Strs Ohio reduced its stake in shares of Worthington Industries Inc. (NYSE:WOR) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,900 shares of the company’s stock after selling 1,400 shares during the period. Strs Ohio’s holdings in Worthington Industries were worth $1,222,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in Worthington Industries by 256.1% in the first quarter. Goldman Sachs Group Inc. now owns 331,389 shares of the company’s stock valued at $11,811,000 after buying an additional 238,324 shares during the period. State Street Corp boosted its position in Worthington Industries by 9.3% in the first quarter. State Street Corp now owns 2,115,615 shares of the company’s stock valued at $75,401,000 after buying an additional 179,794 shares during the period. BlackRock Group LTD boosted its position in Worthington Industries by 17.9% in the first quarter. BlackRock Group LTD now owns 54,033 shares of the company’s stock valued at $1,926,000 after buying an additional 8,216 shares during the period. Teachers Advisors Inc. boosted its position in Worthington Industries by 0.5% in the first quarter. Teachers Advisors Inc. now owns 117,640 shares of the company’s stock valued at $4,193,000 after buying an additional 601 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Worthington Industries during the first quarter valued at approximately $568,000. 51.72% of the stock is owned by institutional investors.
Shares of Worthington Industries Inc. (NYSE:WOR) traded up 0.69% during trading on Wednesday, reaching $48.49. The company had a trading volume of 274,145 shares. The firm has a market capitalization of $3.02 billion, a PE ratio of 17.56 and a beta of 1.43. The stock has a 50 day moving average price of $44.10 and a 200 day moving average price of $40.65. Worthington Industries Inc. has a 12 month low of $25.50 and a 12 month high of $49.72.
Worthington Industries (NYSE:WOR) last announced its quarterly earnings results on Wednesday, September 28th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.26. The business earned $737.50 million during the quarter. Worthington Industries had a return on equity of 21.60% and a net margin of 6.32%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 earnings per share. On average, equities research analysts forecast that Worthington Industries Inc. will post $3.30 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.65%. Worthington Industries’s dividend payout ratio is 28.99%.
WOR has been the subject of several research analyst reports. Jefferies Group reiterated a “hold” rating and set a $37.00 target price on shares of Worthington Industries in a research note on Friday, September 16th. Zacks Investment Research upgraded Worthington Industries from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Friday, June 17th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Worthington Industries in a research note on Thursday, June 30th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.00.
In other news, insider Geoffrey G. Gilmore sold 11,079 shares of Worthington Industries stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $42.73, for a total transaction of $473,405.67. Following the completion of the sale, the insider now directly owns 52,469 shares in the company, valued at approximately $2,242,000.37. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 32.00% of the company’s stock.
About Worthington Industries
Worthington Industries, Inc is a diversified metals manufacturing company. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Company’s Steel Processing segment consists of the Worthington Steel business unit, Precision Specialty Metals, Inc and Worthington Steelpac Systems, LLC and also includes two consolidated joint ventures: Spartan Steel Coating, LLC, which operates a cold-rolled hot dipped galvanizing line in Monroe, Michigan, and TWB Company, LLC., which operates a laser welded blank business.