CFO Joseph B Hayek buys 2,500 WOR shares at $40.21 as stock falls 43.8% from 52-week high
Joseph B Hayek, EVP and CFO of Worthington Enterprises, purchased 2,500 shares at $40.21 on 2024-10-11, increasing his holdings to 168,875 shares. The purchase occurs at a notably depressed price point: the stock trades at $40.31 currently, down 43.8% from its 52-week high of $71.70 and down 10.9% over the preceding 30 days. At the same-ticker level, Hayek's two prior trades at WOR were both sells executed on 2023-06-30, both of which were well-timed at the 90-day mark (posting -11.2% and -10.4% respective 90-day returns after the sales). The company faces significant headwinds: annual revenue growth contracted 74.7% year-over-year, and the P/E ratio stands at 52.35, suggesting stretched earnings multiples relative to current profitability. The buy-after-decline by the CFO in a fundamentally challenged environment, following his prior pattern of well-timed exits at this ticker, merits investor attention to the underlying drivers and near-term trajectory.