John P/Oh Mcconnell Sells 41,704 Shares of Worthington Enterprises (NYSE:WOR) Stock

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John P/Oh Mcconnell sold 41,704 shares of Worthington Enterprises stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $55.85, for a total value of $2,329,168.40. Following the completion of the sale, the insider owned 1,335,648 shares in the company, valued at approximately $74,595,940.80. This trade represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares 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 stock was sold at an average price of $53.04, for a total value of $934,830.00.

Worthington Enterprises Price Performance

Shares of NYSE WOR opened at $55.67 on Thursday. The firm 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 one year low of $45.01 and a one year high of $67.80. The company’s fifty day moving average is $56.43 and its two-hundred day moving average is $54.82. 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 (NYSE:WOR) last announced its quarterly 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 company had revenue of $371.46 million during the quarter, compared to analysts’ expectations of $386.49 million. During the same quarter in the prior year, the business earned $1.06 EPS. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. Analysts forecast that Worthington Enterprises, Inc. will post 3.85 EPS for the current fiscal year.

Worthington Enterprises Increases Dividend

The company also recently declared 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. 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 dividend payout ratio is presently 24.20%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WOR. Canaccord Genuity Group reduced their target price on Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, June 25th. Wall Street Zen downgraded Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a report on Friday, July 17th. Two 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.com, Worthington Enterprises currently has an average rating of “Moderate Buy” and an average target price of $65.50.

Institutional Trading of Worthington Enterprises

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

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.