Wedge Capital Management L L P NC lessened its position in shares of Worthington Industries, Inc. (NYSE:WOR) by 28.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,612 shares of the industrial products company’s stock after selling 2,241 shares during the period. Wedge Capital Management L L P NC’s holdings in Worthington Industries were worth $202,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in shares of Worthington Industries by 1,440.4% during the third quarter. Russell Investments Group Ltd. now owns 65,420 shares of the industrial products company’s stock worth $2,357,000 after acquiring an additional 61,173 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Worthington Industries by 14.8% during the third quarter. California Public Employees Retirement System now owns 111,296 shares of the industrial products company’s stock worth $4,012,000 after acquiring an additional 14,381 shares during the period. State of Tennessee Treasury Department boosted its holdings in shares of Worthington Industries by 4.4% during the third quarter. State of Tennessee Treasury Department now owns 31,469 shares of the industrial products company’s stock worth $1,134,000 after acquiring an additional 1,320 shares during the period. Chicago Equity Partners LLC acquired a new stake in shares of Worthington Industries in the third quarter valued at approximately $1,855,000. Finally, Janney Montgomery Scott LLC raised its position in shares of Worthington Industries by 266.4% in the third quarter. Janney Montgomery Scott LLC now owns 31,092 shares of the industrial products company’s stock valued at $1,121,000 after buying an additional 22,607 shares in the last quarter. Institutional investors own 45.77% of the company’s stock.
In other news, insider Jeffrey R. Klingler sold 961 shares of Worthington Industries stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.46, for a total value of $36,960.06. Following the completion of the sale, the insider now directly owns 5,307 shares in the company, valued at $204,107.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 34.80% of the stock is currently owned by insiders.
A number of equities research analysts have recently weighed in on WOR shares. TheStreet downgraded shares of Worthington Industries from a “b-” rating to a “c” rating in a research report on Wednesday, September 25th. ValuEngine upgraded shares of Worthington Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Zacks Investment Research reiterated a “sell” rating on shares of Worthington Industries in a research report on Saturday, September 28th.
Shares of NYSE WOR traded down $0.04 during midday trading on Friday, reaching $38.95. The company’s stock had a trading volume of 100,041 shares, compared to its average volume of 225,601. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 2.13. Worthington Industries, Inc. has a fifty-two week low of $31.42 and a fifty-two week high of $43.52. The business’s 50 day moving average price is $36.33 and its two-hundred day moving average price is $37.34. The company has a market cap of $2.17 billion, a P/E ratio of 14.06 and a beta of 1.16.
Worthington Industries (NYSE:WOR) last released its quarterly earnings results on Wednesday, September 25th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.10). Worthington Industries had a net margin of 2.58% and a return on equity of 15.28%. The business had revenue of $855.86 million during the quarter, compared to analyst estimates of $924.00 million. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The firm’s quarterly revenue was down 13.4% on a year-over-year basis. Sell-side analysts forecast that Worthington Industries, Inc. will post 2.72 earnings per share for the current fiscal year.
The firm also recently declared a — dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.24 dividend. The ex-dividend date is Thursday, December 12th. This represents a dividend yield of 2.7%. Worthington Industries’s payout ratio is 34.66%.
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.
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