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 Worthington Enterprises stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.04, for a total transaction of $934,830.00. Following the completion of the sale, the insider owned 1,335,648 shares in the company, valued at approximately $70,842,769.92. This trade represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.

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 transaction of $2,329,168.40.

Worthington Enterprises Trading Up 0.5%

Shares of Worthington Enterprises stock opened at $55.84 on Friday. The firm has a market capitalization of $2.75 billion, a PE ratio of 17.78 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 firm’s 50-day moving average price is $56.45 and its 200 day moving average price is $54.83. 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 (NYSE:WOR) last posted its quarterly earnings data 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 firm had revenue of $371.46 million for the quarter, compared to analysts’ expectations of $386.49 million. During the same quarter last year, the firm posted $1.06 earnings per share. Worthington Enterprises’s quarterly revenue was up 16.9% on a year-over-year basis. On average, sell-side analysts predict that Worthington Enterprises, Inc. will post 3.85 EPS 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. Stockholders of record on Tuesday, September 15th will be paid a $0.20 dividend. This is a boost from Worthington Enterprises’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Worthington Enterprises’s dividend payout ratio is presently 24.20%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Worthington Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC raised its stake in Worthington Enterprises by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 6,114 shares of the industrial products company’s stock worth $315,000 after purchasing an additional 189 shares during the period. State of Alaska Department of Revenue boosted its holdings in Worthington Enterprises by 1.3% in the 4th quarter. State of Alaska Department of Revenue now owns 19,385 shares of the industrial products company’s stock valued at $999,000 after purchasing an additional 240 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Worthington Enterprises by 57.3% in the 1st quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company’s stock valued at $38,000 after buying an additional 263 shares during the period. Sei Investments Co. grew its stake in shares of Worthington Enterprises by 6.1% in the 1st quarter. Sei Investments Co. now owns 4,601 shares of the industrial products company’s stock valued at $240,000 after buying an additional 264 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Worthington Enterprises by 81.3% during the 4th quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock worth $35,000 after buying an additional 304 shares during the last quarter. 51.59% of the stock is owned by institutional investors and hedge funds.

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.