Worthington Industries Inc. (NYSE:WOR) – Equities research analysts at KeyCorp lifted their Q2 2017 EPS estimates for shares of Worthington Industries in a report issued on Wednesday. KeyCorp analyst P. Gibbs now forecasts that the brokerage will post earnings per share of $0.70 for the quarter, up from their prior forecast of $0.60. KeyCorp also issued estimates for Worthington Industries’ Q3 2017 earnings at $0.60 EPS, Q4 2017 earnings at $0.80 EPS and FY2017 earnings at $3.13 EPS.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Worthington Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Jefferies Group reiterated a “hold” rating and set a $37.00 target price on shares of Worthington Industries in a report on Friday, September 16th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Worthington Industries in a report on Thursday, June 30th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Worthington Industries presently has a consensus rating of “Buy” and an average target price of $41.00.
Worthington Industries (NYSE:WOR) opened at 48.03 on Friday. Worthington Industries has a 12-month low of $25.50 and a 12-month high of $48.50. The company has a 50-day moving average price of $43.02 and a 200-day moving average price of $39.98. The stock has a market capitalization of $2.99 billion, a PE ratio of 17.39 and a beta of 1.50.
Worthington Industries (NYSE:WOR) last posted its quarterly earnings results on Wednesday, September 28th. The company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.26. Worthington Industries had a return on equity of 21.60% and a net margin of 6.32%. The company had revenue of $737.50 million for the quarter. During the same period in the prior year, the firm posted $0.54 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Tuesday, December 13th. Worthington Industries’s dividend payout ratio is presently 28.99%.
In other Worthington Industries news, VP Catherine M. Lyttle sold 3,750 shares of the stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $42.37, for a total transaction of $158,887.50. Following the transaction, the vice president now owns 25,488 shares of the company’s stock, valued at approximately $1,079,926.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Geoffrey G. Gilmore sold 11,079 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $42.73, for a total value of $473,405.67. Following the transaction, the insider now directly owns 52,469 shares in the company, valued at approximately $2,242,000.37. The disclosure for this sale can be found here. Company insiders own 32.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. LS Investment Advisors LLC raised its position in shares of Worthington Industries by 68.6% in the second quarter. LS Investment Advisors LLC now owns 2,699 shares of the company’s stock worth $114,000 after buying an additional 1,098 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Worthington Industries during the second quarter worth $115,000. Meeder Asset Management Inc. acquired a new position in shares of Worthington Industries during the second quarter worth $115,000. Tower Research Capital LLC TRC acquired a new position in shares of Worthington Industries during the second quarter worth $122,000. Finally, Acrospire Investment Management LLC raised its position in shares of Worthington Industries by 45.5% in the second quarter. Acrospire Investment Management LLC now owns 3,200 shares of the company’s stock valued at $135,000 after buying an additional 1,000 shares during the period. 50.94% of the stock is currently owned by institutional investors.
About Worthington Industries
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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