Worthington Enterprises (NYSE:WOR) Major Shareholder John P/Oh Mcconnell Sells 55,081 Shares of Stock

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John P/Oh Mcconnell sold 55,081 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 1,335,648 shares in the company, valued at $81,527,953.92. This trade represents 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 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 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 Stock Performance

Shares of NYSE:WOR opened at $57.21 on Wednesday. The business has a 50-day moving average of $56.41 and a two-hundred day moving average of $54.80. The firm has a market capitalization of $2.82 billion, a PE ratio of 18.22 and a beta of 1.29. 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 issued 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). Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The firm had revenue of $371.46 million for the quarter, compared to analysts’ expectations of $386.49 million. During the same quarter in the previous year, the firm posted $1.06 EPS. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. As a group, research analysts forecast that Worthington Enterprises, Inc. will post 3.85 earnings per share for the current year.

Worthington Enterprises Increases Dividend

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

Analyst Upgrades and Downgrades

WOR has been the topic of several research reports. Canaccord Genuity Group cut their price objective on 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 restated a “hold (c)” rating on shares of Worthington Enterprises in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WOR. Handelsbanken Fonder AB grew its stake in Worthington Enterprises by 4.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 9,100 shares of the industrial products company’s stock valued at $489,000 after purchasing an additional 400 shares in the last quarter. Central Pacific Bank Trust Division raised its position in shares of Worthington Enterprises by 16.5% in the 2nd quarter. Central Pacific Bank Trust Division now owns 3,482 shares of the industrial products company’s stock valued at $187,000 after purchasing an additional 493 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Worthington Enterprises by 57.3% in 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 in the last quarter. Amundi raised its position in shares of Worthington Enterprises by 56.7% in the 1st quarter. Amundi now owns 6,545 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 2,368 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Worthington Enterprises by 565.2% during the 1st quarter. Empowered Funds LLC now owns 6,579 shares of the industrial products company’s stock valued at $343,000 after buying an additional 5,590 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

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.