Worthington Enterprises (NYSE:WOR) Stock: Insider John P/Oh Mcconnell Sells 34,622 Shares

Worthington Enterprises, Inc. (NYSE:WOR) major shareholder John McConnell sold 34,622 shares of the business’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $59.76, for a total transaction of $2,069,010.72. Following the completion of the sale, the insider owned 1,335,648 shares in the company, valued at $79,818,324.48. This represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 Price Performance

NYSE:WOR traded down $1.42 during mid-day trading on Monday, hitting $60.82. 24,593 shares of the company’s stock traded hands, compared to its average volume of 244,768. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.53 and a current ratio of 2.67. The company has a market cap of $2.98 billion, a PE ratio of 18.49 and a beta of 1.30. The firm’s 50 day simple moving average is $57.84 and its 200 day simple moving average is $55.67. Worthington Enterprises, Inc. has a 1 year low of $45.01 and a 1 year high of $67.54.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results on Tuesday, September 22nd. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.75 by $0.07. Worthington Enterprises had a net margin of 11.50% and a return on equity of 16.71%. The business had revenue of $343.89 million for the quarter, compared to analyst estimates of $331.26 million. During the same period in the prior year, the business earned $0.74 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. Sell-side analysts expect that Worthington Enterprises, Inc. will post 3.8 EPS for the current year.

Worthington Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, December 15th will be issued 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 24.17%.

Institutional Investors Weigh In On Worthington Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in WOR. Jupiter Asset Management Ltd. purchased a new stake in Worthington Enterprises in the fourth quarter valued at approximately $1,014,000. De Lisle Partners LLP purchased a new position in shares of Worthington Enterprises in the 2nd quarter worth $4,748,000. Summit Global Investments acquired a new position in Worthington Enterprises in the second quarter valued at $969,000. Hsbc Holdings PLC purchased a new stake in Worthington Enterprises during the second quarter valued at about $1,115,000. Finally, BlackRock Inc. purchased a new stake in Worthington Enterprises during the second quarter valued at about $283,372,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

Worthington Enterprises Company Profile

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.