Worthington Enterprises (NYSE:WOR) Major Shareholder John P/Oh Mcconnell Sells 26,753 Shares of Stock

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John P/Oh Mcconnell sold 26,753 shares of Worthington Enterprises stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $59.15, for a total transaction of $1,582,439.95. Following the completion of the transaction, the insider directly owned 1,335,648 shares in the company, valued at $79,003,579.20. This trade represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, June 26th, John P/Oh Mcconnell sold 41,704 shares of Worthington Enterprises stock. The stock was sold at an average price of $55.85, for a total value of $2,329,168.40.

Worthington Enterprises Price Performance

NYSE WOR traded up $1.86 during trading on Tuesday, hitting $58.49. 41,996 shares of the company’s stock were exchanged, compared to its average volume of 214,258. The company has a market cap of $2.88 billion, a PE ratio of 18.63 and a beta of 1.29. The company has a current ratio of 2.37, a quick ratio of 1.43 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average price is $56.33 and its two-hundred day moving average price is $54.76. Worthington Enterprises, Inc. has a fifty-two week low of $45.01 and a fifty-two week 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 for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The company had revenue of $371.46 million for the quarter, compared to the consensus estimate of $386.49 million. Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 EPS. Research analysts expect that Worthington Enterprises, Inc. will post 3.85 EPS for the current year.

Worthington Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.20 dividend. 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. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.19. Worthington Enterprises’s payout ratio is currently 24.20%.

Hedge Funds Weigh In On Worthington Enterprises

A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in Worthington Enterprises by 4.5% in the first quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock valued at $650,000 after buying an additional 554 shares during the period. AQR Capital Management LLC bought a new position in shares of Worthington Enterprises in the 1st quarter worth about $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Worthington Enterprises by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company’s stock worth $937,000 after acquiring an additional 793 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Worthington Enterprises by 54.9% in the 1st quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock valued at $17,656,000 after purchasing an additional 124,867 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Worthington Enterprises by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company’s stock valued at $11,143,000 after purchasing an additional 7,575 shares during the period. Institutional investors own 51.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Canaccord Genuity Group cut their price target on Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, June 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a report on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.50.

About Worthington Enterprises

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.