Worthington Enterprises, Inc. (NYSE:WOR – Get Free Report) major shareholder John P/Oh Mcconnell sold 41,704 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $55.85, for a total value of $2,329,168.40. Following the completion of the sale, the insider directly owned 1,335,648 shares of the company’s stock, valued at approximately $74,595,940.80. The trade was a 3.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Major 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 P/Oh 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 Price Performance
Worthington Enterprises stock opened at $55.84 on Friday. The stock’s 50 day moving average is $56.45 and its 200 day moving average is $54.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.37 and a quick ratio of 1.43. The firm has a market cap of $2.75 billion, a P/E ratio of 17.78 and a beta of 1.29. Worthington Enterprises, Inc. has a one year low of $45.01 and a one year high of $67.80.
Worthington Enterprises Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Worthington Enterprises’s previous quarterly dividend of $0.19. Worthington Enterprises’s payout ratio is currently 24.20%.
Analyst Ratings Changes
A number of brokerages recently weighed in on WOR. Weiss Ratings reissued a “hold (c)” rating on shares of Worthington Enterprises in a research note on Friday, July 17th. Canaccord Genuity Group cut their price target on shares of Worthington Enterprises from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Finally, Wall Street Zen cut shares of Worthington Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.50.
View Our Latest Stock Analysis on Worthington Enterprises
Institutional Investors Weigh In On Worthington Enterprises
A number of hedge funds have recently added to or reduced their stakes in WOR. Allworth Financial LP lifted its stake in Worthington Enterprises by 872.0% in the fourth quarter. Allworth Financial LP now owns 486 shares of the industrial products company’s stock valued at $25,000 after buying an additional 436 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Worthington Enterprises during the 1st quarter worth approximately $25,000. McMillan Office Inc. acquired a new stake in shares of Worthington Enterprises during the 4th quarter worth approximately $31,000. Farther Finance Advisors LLC grew its position in shares of Worthington Enterprises by 81.3% during the 4th quarter. Farther Finance Advisors LLC now owns 678 shares of the industrial products company’s stock worth $35,000 after buying an additional 304 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Worthington Enterprises by 57.3% in the 1st quarter. Parallel Advisors LLC now owns 722 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 263 shares in the last quarter. 51.59% of the stock is currently owned by institutional investors.
About Worthington Enterprises
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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