Key Points
- Major shareholder John McConnell sold 42,491 Worthington Enterprises shares at an average price of $60.43, generating $2.57 million and reducing his stake by 3.08% to 1.34 million shares.
- Worthington Enterprises exceeded quarterly expectations, reporting $0.82 in EPS versus a $0.75 estimate and $343.89 million in revenue, up 13.2% year over year.
- The company declared a quarterly dividend of $0.20 per share, or $0.80 annualized, implying a 1.3% yield; analysts maintain a “Moderate Buy” consensus with a $75 average price target.
Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report) major shareholder John McConnell sold 42,491 shares of the firm's stock in a transaction on Monday, September 28th. The shares were sold at an average price of $60.43, for a total value of $2,567,731.13. Following the transaction, the insider owned 1,335,648 shares in the company, valued at approximately $80,713,208.64. This represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own more than 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 Thursday, September 24th, John McConnell sold 34,622 shares of Worthington Enterprises stock. The stock was sold at an average price of $59.76, for a total transaction of $2,069,010.72.
- 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 transaction of $934,830.00.
Worthington Enterprises Trading Down 1.5%
NYSE WOR opened at $59.95 on Wednesday. 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 capitalization of $2.93 billion, a price-to-earnings ratio of 18.11 and a beta of 1.30. The company's 50-day simple moving average is $58.07 and its two-hundred day simple moving average is $55.82. Worthington Enterprises, Inc. has a one year low of $45.01 and a one year 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 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 during the quarter, compared to analyst estimates of $331.26 million. During the same quarter in the previous year, the business posted $0.74 EPS. The company's quarterly revenue was up 13.2% compared to the same quarter last year. Equities analysts forecast that Worthington Enterprises, Inc. will post 3.8 EPS for the current fiscal year.
Worthington Enterprises Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Tuesday, December 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, December 15th. Worthington Enterprises's dividend payout ratio (DPR) is presently 24.17%.
Analysts Set New Price Targets
A number of analysts have weighed in on the company. Canaccord Genuity Group upped their target price on Worthington Enterprises from $67.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, September 24th. Wall Street Zen downgraded Worthington Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Worthington Enterprises in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.00.
Get Our Latest Report on WOR
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. De Lisle Partners LLP bought a new position in shares of Worthington Enterprises during the 2nd quarter worth approximately $4,748,000. Hsbc Holdings PLC acquired a new stake in Worthington Enterprises in the second quarter valued at approximately $1,115,000. Summit Global Investments purchased a new position in Worthington Enterprises in the second quarter worth $969,000. BlackRock Inc. purchased a new position in Worthington Enterprises in the second quarter worth $283,372,000. Finally, Legal & General Group Plc purchased a new position in Worthington Enterprises in the second quarter worth $3,956,000. Hedge funds and other institutional investors own 51.59% of the company's stock.
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
