Insider Selling: Worthington Enterprises (NYSE:WOR) Major Shareholder Sells $2,567,731.13 in Stock

Key Points

• Major shareholder John McConnell sold 42,491 shares of Worthington Enterprises 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 reported quarterly earnings of $0.82 per share, beating estimates by $0.07, while revenue rose 13.2% year over year to $343.89 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 average price target.

Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report) major shareholder John McConnell sold 42,491 shares of Worthington Enterprises stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $60.43, for a total value of $2,567,731.13. Following the completion of the transaction, the insider owned 1,335,648 shares of the company's stock, valued at approximately $80,713,208.64. The trade was a 3.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's stock 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 shares were sold at an average price of $53.04, for a total value of $934,830.00.

Worthington Enterprises Trading Down 0.8%

Shares of NYSE:WOR traded down $0.49 during midday trading on Tuesday, reaching $60.38. The company had a trading volume of 25,715 shares, compared to its average volume of 245,578. The company has a fifty day simple moving average of $57.97 and a two-hundred day simple moving average of $55.75. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 18.24 and a beta of 1.30. Worthington Enterprises, Inc. has a 1-year low of $45.01 and a 1-year high of $67.54. 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 (NYSE:WOR - Get Free Report) last announced its earnings results on Tuesday, September 22nd. The industrial products company reported $0.82 EPS for the quarter, topping 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 company had revenue of $343.89 million during the quarter, compared to analysts' expectations of $331.26 million. During the same period last year, the company posted $0.74 earnings per share. The business's revenue for the quarter was up 13.2% on a year-over-year basis. Research analysts predict that Worthington Enterprises, Inc. will post 3.8 earnings per share for the current year.

Worthington Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, December 15th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.3%. Worthington Enterprises's dividend payout ratio is presently 24.17%.

Analyst Ratings Changes

A number of equities research analysts have commented on WOR shares. Wall Street Zen lowered Worthington Enterprises from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of Worthington Enterprises in a research note on Friday, July 17th. Finally, Canaccord Genuity Group boosted their price target on shares of Worthington Enterprises from $67.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, September 24th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $75.00.

Institutional Trading of Worthington Enterprises

Several large investors have recently added to or reduced their stakes in WOR. BlackRock Inc. acquired a new position in shares of Worthington Enterprises in the 2nd quarter worth approximately $283,372,000. Windsor Advisory Group LLC boosted 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 buying an additional 87,351 shares in the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new stake in Worthington Enterprises in the 1st quarter valued at $23,824,000. Bank of New York Mellon Corp bought a new stake in Worthington Enterprises in the second quarter valued at $18,376,000. Finally, VELA Investment Management LLC raised its stake in Worthington Enterprises by 5.4% during the second quarter. VELA Investment Management LLC now owns 228,927 shares of the industrial products company's stock worth $12,307,000 after acquiring an additional 11,818 shares in the last quarter. 51.59% of the stock is owned by institutional investors.

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.

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