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 stock in a transaction that occurred 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 transaction, the insider directly owned 1,335,648 shares of the company’s stock, valued at $81,527,953.92. This trade represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more 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 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 Price Performance

Shares of NYSE WOR opened at $55.67 on Thursday. The company has a quick ratio of 1.43, a current ratio of 2.37 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.74 billion, a PE ratio of 17.73 and a beta of 1.29. Worthington Enterprises, Inc. has a twelve month low of $45.01 and a twelve month high of $67.80. The business’s 50 day moving average price is $56.43 and its two-hundred day moving average price is $54.82.

Worthington Enterprises (NYSE:WOR) last posted its quarterly earnings results 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 net margin of 11.30% and a return on equity of 16.79%. The business had revenue of $371.46 million during the quarter, compared to the consensus estimate of $386.49 million. During the same quarter last year, the company posted $1.06 EPS. The firm’s revenue was up 16.9% on a year-over-year basis. On average, analysts predict that Worthington Enterprises, Inc. will post 3.85 EPS for the current year.

Worthington Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $0.20 dividend. 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. This represents a $0.80 annualized dividend and a dividend yield of 1.4%. Worthington Enterprises’s dividend payout ratio (DPR) is currently 24.20%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Allworth Financial LP increased its stake in shares of Worthington Enterprises by 872.0% in the fourth quarter. Allworth Financial LP now owns 486 shares of the industrial products company’s stock valued at $25,000 after buying an additional 436 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of Worthington Enterprises in the 1st quarter valued at about $25,000. McMillan Office Inc. acquired a new position in shares of Worthington Enterprises in the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Worthington Enterprises by 693.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 619 shares of the industrial products company’s stock worth $39,000 after buying an additional 541 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Worthington Enterprises by 81.3% during the fourth quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 304 shares in the last quarter. 51.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WOR has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Worthington Enterprises in a research report on Friday, July 17th. Wall Street Zen lowered shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, 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. Two equities research 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, Worthington Enterprises currently has a consensus rating of “Moderate Buy” and an average price target 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.