On July 6, 2023, Jeffrey Klingler, President of Worthington Steel, sold 13,367 shares of Worthington Industries Inc (WOR, Financial). This move comes amidst a year where Klingler has sold a total of 13,367 shares and purchased none.
Jeffrey Klingler is a key figure at Worthington Industries Inc, serving as the President of Worthington Steel. His role involves overseeing the strategic direction and operations of the company's steel processing business. His recent sell-off of shares has sparked interest among investors and market watchers.
Worthington Industries Inc is a leading global diversified metals manufacturing company with 2020 fiscal year net sales of $3.3 billion. The company delivers a wide range of steel processing and manufactured metal products to customers in industries such as automotive, construction, and agriculture.
The insider transaction history for Worthington Industries Inc shows a trend of more sells than buys over the past year. There have been 2 insider buys and 6 insider sells in total. This could indicate that insiders believe the company's stock is currently overvalued, prompting them to sell their shares.
As of Jeffrey Klingler's recent sell, shares of Worthington Industries Inc were trading at $67.08, giving the company a market cap of $3.305 billion. The price-earnings ratio stands at 13.11, which is lower than both the industry median of 22.76 and the company's historical median price-earnings ratio. This suggests that the stock may be undervalued compared to its peers and its own historical performance.
However, with a price of $67.08 and a GuruFocus Value of $71.88, Worthington Industries Inc has a price-to-GF-Value ratio of 0.93. This indicates that the stock is fairly valued based on its GF Value. The GF Value is an intrinsic value estimate developed by GuruFocus, calculated based on historical multiples, a GuruFocus adjustment factor, and future estimates of business performance from Morningstar analysts.
In conclusion, the recent insider sell by Jeffrey Klingler, coupled with the overall insider sell trend at Worthington Industries Inc, may suggest that insiders believe the stock is currently fairly valued. However, with a lower than average price-earnings ratio, the stock may still present an attractive opportunity for value investors.
