Worthington Industries Inc. (NYSE:WOR) – Jefferies Group upped their FY2017 earnings estimates for Worthington Industries in a report released on Wednesday. Jefferies Group analyst S. Rosenfeld now anticipates that the brokerage will post earnings per share of $3.14 for the year, up from their prior estimate of $2.61. Jefferies Group currently has a “Hold” rating and a $42.00 price objective on the stock. Jefferies Group also issued estimates for Worthington Industries’ Q4 2017 earnings at $0.67 EPS and FY2018 earnings at $3.07 EPS.
WOR has been the topic of a number of other research reports. Zacks Investment Research lowered Worthington Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Worthington Industries in a research report on Thursday, June 30th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.00.
Worthington Industries (NYSE:WOR) opened at 48.03 on Friday. The stock’s 50 day moving average price is $43.02 and its 200-day moving average price is $39.98. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 17.39 and a beta of 1.50. Worthington Industries has a one year low of $25.50 and a one year high of $48.50.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings results on Wednesday, September 28th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates 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 earned $737.50 million during the quarter. During the same quarter last year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.67%. Worthington Industries’s payout ratio is presently 28.99%.
In related news, insider Geoffrey G. Gilmore sold 11,079 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $42.73, for a total transaction of $473,405.67. Following the completion of the transaction, the insider now directly owns 52,469 shares in the company, valued at $2,242,000.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Dale T. Brinkman sold 4,188 shares of the stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $42.10, for a total value of $176,314.80. Following the transaction, the vice president now owns 57,336 shares of the company’s stock, valued at $2,413,845.60. The disclosure for this sale can be found here. Corporate insiders own 32.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. LS Investment Advisors LLC increased its position in 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 during the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in Worthington Industries during the second quarter worth $115,000. Meeder Asset Management Inc. bought a new position in Worthington Industries during the second quarter worth $115,000. Tower Research Capital LLC TRC bought a new position in Worthington Industries during the second quarter worth $122,000. Finally, Acrospire Investment Management LLC increased its position in Worthington Industries by 45.5% in the second quarter. Acrospire Investment Management LLC now owns 3,200 shares of the company’s stock worth $135,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 50.94% of the company’s stock.
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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