Worthington Enterprises (NYSE:WOR) Major Shareholder Sells $1,582,439.95 in Stock

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John P/Oh Mcconnell sold 26,753 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $59.15, for a total transaction of $1,582,439.95. Following the transaction, the insider directly owned 1,335,648 shares in the company, valued at approximately $79,003,579.20. This represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases 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 stock was sold at an average price of $53.04, for a total transaction 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 Worthington Enterprises stock opened at $55.84 on Friday. The business has a 50-day simple moving average of $56.45 and a 200 day simple moving average of $54.83. Worthington Enterprises, Inc. has a one year low of $45.01 and a one year high of $67.80. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.37 and a quick ratio of 1.43. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 17.78 and a beta of 1.29.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share (EPS) 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 firm had revenue of $371.46 million during the quarter, compared to the consensus estimate of $386.49 million. During the same quarter in the previous year, the company posted $1.06 EPS. The firm’s revenue was up 16.9% on a year-over-year basis. On average, research analysts anticipate that Worthington Enterprises, Inc. will post 3.85 earnings per share for the current fiscal year.

Worthington Enterprises Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Fort Washington Investment Advisors Inc. OH bought a new stake in Worthington Enterprises during the first quarter worth $23,824,000. Windsor Advisory Group LLC bought a new stake in shares of Worthington Enterprises in the 3rd quarter worth $16,319,000. Keybank National Association OH bought a new stake in shares of Worthington Enterprises in the 4th quarter worth $10,749,000. LSV Asset Management purchased a new stake in shares of Worthington Enterprises in the fourth quarter valued at about $10,684,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Worthington Enterprises by 67.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 481,541 shares of the industrial products company’s stock valued at $26,721,000 after purchasing an additional 193,319 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Wall Street Zen lowered shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Worthington Enterprises in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.