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

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John P/Oh Mcconnell sold 26,753 shares of Worthington Enterprises stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $59.15, for a total transaction of $1,582,439.95. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more 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 stock was 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 shares were sold at an average price of $55.85, for a total transaction of $2,329,168.40.

Worthington Enterprises Stock Down 2.6%

WOR stock opened at $55.67 on Thursday. Worthington Enterprises, Inc. has a one year low of $45.01 and a one year high of $67.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 2.37. The firm’s fifty day moving average is $56.43 and its 200 day moving average is $54.82. The firm has a market cap of $2.74 billion, a PE ratio of 17.73 and a beta of 1.29.

Worthington Enterprises (NYSE:WOR) last issued its quarterly earnings data on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The firm had revenue of $371.46 million during the quarter, compared to analyst estimates of $386.49 million. During the same quarter last year, the company posted $1.06 EPS. The company’s revenue was up 16.9% on a year-over-year basis. On average, research analysts forecast that Worthington Enterprises, Inc. will post 3.85 EPS for the current year.

Worthington Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued 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 a positive change from Worthington Enterprises’s previous quarterly dividend of $0.19. Worthington Enterprises’s payout ratio is currently 24.20%.

Analysts Set New Price Targets

Several analysts have commented on the company. Canaccord Genuity Group dropped their price objective on Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research note on Friday, July 17th. Finally, Wall Street Zen lowered Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.50.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB lifted its stake in Worthington Enterprises by 4.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 9,100 shares of the industrial products company’s stock valued at $489,000 after buying an additional 400 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in Worthington Enterprises by 16.5% during the 2nd quarter. Central Pacific Bank Trust Division now owns 3,482 shares of the industrial products company’s stock worth $187,000 after buying an additional 493 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Worthington Enterprises by 57.3% during the first quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 263 shares during the last quarter. Amundi raised its holdings in shares of Worthington Enterprises by 56.7% during the first quarter. Amundi now owns 6,545 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 2,368 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Worthington Enterprises by 565.2% in the first quarter. Empowered Funds LLC now owns 6,579 shares of the industrial products company’s stock valued at $343,000 after acquiring an additional 5,590 shares in the last quarter. 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.