Worthington Enterprises (NYSE:WOR) Major Shareholder Sells $3,362,144.24 in Stock

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John P/Oh Mcconnell sold 55,081 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $61.04, for a total value of $3,362,144.24. Following the sale, the insider owned 1,335,648 shares in the company, valued at $81,527,953.92. The trade was a 3.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own at least 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 Wednesday, July 1st, John P/Oh Mcconnell sold 17,625 shares of Worthington Enterprises stock. The shares were sold at an average price of $53.04, for a total value of $934,830.00.
• On Friday, June 26th, John P/Oh Mcconnell sold 41,704 shares of Worthington Enterprises stock. The shares were sold at an average price of $55.85, for a total value of $2,329,168.40.

Worthington Enterprises Price Performance

Shares of WOR opened at $55.84 on Friday. The company has a market cap of $2.75 billion, a P/E ratio of 17.78 and a beta of 1.29. The stock has a fifty day moving average price of $56.45 and a 200 day moving average price of $54.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.37 and a quick ratio of 1.43. Worthington Enterprises, Inc. has a 12 month low of $45.01 and a 12 month high of $67.80.

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

Worthington Enterprises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.20 dividend. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.4%. Worthington Enterprises’s dividend payout ratio is 24.20%.

Analyst Ratings Changes

A number of research firms have issued reports on WOR. Wall Street Zen lowered shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a report on Friday, July 17th. Finally, Canaccord Genuity Group decreased 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. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.50.

Hedge Funds Weigh In On Worthington Enterprises

Large investors have recently bought and sold shares of the stock. Allworth Financial LP raised its position in shares of Worthington Enterprises by 872.0% during the 4th quarter. Allworth Financial LP now owns 486 shares of the industrial products company’s stock worth $25,000 after buying an additional 436 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Worthington Enterprises in the first quarter valued at approximately $25,000. McMillan Office Inc. acquired a new position in shares of Worthington Enterprises during the fourth quarter valued at approximately $31,000. Farther Finance Advisors LLC raised its holdings in Worthington Enterprises by 81.3% during the fourth quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 304 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in Worthington Enterprises by 57.3% in the first 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. Institutional investors and hedge funds own 51.59% of the company’s stock.

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.