Ameriprise Financial Inc. decreased its stake in shares of Worthington Industries Inc. (NYSE:WOR) by 4.0% during the second quarter, Holdings Channel reports. The firm owned 114,062 shares of the company’s stock after selling 4,695 shares during the period. Ameriprise Financial Inc. owned 0.18% of Worthington Industries worth $4,825,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Worthington Industries during the second quarter valued at about $645,000. Twin Capital Management Inc. purchased a new stake in shares of Worthington Industries during the second quarter valued at about $1,842,000. LSV Asset Management purchased a new stake in shares of Worthington Industries during the second quarter valued at about $1,041,000. PNC Financial Services Group Inc. increased its stake in shares of Worthington Industries by 2.3% in the second quarter. PNC Financial Services Group Inc. now owns 21,483 shares of the company’s stock valued at $909,000 after buying an additional 492 shares during the period. Finally, Princeton Alpha Management LP purchased a new stake in shares of Worthington Industries during the second quarter valued at about $329,000. 51.72% of the stock is currently owned by institutional investors.
Worthington Industries Inc. (NYSE:WOR) traded up 0.08% during trading on Friday, hitting $47.55. 342,300 shares of the stock traded hands. The company’s 50 day moving average is $44.50 and its 200 day moving average is $40.84. Worthington Industries Inc. has a one year low of $25.50 and a one year high of $49.72. The company has a market capitalization of $2.96 billion, a P/E ratio of 17.22 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 analysts’ consensus estimates of $0.77 by $0.26. Worthington Industries had a net margin of 6.32% and a return on equity of 21.60%. The firm had revenue of $737.50 million for the quarter. During the same period in the previous year, the business posted $0.54 earnings per share. Worthington Industries’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts forecast that Worthington Industries Inc. will post $3.30 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.68%. Worthington Industries’s payout ratio is presently 28.99%.
Several brokerages have issued reports on WOR. Zacks Investment Research raised shares of Worthington Industries from a “hold” rating to a “strong-buy” rating and set a $55.00 target price on the stock in a research note on Saturday, October 1st. Jefferies Group reissued a “hold” rating and set a $42.00 target price (up from $37.00) on shares of Worthington Industries in a research note on Thursday, September 29th. Finally, JPMorgan Chase & Co. restated 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 given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $41.00.
In other Worthington Industries news, insider Geoffrey G. Gilmore sold 11,079 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were 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 of the company’s stock, valued at $2,242,000.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 32.00% of the stock is currently owned by company insiders.
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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