Huntington National Bank trimmed its position in Worthington Industries, Inc. (NYSE:WOR) by 25.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 9,007 shares of the industrial products company’s stock after selling 3,029 shares during the period. Huntington National Bank’s holdings in Worthington Industries were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its position in shares of Worthington Industries by 6.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,598,557 shares of the industrial products company’s stock valued at $64,358,000 after acquiring an additional 99,795 shares during the period. Bank of New York Mellon Corp grew its position in Worthington Industries by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 734,834 shares of the industrial products company’s stock worth $29,585,000 after purchasing an additional 36,947 shares during the period. JPMorgan Chase & Co. grew its position in Worthington Industries by 4.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 647,534 shares of the industrial products company’s stock worth $25,195,000 after purchasing an additional 25,194 shares during the period. Nuveen Asset Management LLC acquired a new stake in Worthington Industries during the 2nd quarter worth about $17,073,000. Finally, UBS Group AG grew its position in Worthington Industries by 414.4% during the 2nd quarter. UBS Group AG now owns 246,849 shares of the industrial products company’s stock worth $9,938,000 after purchasing an additional 198,857 shares during the period. 45.77% of the stock is currently owned by hedge funds and other institutional investors.
WOR traded down $0.04 during midday trading on Friday, hitting $38.95. 100,041 shares of the company were exchanged, compared to its average volume of 225,601. The company’s 50 day simple moving average is $36.33 and its 200 day simple moving average is $37.34. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 14.06 and a beta of 1.16. The company has a current ratio of 2.13, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80. Worthington Industries, Inc. has a 1-year low of $31.42 and a 1-year high of $43.52.
Worthington Industries (NYSE:WOR) last announced its quarterly earnings results on Wednesday, September 25th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.10). The company had revenue of $855.86 million for the quarter, compared to analyst estimates of $924.00 million. Worthington Industries had a return on equity of 15.28% and a net margin of 2.58%. Worthington Industries’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. On average, equities analysts anticipate that Worthington Industries, Inc. will post 2.72 EPS for the current year.
The business also recently declared a — dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.24 per share. This represents a yield of 2.7%. The ex-dividend date of this dividend is Thursday, December 12th. Worthington Industries’s dividend payout ratio is currently 34.66%.
In other Worthington Industries news, insider Jeffrey R. Klingler sold 961 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.46, for a total transaction of $36,960.06. Following the sale, the insider now directly owns 5,307 shares of the company’s stock, valued at approximately $204,107.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 34.80% of the stock is currently owned by company insiders.
Several equities research analysts have weighed in on the company. TheStreet downgraded Worthington Industries from a “b-” rating to a “c” rating in a research report on Wednesday, September 25th. ValuEngine raised Worthington Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Zacks Investment Research reaffirmed a “sell” rating on shares of Worthington Industries in a research report on Saturday, September 28th.
Worthington Industries 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.
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