc (NYSE: WOR) is a diversified manufacturer and branded products company focused primarily on consumer and building-product markets. The company develops, manufactures and markets products used by consumers, contractors and other professional customers.

Its consumer products activities include outdoor living, lawn and garden, tools and related products. Its portfolio has included brands such as Bernzomatic, Balloon Time, Mag-Torch and General Tools, although its product portfolio may change as the company manages its businesses and brands.

Worthington Enterprises also participates in the building-products industry, supplying products used in commercial and residential construction.