Worthington Enterprises (NYSE:WOR) Major Shareholder John P/Oh Mcconnell Sells 26,753 Shares

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John P/Oh Mcconnell sold 26,753 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $59.15, for a total value of $1,582,439.95. Following the completion of the sale, the insider directly owned 1,335,648 shares in the company, valued at approximately $79,003,579.20. The trade was a 1.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 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 transaction of $934,830.00.
• On Friday, June 26th, John P/Oh Mcconnell sold 41,704 shares of Worthington Enterprises stock. The stock was sold at an average price of $55.85, for a total transaction of $2,329,168.40.

Worthington Enterprises Price Performance

WOR opened at $57.21 on Wednesday. The company’s 50 day simple moving average is $56.41 and its 200 day simple moving average is $54.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 2.37. Worthington Enterprises, Inc. has a 1 year low of $45.01 and a 1 year high of $67.80. The stock has a market capitalization of $2.82 billion, a PE ratio of 18.22 and a beta of 1.29.

Worthington Enterprises (NYSE:WOR) last released 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). The company had revenue of $371.46 million during the quarter, compared to analysts’ expectations of $386.49 million. Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. Worthington Enterprises’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 earnings per share. As a group, sell-side analysts expect that Worthington Enterprises, Inc. will post 3.85 EPS 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 paid a dividend of $0.20 per share. 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%. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.19. Worthington Enterprises’s dividend payout ratio is presently 24.20%.

Institutional Investors Weigh In On Worthington Enterprises

Institutional investors have recently bought and sold shares of the business. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Worthington Enterprises in the first quarter worth about $23,824,000. Windsor Advisory Group LLC acquired a new position in Worthington Enterprises during the 3rd quarter worth approximately $16,319,000. Keybank National Association OH purchased a new position in Worthington Enterprises in the 4th quarter worth approximately $10,749,000. LSV Asset Management purchased a new position in Worthington Enterprises in the 4th quarter worth approximately $10,684,000. Finally, Arrowstreet Capital Limited Partnership grew its position in 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 acquiring an additional 193,319 shares in the last quarter. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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