John P/Oh Mcconnell Sells 17,625 Shares of Worthington Enterprises (NYSE:WOR) Stock

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John P/Oh Mcconnell sold 17,625 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.04, for a total transaction of $934,830.00. Following the completion of the transaction, the insider owned 1,335,648 shares in the company, valued at approximately $70,842,769.92. This trade represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 transaction of $2,329,168.40.

Worthington Enterprises Stock Down 2.6%

WOR stock opened at $55.67 on Thursday. The company has a market capitalization of $2.74 billion, a P/E ratio of 17.73 and a beta of 1.29. Worthington Enterprises, Inc. has a 12 month low of $45.01 and a 12 month high of $67.80. The firm’s fifty day simple moving average is $56.43 and its 200-day simple moving average is $54.82. 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 (NYSE:WOR) last posted 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 net margin of 11.30% and a return on equity of 16.79%. The business had revenue of $371.46 million for the quarter, compared to analyst estimates of $386.49 million. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. As a group, equities research analysts forecast 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 a boost from Worthington Enterprises’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.4%. Worthington Enterprises’s payout ratio is presently 24.20%.

Institutional Investors Weigh In On Worthington Enterprises

A number of institutional investors have recently modified their holdings of WOR. Jupiter Asset Management Ltd. acquired a new position in Worthington Enterprises in the 4th quarter worth about $1,014,000. VELA Investment Management LLC increased its position in shares of Worthington Enterprises by 103.0% in the fourth quarter. VELA Investment Management LLC now owns 78,306 shares of the industrial products company’s stock valued at $4,038,000 after buying an additional 39,725 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Worthington Enterprises by 114.5% in the fourth quarter. SG Americas Securities LLC now owns 27,291 shares of the industrial products company’s stock valued at $1,407,000 after buying an additional 14,566 shares in the last quarter. M&T Bank Corp raised its stake in shares of Worthington Enterprises by 233.4% during the 4th quarter. M&T Bank Corp now owns 32,561 shares of the industrial products company’s stock worth $1,679,000 after buying an additional 22,795 shares during the period. Finally, Keybank National Association OH acquired a new position in shares of Worthington Enterprises during the 4th quarter worth approximately $10,749,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Canaccord Genuity Group dropped their target price on Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Wall Street Zen lowered Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Worthington Enterprises presently has a consensus rating of “Moderate Buy” and an average target price of $65.50.

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.