Worthington Enterprises (NYSE:WOR) Major Shareholder John P/Oh Mcconnell Sells 41,704 Shares

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John P/Oh Mcconnell sold 41,704 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $55.85, for a total transaction of $2,329,168.40. Following the completion of the sale, the insider owned 1,335,648 shares of the company’s stock, valued at approximately $74,595,940.80. The trade was a 3.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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 transaction of $934,830.00.

Worthington Enterprises Price Performance

WOR stock opened at $57.21 on Wednesday. The firm has a market cap of $2.82 billion, a P/E ratio of 18.22 and a beta of 1.29. The firm’s fifty day moving average is $56.41 and its 200 day moving average is $54.80. Worthington Enterprises, Inc. has a 52 week low of $45.01 and a 52 week high of $67.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 2.37.

Worthington Enterprises (NYSE:WOR) last posted its quarterly 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). Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The business had revenue of $371.46 million during the quarter, compared to the consensus estimate of $386.49 million. During the same period in the prior year, the firm earned $1.06 earnings per share. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. Research analysts predict that Worthington Enterprises, Inc. will post 3.85 earnings per share for the current year.

Worthington Enterprises Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on WOR shares. Wall Street Zen cut Worthington Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research note on Friday, July 17th. Finally, Canaccord Genuity Group lowered their price objective on Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.

Hedge Funds Weigh In On Worthington Enterprises

Hedge funds have recently modified their holdings of the company. Allworth Financial LP raised its stake in shares of Worthington Enterprises by 872.0% during the fourth quarter. Allworth Financial LP now owns 486 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 436 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Worthington Enterprises in the first quarter worth about $25,000. McMillan Office Inc. purchased a new position in Worthington Enterprises during the 4th quarter valued at about $31,000. Farther Finance Advisors LLC increased its holdings in Worthington Enterprises by 81.3% during the 4th quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 304 shares during the period. Finally, Parallel Advisors LLC raised its position in Worthington Enterprises by 57.3% during the 1st quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 263 shares during the last quarter. Hedge funds and other institutional investors 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.