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

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John P/Oh Mcconnell sold 55,081 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $61.04, for a total transaction of $3,362,144.24. Following the completion of the transaction, the insider owned 1,335,648 shares of the company’s stock, valued at $81,527,953.92. This represents a 3.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 Stock Performance

WOR traded up $1.86 during trading on Tuesday, hitting $58.49. 41,996 shares of the stock were exchanged, compared to its average volume of 214,258. 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, Inc. has a 1-year low of $45.01 and a 1-year high of $67.80. The stock has a fifty day moving average price of $56.33 and a two-hundred day moving average price of $54.76. The firm has a market capitalization of $2.88 billion, a P/E ratio of 18.63 and a beta of 1.29.

Worthington Enterprises (NYSE:WOR) last announced its earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The business 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 business’s revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.06 earnings per share. As a group, sell-side 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. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.20 per share. 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 positive change from Worthington Enterprises’s previous quarterly dividend of $0.19. Worthington Enterprises’s payout ratio is 24.20%.

Analyst Ratings Changes

Several research firms have recently commented on WOR. Wall Street Zen cut Worthington Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Canaccord Genuity Group reduced their target price on shares of Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Finally, Weiss Ratings reaffirmed 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 given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position in shares of Worthington Enterprises by 872.0% during the 4th 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 period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Worthington Enterprises in the 1st quarter worth approximately $25,000. McMillan Office Inc. acquired a new stake in shares of Worthington Enterprises in the 4th quarter worth approximately $31,000. Farther Finance Advisors LLC increased its stake in Worthington Enterprises by 81.3% in 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 in the last quarter. Finally, Parallel Advisors LLC increased its stake in 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. 51.59% of the stock is currently 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.