Gateway Investment Advisers LLC lifted its holdings in Worthington Industries, Inc. (NYSE:WOR) by 6.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,747 shares of the industrial products company’s stock after acquiring an additional 3,411 shares during the quarter. Gateway Investment Advisers LLC owned approximately 0.09% of Worthington Industries worth $2,417,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in WOR. Wells Fargo & Company MN boosted its holdings in shares of Worthington Industries by 1.5% in the 1st quarter. Wells Fargo & Company MN now owns 84,634 shares of the industrial products company’s stock worth $3,632,000 after acquiring an additional 1,250 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Worthington Industries by 52.8% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 8,948 shares of the industrial products company’s stock worth $384,000 after acquiring an additional 3,093 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in Worthington Industries by 67.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 8,416 shares of the industrial products company’s stock worth $361,000 after buying an additional 3,400 shares in the last quarter. Fisher Asset Management LLC acquired a new position in Worthington Industries during the 2nd quarter worth $4,430,000. Finally, Arbor Investment Advisors LLC acquired a new position in Worthington Industries during the 2nd quarter worth $1,597,000. 50.36% of the stock is currently owned by institutional investors and hedge funds.
In other Worthington Industries news, VP Terrence M. Dyer sold 14,551 shares of the company’s stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of $46.81, for a total transaction of $681,132.31. Following the transaction, the vice president now owns 18,491 shares of the company’s stock, valued at approximately $865,563.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 31.30% of the stock is currently owned by corporate insiders.
Worthington Industries (NYSE:WOR) last posted its quarterly earnings data on Wednesday, September 26th. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.10). Worthington Industries had a return on equity of 18.42% and a net margin of 5.49%. The firm had revenue of $988.10 million for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company posted $0.73 EPS. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, analysts expect that Worthington Industries, Inc. will post 3.21 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.26%. The ex-dividend date is Thursday, December 13th. Worthington Industries’s dividend payout ratio is 31.94%.
Several research analysts have issued reports on WOR shares. JPMorgan Chase & Co. reduced their price objective on Worthington Industries from $48.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, September 27th. Zacks Investment Research downgraded Worthington Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 7th. ValuEngine downgraded Worthington Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, Jefferies Financial Group reduced their price objective on Worthington Industries from $48.00 to $47.00 and set a “hold” rating on the stock in a report on Thursday, September 27th.
Worthington Industries Company Profile
Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.
Read More: Initial Public Offering (IPO)
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