Worthington Enterprises (NYSE:WOR) Major Shareholder Sells $2,567,731.13 in Stock

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John McConnell sold 42,491 shares of Worthington Enterprises stock in a transaction on Monday, September 28th. The shares were sold at an average price of $60.43, for a total transaction of $2,567,731.13. Following the completion of the sale, the insider directly owned 1,335,648 shares of the company’s stock, valued at approximately $80,713,208.64. The trade was a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, September 24th, John McConnell sold 34,622 shares of Worthington Enterprises stock. The shares were sold at an average price of $59.76, for a total transaction of $2,069,010.72.
• On Wednesday, July 1st, John McConnell sold 17,625 shares of Worthington Enterprises stock. The shares were sold at an average price of $53.04, for a total transaction of $934,830.00.

Worthington Enterprises Stock Down 0.7%

Shares of NYSE WOR opened at $59.10 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.53. The company has a 50-day moving average price of $58.25 and a 200-day moving average price of $56.00. The stock has a market capitalization of $2.89 billion, a P/E ratio of 17.86 and a beta of 1.28. Worthington Enterprises, Inc. has a 1 year low of $45.01 and a 1 year high of $67.54.

Worthington Enterprises (NYSE:WOR) last posted its earnings results on Tuesday, September 22nd. The industrial products company reported $0.82 earnings per share 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 analyst estimates of $331.26 million. During the same quarter in the prior year, the business posted $0.74 EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. On average, equities research analysts forecast that Worthington Enterprises, Inc. will post 3.8 EPS 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. Shareholders of record on Tuesday, December 15th will be issued a dividend of $0.20 per share. 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, December 15th. Worthington Enterprises’s payout ratio is currently 24.17%.

Institutional Investors Weigh In On Worthington Enterprises

Several institutional investors have recently added to or reduced their stakes in the business. De Lisle Partners LLP bought a new stake in shares of Worthington Enterprises in the second quarter valued at approximately $4,748,000. Hsbc Holdings PLC bought a new position in Worthington Enterprises in the 2nd quarter worth approximately $1,115,000. Bank of America Corp DE purchased a new position in Worthington Enterprises in the 2nd quarter valued at approximately $10,939,000. Summit Global Investments purchased a new position in Worthington Enterprises in the 2nd quarter valued at approximately $969,000. Finally, BlackRock Inc. bought a new stake in Worthington Enterprises during the 2nd quarter valued at $283,372,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Worthington Enterprises Company Profile

Worthington Enterprises, Inc is a diversified manufacturer of consumer and building products headquartered in Columbus, Ohio. The company was established as part of the separation of Worthington Industries’ steel-processing business, which became Worthington Steel in 2023. Worthington Enterprises retained the company’s consumer-focused and building-products operations.

The company’s Consumer Products segment develops and sells products for the home, outdoor living, and related markets.