Capstone Asset Management Co. lowered its stake in shares of Worthington Industries Inc. (NYSE:WOR) by 3.4% during the third quarter, Holdings Channel reports. The institutional investor owned 4,593 shares of the company’s stock after selling 160 shares during the period. Capstone Asset Management Co.’s holdings in Worthington Industries were worth $221,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Eqis Capital Management Inc. purchased a new position in shares of Worthington Industries during the third quarter valued at about $220,000. Macquarie Group Ltd. increased its position in shares of Worthington Industries by 12.9% in the second quarter. Macquarie Group Ltd. now owns 684,725 shares of the company’s stock valued at $28,964,000 after buying an additional 78,299 shares in the last quarter. Mason Street Advisors LLC purchased a new position in shares of Worthington Industries during the second quarter valued at about $867,000. Royal Bank of Canada increased its position in shares of Worthington Industries by 2.7% in the second quarter. Royal Bank of Canada now owns 43,419 shares of the company’s stock valued at $1,837,000 after buying an additional 1,140 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of Worthington Industries by 57.7% in the second quarter. Public Employees Retirement System of Ohio now owns 19,101 shares of the company’s stock valued at $808,000 after buying an additional 6,992 shares in the last quarter. 51.72% of the stock is owned by hedge funds and other institutional investors.
Shares of Worthington Industries Inc. (NYSE:WOR) traded up 0.69% during trading on Wednesday, hitting $48.49. 273,918 shares of the company’s stock were exchanged. Worthington Industries Inc. has a 1-year low of $25.50 and a 1-year high of $49.72. The stock has a market cap of $3.02 billion, a PE ratio of 17.56 and a beta of 1.43. The stock’s 50-day moving average price is $44.10 and its 200-day moving average price is $40.65.
Worthington Industries (NYSE:WOR) last released its quarterly earnings results on Wednesday, September 28th. The company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.26. Worthington Industries had a net margin of 6.32% and a return on equity of 21.60%. The business had revenue of $737.50 million for the quarter. During the same quarter last year, the company posted $0.54 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. On average, equities analysts expect that Worthington Industries Inc. will post $3.30 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 15th will be paid a $0.20 dividend. 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 (DPR) is presently 28.99%.
Several brokerages recently issued reports on WOR. Zacks Investment Research raised shares of Worthington Industries from a “hold” rating to a “strong-buy” rating and set a $55.00 price target for the company in a report on Saturday, October 1st. Jefferies Group reissued a “hold” rating and set a $42.00 price target (up from $37.00) on shares of Worthington Industries in a report on Thursday, September 29th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Worthington Industries in a report on Thursday, June 30th. Three equities 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’s stock. Worthington Industries has a consensus rating of “Buy” and a consensus target price of $41.00.
In related news, insider Geoffrey G. Gilmore sold 11,079 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $42.73, for a total value of $473,405.67. Following the transaction, the insider now directly owns 52,469 shares in the company, valued at $2,242,000.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 32.00% of the stock is currently owned by corporate insiders.
Worthington Industries Company Profile
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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