Capital Fund Management S.A. bought a new stake in Worthington Industries Inc. (NYSE:WOR) during the second quarter, Holdings Channel reports. The fund bought 30,400 shares of the company’s stock, valued at approximately $1,286,000.
Other hedge funds have also added to or reduced their stakes in the company. Capital One National Association boosted its stake in Worthington Industries by 0.9% in the second quarter. Capital One National Association now owns 20,244 shares of the company’s stock valued at $857,000 after buying an additional 185 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Worthington Industries by 0.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 74,803 shares of the company’s stock valued at $2,666,000 after buying an additional 434 shares in the last quarter. Teachers Advisors Inc. boosted its stake 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 in the last quarter. LS Investment Advisors LLC boosted its stake in Worthington Industries by 68.6% in the second quarter. LS Investment Advisors LLC now owns 2,699 shares of the company’s stock valued at $114,000 after buying an additional 1,098 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Worthington Industries by 1.8% in the second quarter. American Century Companies Inc. now owns 93,329 shares of the company’s stock valued at $3,948,000 after buying an additional 1,666 shares in the last quarter. Hedge funds and other institutional investors own 50.94% of the company’s stock.
Worthington Industries Inc. (NYSE:WOR) traded up 2.00% during midday trading on Friday, hitting $48.54. The stock had a trading volume of 766,493 shares. Worthington Industries Inc. has a 12-month low of $25.50 and a 12-month high of $48.64. The firm has a 50-day moving average of $43.77 and a 200-day moving average of $40.43. The company has a market cap of $3.02 billion, a PE ratio of 17.57 and a beta of 1.43.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings data 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 business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.54 EPS. Equities research analysts forecast that Worthington Industries Inc. will post $3.30 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.65%. Worthington Industries’s dividend payout ratio (DPR) is presently 28.99%.
Several research firms recently issued reports on WOR. 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 report on Friday, June 17th. Jefferies Group restated a “hold” rating and set a $37.00 price target (up previously from $33.00) on shares of Worthington Industries in a report on Friday, June 10th. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Worthington Industries in a report on Thursday, June 30th. Three research 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 company. Worthington Industries currently has a consensus rating of “Buy” and an average target price of $41.00.
In other news, insider Geoffrey G. Gilmore sold 11,079 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $42.73, for a total value of $473,405.67. Following the completion of the transaction, the insider now owns 52,469 shares of the company’s stock, valued at approximately $2,242,000.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 32.00% of the stock is owned by insiders.
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.
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