Insider Selling: Worthington Enterprises (NYSE:WOR) Major Shareholder Sells $934,830.00 in Stock

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

Worthington Enterprises Price Performance

NYSE:WOR traded up $1.57 during trading hours on Tuesday, hitting $58.20. The company’s stock had a trading volume of 62,914 shares, compared to its average volume of 214,384. The business’s 50-day moving average is $56.33 and its two-hundred day moving average is $54.76. The company has a market capitalization of $2.87 billion, a PE ratio of 18.54 and a beta of 1.29. 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 52-week low of $45.01 and a 52-week high of $67.80.

Worthington Enterprises (NYSE:WOR) last issued its earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.07). Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The company had revenue of $371.46 million for the quarter, compared to analysts’ expectations of $386.49 million. During the same quarter in the previous year, the firm posted $1.06 earnings per share. Worthington Enterprises’s revenue for the quarter was up 16.9% on a year-over-year basis. As a group, research analysts anticipate that Worthington Enterprises, Inc. will post 3.85 EPS 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. Investors of record on Tuesday, September 15th will be issued a dividend of $0.20 per share. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.19. 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. Worthington Enterprises’s payout ratio is presently 24.20%.

Institutional Investors Weigh In On Worthington Enterprises

A number of large investors have recently added to or reduced their stakes in WOR. Geode Capital Management LLC raised its position in Worthington Enterprises by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 768,013 shares of the industrial products company’s stock worth $39,613,000 after acquiring an additional 4,745 shares during the last quarter. Arrowstreet Capital Limited Partnership grew 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 valued at $26,721,000 after purchasing an additional 193,319 shares during the last quarter. Windsor Advisory Group LLC increased its stake in shares of Worthington Enterprises by 23.5% during the 1st quarter. Windsor Advisory Group LLC now owns 459,633 shares of the industrial products company’s stock worth $23,965,000 after purchasing an additional 87,351 shares in the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Worthington Enterprises during the 1st quarter worth approximately $23,824,000. Finally, Fisher Asset Management LLC raised its position in shares of Worthington Enterprises by 27.1% during the 4th quarter. Fisher Asset Management LLC now owns 436,731 shares of the industrial products company’s stock worth $22,522,000 after purchasing an additional 93,140 shares during the last quarter. 51.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen cut shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Canaccord Genuity Group decreased their price target 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. Finally, Weiss Ratings restated 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 stock. According to data from MarketBeat, the company currently 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.