Worthington Industries Inc. (NYSE:WOR) – Investment analysts at KeyCorp increased their Q2 2017 earnings estimates for shares of Worthington Industries in a research report issued on Wednesday. KeyCorp analyst P. Gibbs now anticipates that the brokerage will post earnings of $0.70 per share for the quarter, up from their prior forecast of $0.60. KeyCorp also issued estimates for Worthington Industries’ Q3 2017 earnings at $0.60 EPS, Q4 2017 earnings at $0.80 EPS and FY2017 earnings at $3.13 EPS.
Several other research analysts also recently commented on the company. Jefferies Group restated a “hold” rating and issued 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 Saturday, June 4th. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Worthington Industries in a research note on Thursday, June 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $38.25.
Worthington Industries (NYSE:WOR) traded up 1.9350% during midday trading on Friday, reaching $48.1439. 293,522 shares of the company traded hands. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 17.4308 and a beta of 1.50. Worthington Industries has a one year low of $25.50 and a one year high of $48.50. The firm has a 50-day moving average price of $42.86 and a 200-day moving average price of $39.88.
Worthington Industries (NYSE:WOR) last posted its quarterly earnings data on Wednesday, September 28th. The company reported $1.03 earnings per share for the quarter, topping 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 22.46%. The business earned $737.50 million during the quarter. During the same period in the prior year, the company earned $0.54 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year.
Several hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in shares of Worthington Industries during the first quarter worth about $1,028,000. Pacad Investment Ltd. purchased a new stake in Worthington Industries during the first quarter worth $403,000. TIAA CREF Investment Management LLC increased its stake in Worthington Industries by 2.3% in the first quarter. TIAA CREF Investment Management LLC now owns 251,567 shares of the company’s stock worth $8,966,000 after buying an additional 5,707 shares during the last quarter. Teachers Advisors Inc. increased 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 worth $4,193,000 after buying an additional 601 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in Worthington Industries by 17.9% in the first quarter. BlackRock Group LTD now owns 54,033 shares of the company’s stock worth $1,926,000 after buying an additional 8,216 shares during the last quarter. Hedge funds and other institutional investors own 50.94% of the company’s stock.
In other news, VP Catherine M. Lyttle sold 3,750 shares of Worthington Industries stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $42.37, for a total transaction of $158,887.50. Following the completion of the sale, the vice president now owns 25,488 shares in the company, valued at approximately $1,079,926.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Geoffrey G. Gilmore sold 11,079 shares of Worthington Industries 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 sale, the insider now owns 52,469 shares of the company’s stock, valued at approximately $2,242,000.37. The disclosure for this sale can be found here. Insiders own 32.00% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, December 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.69%. Worthington Industries’s dividend payout ratio (DPR) is presently 28.99%.
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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