Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Worthington Industries Inc. (NYSE:WOR) during the second quarter, Holdings Channel reports. The firm bought 15,245 shares of the company’s stock, valued at approximately $645,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. raised 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 last quarter. State Street Corp raised 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 last quarter. Acadian Asset Management LLC purchased a new position in Worthington Industries during the first quarter valued at approximately $1,028,000. BlackRock Group LTD raised 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 last quarter. Finally, Teachers Advisors Inc. raised 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 last quarter. 50.94% of the stock is owned by hedge funds and other institutional investors.
Worthington Industries Inc. (NYSE:WOR) traded up 2.67% during mid-day trading on Wednesday, hitting $42.37. The stock had a trading volume of 179,337 shares. The firm’s 50-day moving average price is $42.49 and its 200 day moving average price is $39.40. Worthington Industries Inc. has a one year low of $21.10 and a one year high of $45.68. The company has a market cap of $2.71 billion, a PE ratio of 19.09 and a beta of 1.50.
Worthington Industries (NYSE:WOR) last posted its quarterly earnings data on Wednesday, June 29th. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.28. Worthington Industries had a return on equity of 18.83% and a net margin of 5.06%. The firm earned $714.70 million during the quarter. During the same period in the prior year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, equities research analysts anticipate that Worthington Industries Inc. will post $2.84 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be paid a $0.20 dividend. This is an increase from Worthington Industries’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.94%. The ex-dividend date is Tuesday, September 13th. Worthington Industries’s dividend payout ratio is currently 36.04%.
Several research firms have commented on WOR. Zacks Investment Research lowered shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th. Jefferies Group reiterated a “hold” rating and set a $37.00 target price (up from $33.00) on shares of Worthington Industries in a research report on Friday, June 10th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Worthington Industries in a research report on Thursday, June 30th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $37.00.
In related news, VP Dale T. Brinkman sold 4,188 shares of the stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $42.10, for a total value of $176,314.80. Following the completion of the transaction, the vice president now directly owns 57,336 shares of the company’s stock, valued at approximately $2,413,845.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Catherine M. Lyttle sold 3,750 shares of the stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $42.37, for a total value of $158,887.50. Following the completion of the transaction, the vice president now directly owns 25,488 shares of the company’s stock, valued at $1,079,926.56. The disclosure for this sale can be found here. 32.00% of the stock is owned by corporate 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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