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 that occurred 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 sale, the insider directly owned 1,335,648 shares of the company’s stock, valued at approximately $79,003,579.20. This trade represents a 1.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Up 3.3%

Shares of Worthington Enterprises stock traded up $1.86 during trading on Tuesday, reaching $58.49. 41,996 shares of the company traded hands, compared to its average volume of 214,258. The firm has a market capitalization of $2.88 billion, a PE ratio of 18.63 and a beta of 1.29. Worthington Enterprises, Inc. has a 1-year low of $45.01 and a 1-year high of $67.80. The company has a 50 day moving average price of $56.33 and a 200-day moving average price of $54.76. 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 quarterly 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 company had revenue of $371.46 million during the quarter, compared to analyst estimates of $386.49 million. Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The company’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 business posted $1.06 earnings per share. As a group, equities research analysts expect that Worthington Enterprises, Inc. will post 3.85 earnings per share for the current fiscal 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 given a dividend of $0.20 per share. 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 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

A number of large investors have recently modified their holdings of WOR. Allworth Financial LP boosted its position in shares of Worthington Enterprises by 872.0% during the fourth quarter. Allworth Financial LP now owns 486 shares of the industrial products company’s stock valued at $25,000 after buying an additional 436 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Worthington Enterprises during the 1st quarter worth $25,000. McMillan Office Inc. bought a new stake in shares of Worthington Enterprises in the 4th quarter worth $31,000. Farther Finance Advisors LLC grew its stake in shares of Worthington Enterprises by 81.3% in the 4th quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 304 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Worthington Enterprises by 57.3% in the first 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 during the last quarter. Institutional investors own 51.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WOR. Canaccord Genuity Group decreased their target price 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. Wall Street Zen lowered Worthington Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Weiss Ratings reissued 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Worthington Enterprises has an average rating of “Moderate Buy” and a consensus 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.