Stifel Financial Corp trimmed its position in shares of Worthington Industries, Inc. (NYSE:WOR) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,701 shares of the industrial products company’s stock after selling 120 shares during the period. Stifel Financial Corp’s holdings in Worthington Industries were worth $235,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Texas Permanent School Fund lifted its stake in Worthington Industries by 0.9% during the second quarter. Texas Permanent School Fund now owns 32,081 shares of the industrial products company’s stock worth $1,611,000 after purchasing an additional 271 shares in the last quarter. American Century Companies Inc. lifted its stake in Worthington Industries by 107.8% during the second quarter. American Century Companies Inc. now owns 317,157 shares of the industrial products company’s stock worth $15,928,000 after purchasing an additional 164,505 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Worthington Industries during the second quarter worth $331,000. Gareth Morgan Investments Limited Partnership acquired a new position in Worthington Industries during the second quarter worth $1,414,000. Finally, Prudential Financial Inc. lifted its stake in Worthington Industries by 4.8% during the second quarter. Prudential Financial Inc. now owns 765,484 shares of the industrial products company’s stock worth $38,443,000 after purchasing an additional 34,720 shares in the last quarter. Institutional investors own 52.28% of the company’s stock.
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Shares of Worthington Industries, Inc. (NYSE WOR) opened at $44.77 on Tuesday. The stock has a market capitalization of $2,833.68, a price-to-earnings ratio of 15.52, a PEG ratio of 3.46 and a beta of 1.14. The company has a quick ratio of 1.36, a current ratio of 2.14 and a debt-to-equity ratio of 0.71. Worthington Industries, Inc. has a 52 week low of $40.82 and a 52 week high of $62.44.
Worthington Industries (NYSE:WOR) last announced its quarterly earnings data on Wednesday, September 27th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.09). The company had revenue of $848.24 million during the quarter, compared to analyst estimates of $854.20 million. Worthington Industries had a net margin of 5.90% and a return on equity of 17.98%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 earnings per share. analysts anticipate that Worthington Industries, Inc. will post 3.1 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, December 14th. Worthington Industries’s payout ratio is currently 29.58%.
Worthington Industries declared that its board has approved a stock repurchase plan on Wednesday, September 27th that allows the company to repurchase 6,830,000 outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Peter Karmanos sold 45,376 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $45.77, for a total value of $2,076,859.52. Following the transaction, the director now owns 85,840 shares of the company’s stock, valued at $3,928,896.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John G. Lamprinakos sold 7,500 shares of the stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $44.96, for a total value of $337,200.00. Following the completion of the transaction, the insider now directly owns 70,751 shares in the company, valued at approximately $3,180,964.96. The disclosure for this sale can be found here. 31.30% of the stock is currently owned by company insiders.
A number of research analysts have commented on the company. Zacks Investment Research cut Worthington Industries from a “hold” rating to a “sell” rating in a research note on Saturday, September 30th. ValuEngine cut Worthington Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, BidaskClub cut Worthington Industries from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Worthington Industries has a consensus rating of “Hold” and an average price target of $46.50.
Worthington Industries Company Profile
Worthington Industries, Inc is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors.
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