Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report) major shareholder John P/Oh Mcconnell sold 17,625 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.04, for a total value of $934,830.00. Following the sale, the insider owned 1,335,648 shares in the company, valued at $70,842,769.92. The trade was a 1.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major 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 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 1.0%
WOR opened at $57.21 on Wednesday. Worthington Enterprises, Inc. has a 1-year low of $45.01 and a 1-year high of $67.80. The stock has a market capitalization of $2.82 billion, a PE ratio of 18.22 and a beta of 1.29. The company has a current ratio of 2.37, a quick ratio of 1.43 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $56.41 and a two-hundred day moving average price of $54.80.
Worthington Enterprises (NYSE:WOR - Get Free Report) last announced its earnings results 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). Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The company had revenue of $371.46 million for the quarter, compared to analyst estimates of $386.49 million. During the same quarter in the previous year, the company posted $1.06 earnings per share. Worthington Enterprises's revenue for the quarter was up 16.9% on a year-over-year basis. As a group, equities analysts anticipate that Worthington Enterprises, Inc. will post 3.85 earnings per share for the current fiscal year.
Worthington Enterprises Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a $0.20 dividend. This is a boost from Worthington Enterprises's previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, September 15th. This represents a $0.80 annualized dividend and a yield of 1.4%. Worthington Enterprises's dividend payout ratio is presently 24.20%.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of WOR. Handelsbanken Fonder AB grew its position in shares of Worthington Enterprises by 4.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 9,100 shares of the industrial products company's stock worth $489,000 after buying an additional 400 shares during the period. Central Pacific Bank Trust Division lifted its holdings in Worthington Enterprises by 16.5% in the second quarter. Central Pacific Bank Trust Division now owns 3,482 shares of the industrial products company's stock valued at $187,000 after buying an additional 493 shares during the period. Parallel Advisors LLC lifted its holdings in Worthington Enterprises by 57.3% in the first 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. Amundi boosted its stake in Worthington Enterprises by 56.7% in the first quarter. Amundi now owns 6,545 shares of the industrial products company's stock valued at $341,000 after acquiring an additional 2,368 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in Worthington Enterprises by 565.2% in the first quarter. Empowered Funds LLC now owns 6,579 shares of the industrial products company's stock valued at $343,000 after acquiring an additional 5,590 shares during the last quarter. Institutional investors own 51.59% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. Canaccord Genuity Group reduced their price objective on Worthington Enterprises from $69.00 to $67.00 and set a "buy" rating on the stock in a report on Thursday, June 25th. Wall Street Zen cut Worthington Enterprises from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Worthington Enterprises in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Worthington Enterprises currently has a consensus rating of "Moderate Buy" and an average price target of $65.50.
Get Our Latest Analysis on Worthington Enterprises
Worthington Enterprises Company Profile
(
Get Free Report)
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.
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