Worthington Industries Inc. (NYSE:WOR) announced a quarterly dividend on Wednesday, September 28th. Shareholders of record on Thursday, December 15th will be paid a dividend of 0.20 per share on Thursday, December 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.71%.
Shares of Worthington Industries (NYSE:WOR) opened at 46.89 on Thursday. The firm’s 50 day moving average is $42.72 and its 200-day moving average is $39.83. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 21.12 and a beta of 1.50. Worthington Industries has a 52 week low of $25.50 and a 52 week high of $47.09.
Worthington Industries (NYSE:WOR) last issued its earnings results on Wednesday, September 28th. The company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.26. Worthington Industries had a net margin of 5.06% and a return on equity of 18.83%. The firm earned $737.50 million during the quarter, compared to the consensus estimate of $742.80 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. Equities research analysts predict that Worthington Industries will post $2.84 EPS for the current year.
In related news, VP Catherine M. Lyttle sold 3,750 shares of the stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $42.37, for a total transaction of $158,887.50. Following the completion of the transaction, the vice president now owns 25,488 shares in the company, valued at $1,079,926.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dale T. Brinkman sold 4,188 shares of the stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $42.10, for a total transaction of $176,314.80. Following the transaction, the vice president now owns 57,336 shares of the company’s stock, valued at approximately $2,413,845.60. The disclosure for this sale can be found here. Corporate insiders own 32.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Piermont Capital Management Inc. acquired a new position in shares of Worthington Industries during the second quarter valued at approximately $1,576,000. Thrivent Financial for Lutherans boosted its position in shares of Worthington Industries by 7.5% in the second quarter. Thrivent Financial for Lutherans now owns 6,320 shares of the company’s stock valued at $267,000 after buying an additional 440 shares during the last quarter. Profund Advisors LLC boosted its position in shares of Worthington Industries by 39.0% in the second quarter. Profund Advisors LLC now owns 14,528 shares of the company’s stock valued at $615,000 after buying an additional 4,076 shares during the last quarter. Johnson Investment Counsel Inc. acquired a new position in shares of Worthington Industries during the second quarter valued at approximately $215,000. Finally, Pacad Investment Ltd. boosted its position in shares of Worthington Industries by 0.9% in the second quarter. Pacad Investment Ltd. now owns 11,400 shares of the company’s stock valued at $482,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 50.94% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Worthington Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. Jefferies Group reissued a “hold” rating on shares of Worthington Industries in a research report on Thursday, June 30th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Worthington Industries in a research report on Thursday, June 30th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $37.00.
Worthington Industries Company Profile
Worthington Industries, Inc is a diversified metals manufacturing company. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Company’s Steel Processing segment consists of the Worthington Steel business unit, Precision Specialty Metals, Inc and Worthington Steelpac Systems, LLC and also includes two consolidated joint ventures: Spartan Steel Coating, LLC, which operates a cold-rolled hot dipped galvanizing line in Monroe, Michigan, and TWB Company, LLC., which operates a laser welded blank business.
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