John P/Oh Mcconnell Sells 55,081 Shares of Worthington Enterprises (NYSE:WOR) Stock

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John P/Oh Mcconnell sold 55,081 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $61.04, for a total value of $3,362,144.24. Following the completion of the transaction, the insider owned 1,335,648 shares of the company’s stock, valued at approximately $81,527,953.92. This represents a 3.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 stock was sold at an average price of $55.85, for a total transaction of $2,329,168.40.

Worthington Enterprises Price Performance

NYSE WOR traded up $1.86 during trading hours on Tuesday, reaching $58.49. The company’s stock had a trading volume of 41,996 shares, compared to its average volume of 214,258. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 2.37. The company’s 50-day moving average is $56.33 and its two-hundred day moving average is $54.76. Worthington Enterprises, Inc. has a fifty-two week low of $45.01 and a fifty-two week high of $67.80. The stock has a market cap of $2.88 billion, a PE ratio of 18.63 and a beta of 1.29.

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 the consensus estimate of $1.04 by ($0.07). The business 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%. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the company earned $1.06 EPS. Analysts forecast that Worthington Enterprises, Inc. will post 3.85 EPS for the current year.

Worthington Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 15th. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.19. Worthington Enterprises’s dividend payout ratio is currently 24.20%.

Institutional Investors Weigh In On Worthington Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in WOR. Fort Washington Investment Advisors Inc. OH purchased a new position in Worthington Enterprises during the first quarter worth about $23,824,000. Windsor Advisory Group LLC acquired a new position in shares of Worthington Enterprises during the 3rd quarter valued at about $16,319,000. Keybank National Association OH purchased a new position in shares of Worthington Enterprises during the 4th quarter worth about $10,749,000. LSV Asset Management purchased a new position in shares of Worthington Enterprises during the 4th quarter worth about $10,684,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of 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 worth $26,721,000 after acquiring an additional 193,319 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on WOR shares. Wall Street Zen downgraded Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Canaccord Genuity Group cut their target price on shares of Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Worthington Enterprises in a report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to 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.