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

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 declined 2.53% to 1.34 million shares.
• Worthington reported quarterly EPS of $0.82, beating estimates by $0.07, while revenue rose 13.2% year over year to $343.89 million. Shares recently traded at $60.82, with a market capitalization of about $2.98 billion.
• The company declared a quarterly dividend of $0.20, equivalent to an annualized $0.80 payout and a 1.3% yield. Analysts’ consensus rating is “Moderate Buy” with an average price target of $75.00.

Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report) major shareholder John McConnell sold 34,622 shares of the stock in a transaction on 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 sale, the insider owned 1,335,648 shares of the company's stock, valued at approximately $79,818,324.48. This represents a 2.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% 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 shares were sold at an average price of $53.04, for a total transaction of $934,830.00.

Worthington Enterprises Stock Performance

Shares of NYSE WOR traded down $1.42 during midday trading on Monday, reaching $60.82. 24,593 shares of the company were exchanged, compared to its average volume of 244,768. The stock has a market cap of $2.98 billion, a P/E ratio of 18.49 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 stock has a fifty day simple moving average of $57.84 and a 200 day simple moving average of $55.67. The company has a current ratio of 2.67, a quick ratio of 1.53 and a debt-to-equity ratio of 0.29.

Worthington Enterprises (NYSE:WOR - Get Free Report) last posted its quarterly earnings data 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 return on equity of 16.71% and a net margin of 11.50%.The firm had revenue of $343.89 million during the quarter, compared to the consensus estimate of $331.26 million. During the same period in the prior year, the business earned $0.74 EPS. The firm's revenue was up 13.2% compared to the same quarter last year. On average, research analysts forecast that Worthington Enterprises, Inc. will post 3.8 earnings per share for the current fiscal year.

Worthington Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, December 15th will be paid a $0.20 dividend. 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 payout ratio is currently 24.17%.

Wall Street Analyst Weigh In

WOR has been the subject of several recent analyst reports. Canaccord Genuity Group raised their target price on shares of Worthington Enterprises from $67.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday. Wall Street Zen cut shares of 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 report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Worthington Enterprises presently has a consensus rating of "Moderate Buy" and an average price target of $75.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Worthington Enterprises during the 1st quarter valued at approximately $25,000. Nykredit A S purchased a new position in Worthington Enterprises in the 2nd quarter valued at approximately $30,000. Public Employees Retirement System of Ohio purchased a new position in Worthington Enterprises in the 2nd quarter valued at approximately $35,000. Parallel Advisors LLC raised its holdings in Worthington Enterprises by 57.3% during the first quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company's stock worth $38,000 after purchasing an additional 263 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in Worthington Enterprises by 823.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 757 shares of the industrial products company's stock worth $39,000 after purchasing an additional 675 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.

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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