John P/Oh Mcconnell Sells 17,625 Shares of Worthington Enterprises (NYSE:WOR) Stock

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John P/Oh Mcconnell sold 17,625 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.04, for a total value of $934,830.00. Following the completion of the transaction, the insider directly owned 1,335,648 shares of the company’s stock, valued at approximately $70,842,769.92. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 traded up $1.57 during trading hours on Tuesday, reaching $58.20. 62,914 shares of the company traded hands, compared to its average volume of 214,384. The stock has a market capitalization of $2.87 billion, a PE ratio of 18.54 and a beta of 1.29. The stock has a fifty day simple moving average of $56.33 and a 200 day simple moving average of $54.76. Worthington Enterprises, Inc. has a fifty-two week low of $45.01 and a fifty-two week high of $67.80. The company has a quick ratio of 1.43, a current ratio of 2.37 and a debt-to-equity ratio of 0.30.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.07). The firm had revenue of $371.46 million during the quarter, compared to analyst estimates of $386.49 million. Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The company’s revenue for the quarter 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. As a group, research analysts predict that Worthington Enterprises, Inc. will post 3.85 EPS for the current fiscal year.

Worthington Enterprises Increases Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on WOR shares. Canaccord Genuity Group decreased their target price on shares of Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. 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 note on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $65.50.

Institutional Investors Weigh In On Worthington Enterprises

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its stake in Worthington Enterprises by 4.5% during the first quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock worth $650,000 after purchasing an additional 554 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Worthington Enterprises during the 1st quarter valued at $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Worthington Enterprises by 4.4% during 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 buying an additional 793 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Worthington Enterprises by 54.9% during the 1st quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock worth $17,656,000 after buying an additional 124,867 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position 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 worth $11,143,000 after buying an additional 7,575 shares during the period. 51.59% of the stock is owned by institutional investors and hedge funds.

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.