Smith Graham & Co. Investment Advisors LP lowered its holdings in Worthington Industries, Inc. (NYSE:WOR) by 2.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 151,523 shares of the industrial products company’s stock after selling 4,050 shares during the quarter. Smith Graham & Co. Investment Advisors LP owned approximately 0.27% of Worthington Industries worth $6,391,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of Worthington Industries during the second quarter valued at approximately $36,000. Tower Research Capital LLC TRC boosted its holdings in Worthington Industries by 74.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,588 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 1,104 shares in the last quarter. First Mercantile Trust Co. boosted its holdings in Worthington Industries by 11.6% in the third quarter. First Mercantile Trust Co. now owns 2,961 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 308 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Worthington Industries during the 2nd quarter valued at $171,000. Finally, State of Alaska Department of Revenue purchased a new position in Worthington Industries during the 3rd quarter valued at $237,000. Institutional investors and hedge funds own 46.93% of the company’s stock.
WOR stock opened at $39.57 on Wednesday. Worthington Industries, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $44.69. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 20.19 and a beta of 1.17. The business’s 50 day moving average price is $41.09 and its two-hundred day moving average price is $38.16. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.33 and a current ratio of 2.13.
Worthington Industries (NYSE:WOR) last released its earnings results on Tuesday, December 17th. The industrial products company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. The company had revenue of $827.60 million during the quarter, compared to analysts’ expectations of $786.60 million. Worthington Industries had a return on equity of 15.84% and a net margin of 3.20%. The firm’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. Sell-side analysts forecast that Worthington Industries, Inc. will post 2.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.96 dividend on an annualized basis and a yield of 2.43%. Worthington Industries’s dividend payout ratio (DPR) is 34.66%.
In other Worthington Industries news, insider Eric M. Smolenski sold 8,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $44.14, for a total value of $353,120.00. Following the sale, the insider now owns 49,106 shares in the company, valued at $2,167,538.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffrey R. Klingler sold 961 shares of the company’s 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 completion of the sale, the insider now owns 5,307 shares in the company, valued at approximately $204,107.22. The disclosure for this sale can be found here. Company insiders own 34.80% of the company’s stock.
Several research analysts have commented on the stock. TheStreet upgraded shares of Worthington Industries from a “c” rating to a “b-” rating in a report on Tuesday, December 17th. Zacks Investment Research upgraded shares of Worthington Industries from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Friday, December 20th. ValuEngine upgraded shares of Worthington Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Exane BNP Paribas started coverage on shares of Worthington Industries in a research note on Thursday, November 14th. They issued a “neutral” rating and a $38.00 price target for the company.
About Worthington Industries
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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