Worthington Enterprises (NYSE:WOR) Major Shareholder Sells $2,069,010.72 in Stock

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John McConnell sold 34,622 shares of the firm’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $59.76, for a total value of $2,069,010.72. Following the sale, the insider directly owned 1,335,648 shares of the company’s stock, valued at approximately $79,818,324.48. This represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 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 Monday, September 28th, John McConnell sold 42,491 shares of Worthington Enterprises stock. The stock was sold at an average price of $60.43, for a total transaction of $2,567,731.13.
• On Wednesday, July 1st, John 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 Trading Down 0.5%

NYSE:WOR opened at $59.62 on Thursday. Worthington Enterprises, Inc. has a 12 month low of $45.01 and a 12 month high of $67.54. The company has a current ratio of 2.67, a quick ratio of 1.53 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average is $58.17 and its 200 day moving average is $55.91. The stock has a market capitalization of $2.92 billion, a PE ratio of 18.01 and a beta of 1.30.

Worthington Enterprises (NYSE:WOR) last released its earnings results on Tuesday, September 22nd. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. The business had revenue of $343.89 million during the quarter, compared to the consensus estimate of $331.26 million. Worthington Enterprises had a return on equity of 16.71% and a net margin of 11.50%.The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the business posted $0.74 earnings per share. Sell-side analysts expect that Worthington Enterprises, Inc. will post 3.8 earnings per share for the current year.

Worthington Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Tuesday, December 15th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.80 annualized dividend and a yield of 1.3%. Worthington Enterprises’s dividend payout ratio (DPR) is currently 24.17%.

Institutional Investors Weigh In On Worthington Enterprises

Several institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its holdings in Worthington Enterprises by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 6,114 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 189 shares during the period. Parallel Advisors LLC lifted its stake in Worthington Enterprises by 57.3% in the first quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 263 shares during the period. Sei Investments Co. increased its position in Worthington Enterprises by 6.1% during the 1st quarter. Sei Investments Co. now owns 4,601 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 264 shares during the period. Handelsbanken Fonder AB increased its position 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 during the period. Finally, Cassaday & Co Wealth Management LLC bought a new position in Worthington Enterprises in the 1st quarter worth $25,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WOR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a report on Friday, July 17th. Wall Street Zen downgraded Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Canaccord Genuity Group lifted their price target on Worthington Enterprises from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.00.

About Worthington Enterprises

Worthington Enterprises, Inc (NYSE: WOR) is a diversified manufacturer and branded products company focused primarily on consumer and building-product markets. The company develops, manufactures and markets products used by consumers, contractors and other professional customers.

Its consumer products activities include outdoor living, lawn and garden, tools and related products. Its portfolio has included brands such as Bernzomatic, Balloon Time, Mag-Torch and General Tools, although its product portfolio may change as the company manages its businesses and brands.

Worthington Enterprises also participates in the building-products industry, supplying products used in commercial and residential construction.