Key Points
- Major shareholder John McConnell sold 34,622 Worthington Enterprises shares at an average price of $59.76, generating approximately $2.07 million. His remaining stake totals 1.34 million shares, valued at about $79.8 million.
- Worthington Enterprises reported quarterly EPS of $0.82, beating estimates of $0.75, while revenue rose 13.2% year over year to $343.9 million.
- The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 1.3% yield. Analysts maintain a “Moderate Buy” consensus with a $75 price target.
Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report) major shareholder John McConnell sold 34,622 shares of the company's stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $59.76, for a total value of $2,069,010.72. Following the sale, the insider owned 1,335,648 shares in the company, valued at approximately $79,818,324.48. The trade was a 2.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 Wednesday, July 1st, John McConnell sold 17,625 shares of Worthington Enterprises stock. The stock was sold at an average price of $53.04, for a total value of $934,830.00.
Worthington Enterprises Trading Down 2.5%
Shares of WOR stock opened at $60.71 on Tuesday. The company has a market cap of $2.97 billion, a P/E ratio of 18.34 and a beta of 1.30. The stock has a 50 day simple moving average of $57.97 and a two-hundred day simple moving average of $55.75. 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 fifty-two week low of $45.01 and a fifty-two week high of $67.54.
Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its quarterly earnings results on Tuesday, September 22nd. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.07. The firm had revenue of $343.89 million for the quarter, compared to analysts' expectations of $331.26 million. Worthington Enterprises had a return on equity of 16.71% and a net margin of 11.50%.The company's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 EPS. Research analysts forecast that Worthington Enterprises, Inc. will post 3.8 earnings per share for the current year.
Worthington Enterprises Announces Dividend
The business also recently announced 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 dividend yield of 1.3%. The ex-dividend date is Tuesday, December 15th. Worthington Enterprises's payout ratio is presently 24.17%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Worthington Enterprises in a report on Friday, July 17th. Wall Street Zen lowered shares of Worthington Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Finally, Canaccord Genuity Group increased their price objective on shares of Worthington Enterprises from $67.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, September 24th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $75.00.
Read Our Latest Report on WOR
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Worthington Enterprises during the second quarter worth $283,372,000. Windsor Advisory Group LLC grew its stake in Worthington Enterprises by 23.5% in the 1st quarter. Windsor Advisory Group LLC now owns 459,633 shares of the industrial products company's stock valued at $23,965,000 after purchasing an additional 87,351 shares during the period. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Worthington Enterprises during the 1st quarter valued at $23,824,000. Bank of New York Mellon Corp bought a new stake in shares of Worthington Enterprises during the 2nd quarter worth $18,376,000. Finally, VELA Investment Management LLC boosted its holdings in shares of Worthington Enterprises by 5.4% in the 2nd quarter. VELA Investment Management LLC now owns 228,927 shares of the industrial products company's stock worth $12,307,000 after buying an additional 11,818 shares during the last quarter. 51.59% of the stock is owned by institutional investors.
Worthington Enterprises Company Profile
(
Get Free Report)
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.
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