Tower Research Capital LLC TRC bought a new stake in shares of Worthington Industries Inc. (NYSE:WOR) during the second quarter, Holdings Channel reports. The institutional investor bought 2,894 shares of the company’s stock, valued at approximately $122,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pacad Investment Ltd. bought a new position in shares of Worthington Industries during the first quarter valued at $403,000. TIAA CREF Investment Management LLC increased its position in shares of Worthington Industries by 2.3% in the first quarter. TIAA CREF Investment Management LLC now owns 251,567 shares of the company’s stock valued at $8,966,000 after buying an additional 5,707 shares during the period. Teachers Advisors Inc. increased its position in shares of Worthington Industries by 0.5% in the first quarter. Teachers Advisors Inc. now owns 117,640 shares of the company’s stock valued at $4,193,000 after buying an additional 601 shares during the period. BlackRock Group LTD increased its position in shares of Worthington Industries by 17.9% in the first quarter. BlackRock Group LTD now owns 54,033 shares of the company’s stock valued at $1,926,000 after buying an additional 8,216 shares during the period. Finally, Menta Capital LLC bought a new position in shares of Worthington Industries during the first quarter valued at $545,000. Institutional investors own 51.72% of the company’s stock.
Shares of Worthington Industries Inc. (NYSE:WOR) opened at 48.16 on Wednesday. Worthington Industries Inc. has a 1-year low of $25.50 and a 1-year high of $49.72. The company has a 50 day moving average price of $44.10 and a 200-day moving average price of $40.65. The stock has a market capitalization of $2.99 billion, a P/E ratio of 17.44 and a beta of 1.43.
Worthington Industries (NYSE:WOR) last announced its quarterly earnings data on Wednesday, September 28th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $737.50 million for the quarter. During the same quarter in the previous year, the company earned $0.54 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Worthington Industries Inc. will post $3.30 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.66%. The ex-dividend date is Tuesday, December 13th. Worthington Industries’s dividend payout ratio is currently 28.99%.
WOR has been the topic of several analyst reports. Zacks Investment Research downgraded Worthington Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. JPMorgan Chase & Co. restated a “hold” rating on shares of Worthington Industries in a research note on Thursday, June 30th. Finally, Jefferies Group restated a “hold” rating on shares of Worthington Industries in a research note on Thursday, June 30th. Three investment 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. Worthington Industries has an average rating of “Buy” and a consensus price target of $41.00.
In related news, insider Geoffrey G. Gilmore sold 11,079 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 52,469 shares in the company, valued at approximately $2,242,000.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 32.00% of the stock is owned by corporate insiders.
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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