US Bancorp DE grew its position in shares of Worthington Industries, Inc. (NYSE:WOR) by 64.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,096 shares of the industrial products company’s stock after acquiring an additional 431 shares during the quarter. US Bancorp DE’s holdings in Worthington Industries were worth $67,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Worthington Industries by 2.4% during the 1st quarter. BlackRock Inc. now owns 4,897,412 shares of the industrial products company’s stock worth $328,567,000 after acquiring an additional 113,466 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Worthington Industries by 4.8% in the 1st quarter. Geode Capital Management LLC now owns 674,812 shares of the industrial products company’s stock worth $45,273,000 after buying an additional 30,673 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Worthington Industries by 19.6% in the 1st quarter. JPMorgan Chase & Co. now owns 258,465 shares of the industrial products company’s stock worth $17,340,000 after buying an additional 42,392 shares during the last quarter. Foundry Partners LLC purchased a new position in shares of Worthington Industries in the 1st quarter worth about $13,778,000. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Worthington Industries by 3.7% in the 1st quarter. Vontobel Holding Ltd. now owns 180,461 shares of the industrial products company’s stock worth $12,107,000 after buying an additional 6,503 shares during the last quarter. 46.75% of the stock is currently owned by hedge funds and other institutional investors.
WOR has been the topic of a number of research analyst reports. Seaport Global Securities initiated coverage on shares of Worthington Industries in a report on Monday, August 23rd. They issued a “neutral” rating on the stock. Zacks Investment Research downgraded shares of Worthington Industries from a “buy” rating to a “hold” rating in a report on Wednesday, September 15th. Finally, Seaport Res Ptn reaffirmed a “neutral” rating on shares of Worthington Industries in a report on Monday, August 23rd. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $76.00.
Worthington Industries (NYSE:WOR) last announced its quarterly earnings results on Tuesday, June 22nd. The industrial products company reported $2.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.58. Worthington Industries had a return on equity of 17.42% and a net margin of 22.82%. The firm had revenue of $978.32 million for the quarter. During the same quarter in the prior year, the company earned $0.49 earnings per share. The company’s quarterly revenue was up 60.0% on a year-over-year basis. As a group, equities research analysts anticipate that Worthington Industries, Inc. will post 4.67 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 15th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, September 14th. Worthington Industries’s dividend payout ratio is presently 22.09%.
In related news, COO Geoffrey G. Gilmore sold 9,497 shares of the company’s stock in a transaction that occurred on Tuesday, July 13th. The shares were sold at an average price of $60.99, for a total value of $579,222.03. Following the transaction, the chief operating officer now directly owns 188,514 shares in the company, valued at $11,497,468.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ozey K. Horton, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 3rd. The stock was sold at an average price of $62.30, for a total transaction of $62,300.00. Following the completion of the transaction, the director now owns 35,469 shares in the company, valued at $2,209,718.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,497 shares of company stock worth $1,239,822. Company insiders own 37.50% of the company’s stock.
Worthington Industries Company Profile
Worthington Industries, Inc engages in processing of value-added steel and manufacturing of metal products. It operates through the following segments: Steel Processing and Pressure Cylinders. The Steel Processing segment consists of Worthington Steel business unit and consolidated joint ventures, which operates steel business and its prices.
Read More: What is Cost of Capital?
Want to see what other hedge funds are holding WOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Worthington Industries, Inc. (NYSE:WOR).
Receive News & Ratings for Worthington Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Worthington Industries and related companies with MarketBeat.com's FREE daily email newsletter.