In a recent transaction, Ozey K. Horton Jr., a director at Worthington Enterprises, Inc. (NYSE:WOR), sold 1,000 shares of the company's common stock at a price of $62.25 per share. This sale resulted in a total transaction value of $62,250.
The transaction, which took place on March 28, 2024, was disclosed in a Form 4 filing with the Securities and Exchange Commission. Following the sale, Horton's remaining holdings in Worthington Enterprises adjusted to 41,688 shares. The adjustment to Horton's holdings comes in connection with the spin-off of Worthington Steel, Inc. by the Issuer, as noted in the footnotes of the filing.
Investors often look to insider transactions such as these to gain insights into company executives' perspectives on the stock's value and future performance. The sale by Horton might be of interest to shareholders and potential investors as they evaluate their positions in Worthington Enterprises.
Worthington Enterprises, headquartered in Columbus, Ohio, operates in the steel industry, specifically within steel works, blast furnaces, and rolling and finishing mills. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol WOR.
InvestingPro Insights
As investors digest the news of Ozey K. Horton Jr.'s stock sale, it's worth considering the current financial metrics and analyst sentiment for Worthington Enterprises, Inc. (NYSE:WOR). According to recent data from InvestingPro, Worthington Enterprises boasts a market cap of approximately $3.06 billion, with a P/E ratio of 11.01, reflecting a valuation that may be attractive to value investors, especially when considering the company's near-term earnings growth.
One of the InvestingPro Tips suggests that Worthington Enterprises has maintained dividend payments for 52 consecutive years, which could be a sign of the company's commitment to returning value to shareholders. In addition, the company has a history of raising its dividend for 10 consecutive years, signaling potential reliability and stability in its dividend policy. These aspects might be particularly appealing to income-focused investors.
Despite a challenging environment indicated by a revenue decline of -7.95% over the last twelve months, the company's gross profit margin stands at 13.35%, and it has managed to achieve a return on assets of 10.92%. This suggests that Worthington Enterprises is still generating a healthy return on its investments.
For those looking for more detailed analysis, there are additional InvestingPro Tips available at InvestingPro. Subscribers can access these tips to gain deeper insights into Worthington Enterprises' financial health and future prospects. To benefit from these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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