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 the firm’s stock in a transaction dated 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 transaction, the insider directly owned 1,335,648 shares in the company, valued at approximately $74,595,940.80. This represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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.

Worthington Enterprises Trading Up 3.3%

Shares of WOR traded up $1.86 during mid-day trading 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’s fifty day moving average price is $56.33 and its two-hundred day moving average price is $54.76. The company has a current ratio of 2.37, a quick ratio of 1.43 and a debt-to-equity ratio of 0.30. Worthington Enterprises, Inc. has a 52 week low of $45.01 and a 52 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 data 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). The company had revenue of $371.46 million for the quarter, compared to the consensus estimate of $386.49 million. Worthington Enterprises had a net margin of 11.30% and a return on equity of 16.79%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period last year, the business posted $1.06 earnings per share. On average, analysts predict that Worthington Enterprises, Inc. will post 3.85 earnings per share 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. Shareholders of record on Tuesday, September 15th will be issued a $0.20 dividend. 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 yield of 1.4%. Worthington Enterprises’s payout ratio is 24.20%.

Institutional Trading of Worthington Enterprises

Several large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in shares of Worthington Enterprises by 4.5% in the 1st quarter. Royal Bank of Canada now owns 12,967 shares of the industrial products company’s stock worth $650,000 after purchasing an additional 554 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Worthington Enterprises during the first quarter worth $533,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Worthington Enterprises by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,704 shares of the industrial products company’s stock valued at $937,000 after acquiring an additional 793 shares during the last quarter. Millennium Management LLC boosted its stake in Worthington Enterprises by 54.9% during the first quarter. Millennium Management LLC now owns 352,486 shares of the industrial products company’s stock worth $17,656,000 after buying an additional 124,867 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Worthington Enterprises by 3.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 222,461 shares of the industrial products company’s stock worth $11,143,000 after purchasing an additional 7,575 shares during the period. 51.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a research note on Friday, July 17th. Finally, Canaccord Genuity Group lowered their price target 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. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.