Insider Selling: Worthington Enterprises (NYSE:WOR) Major Shareholder Sells 42,491 Shares of Company Stock

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John McConnell sold 42,491 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $60.43, for a total transaction of $2,567,731.13. Following the completion of the sale, the insider owned 1,335,648 shares in the company, valued at $80,713,208.64. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

John P/Oh Mcconnell also recently made the following trade(s):

• On Thursday, September 24th, John McConnell sold 34,622 shares of Worthington Enterprises stock. The stock was sold at an average price of $59.76, for a total value of $2,069,010.72.
• On Wednesday, July 1st, John McConnell sold 17,625 shares of Worthington Enterprises stock. The shares were sold at an average price of $53.04, for a total transaction of $934,830.00.

Worthington Enterprises Stock Down 0.8%

NYSE WOR traded down $0.49 on Tuesday, reaching $60.38. The company had a trading volume of 25,715 shares, compared to its average volume of 245,578. The company’s fifty day moving average is $57.97 and its 200-day moving average is $55.75. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 18.24 and a beta of 1.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.53 and a current ratio of 2.67. Worthington Enterprises, Inc. has a 1-year low of $45.01 and a 1-year high of $67.54.

Worthington Enterprises (NYSE:WOR) last announced its quarterly earnings data on Tuesday, September 22nd. The industrial products company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The company had revenue of $343.89 million during the quarter, compared to the consensus estimate of $331.26 million. Worthington Enterprises had a net margin of 11.50% and a return on equity of 16.71%. The company’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. On average, research analysts forecast that Worthington Enterprises, Inc. will post 3.8 earnings per share for the current fiscal year.

Worthington Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Tuesday, December 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, December 15th. Worthington Enterprises’s dividend payout ratio is currently 24.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a report on Friday, July 17th. Canaccord Genuity Group boosted their price objective on shares of Worthington Enterprises from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Finally, Wall Street Zen downgraded Worthington Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

Institutional Trading of Worthington Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WOR. Security National Bank of SO Dak acquired a new position in Worthington Enterprises during the second quarter worth $177,000. WINTON GROUP Ltd bought a new stake in shares of Worthington Enterprises during the second quarter worth about $308,000. Nykredit A S bought a new stake in shares of Worthington Enterprises during the second quarter worth about $30,000. VELA Investment Management LLC raised its holdings in shares of Worthington Enterprises by 5.1% in the 2nd quarter. VELA Investment Management LLC now owns 222,561 shares of the industrial products company’s stock worth $11,965,000 after acquiring an additional 10,760 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Worthington Enterprises in the 2nd quarter valued at about $1,115,000. 51.59% of the stock is owned by institutional investors.

About Worthington Enterprises

Worthington Enterprises, Inc (NYSE: WOR) is a diversified manufacturer and branded products company focused primarily on consumer and building-product markets. The company develops, manufactures and markets products used by consumers, contractors and other professional customers.

Its consumer products activities include outdoor living, lawn and garden, tools and related products. Its portfolio has included brands such as Bernzomatic, Balloon Time, Mag-Torch and General Tools, although its product portfolio may change as the company manages its businesses and brands.

Worthington Enterprises also participates in the building-products industry, supplying products used in commercial and residential construction.