Worthington Industries Inc. (NYSE:WOR) – Investment analysts at Jefferies Group issued their Q2 2017 earnings per share estimates for shares of Worthington Industries in a research note issued on Thursday. Jefferies Group analyst S. Rosenfeld expects that the firm will earn $0.78 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $37.00 target price on the stock. Jefferies Group also issued estimates for Worthington Industries’ Q3 2017 earnings at $0.56 EPS, Q4 2017 earnings at $0.50 EPS and FY2018 earnings at $2.45 EPS.
WOR has been the subject of several other research reports. Zacks Investment Research raised Worthington Industries from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Wednesday, May 25th. JPMorgan Chase & Co. reaffirmed 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 a consensus rating of “Hold” and a consensus target price of $37.00.
Shares of Worthington Industries (NYSE:WOR) traded up 1.82% during trading on Monday, reaching $42.02. The company’s stock had a trading volume of 26,359 shares. Worthington Industries has a 12-month low of $21.10 and a 12-month high of $45.68. The stock’s 50-day moving average is $42.49 and its 200-day moving average is $39.40. The stock has a market cap of $2.68 billion, a P/E ratio of 18.93 and a beta of 1.50.
Worthington Industries (NYSE:WOR) last issued its earnings results on Wednesday, June 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.28. Worthington Industries had a return on equity of 18.83% and a net margin of 5.06%. The business earned $714.70 million during the quarter. During the same period in the previous year, the company earned $0.52 EPS. Worthington Industries’s revenue for the quarter was down 15.5% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Tuesday, September 13th. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.19. Worthington Industries’s payout ratio is 36.04%.
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 sale, the insider now owns 52,469 shares of the company’s stock, valued at approximately $2,242,000.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Dale T. Brinkman sold 4,188 shares of the business’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $42.10, for a total value of $176,314.80. Following the completion of the sale, the vice president now directly owns 57,336 shares of the company’s stock, valued at approximately $2,413,845.60. The disclosure for this sale can be found here. 32.00% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC raised 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 worth $114,000 after buying an additional 1,098 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in Worthington Industries during the second quarter worth $115,000. Meeder Asset Management Inc. bought a new stake in Worthington Industries during the second quarter worth $115,000. Tower Research Capital LLC TRC bought a new stake in Worthington Industries during the second quarter worth $122,000. Finally, Acrospire Investment Management LLC raised its stake in Worthington Industries by 45.5% in the second quarter. Acrospire Investment Management LLC now owns 3,200 shares of the company’s stock worth $135,000 after buying an additional 1,000 shares during the period. 50.94% of the stock is owned by institutional investors.
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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