Worthington Industries Inc. (NYSE:WOR) – Jefferies Group boosted their Q2 2017 earnings per share estimates for Worthington Industries in a report released on Wednesday. Jefferies Group analyst S. Rosenfeld now forecasts that the brokerage will post earnings per share of $0.83 for the quarter, up from their previous estimate of $0.78. Jefferies Group has a “Hold” rating and a $42.00 price objective on the stock. Jefferies Group also issued estimates for Worthington Industries’ Q3 2017 earnings at $0.61 EPS.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings results on Wednesday, September 28th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. Worthington Industries had a net margin of 5.06% and a return on equity of 18.83%. The firm earned $737.50 million during the quarter. During the same period last year, the company posted $0.54 EPS. The business’s revenue for the quarter was down 2.7% on a year-over-year basis.
Several other equities analysts have also weighed in on WOR. Zacks Investment Research lowered shares of Worthington Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Worthington Industries in a report on Thursday, June 30th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $38.25.
Shares of Worthington Industries (NYSE:WOR) traded up 1.07% during trading on Thursday, reaching $47.39. 610,674 shares of the company traded hands. The firm has a market capitalization of $3.03 billion, a PE ratio of 21.35 and a beta of 1.50. The firm has a 50-day moving average price of $42.72 and a 200-day moving average price of $39.83. Worthington Industries has a 12 month low of $25.50 and a 12 month high of $48.50.
The business 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.71%. Worthington Industries’s dividend payout ratio (DPR) is 36.04%.
In other news, VP Dale T. Brinkman sold 4,188 shares of the stock in a transaction that occurred on 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 $2,413,845.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Geoffrey G. Gilmore sold 11,079 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $42.73, for a total transaction of $473,405.67. Following the completion of the sale, the insider now directly owns 52,469 shares of the company’s stock, valued at $2,242,000.37. The disclosure for this sale can be found here. 32.00% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in Worthington Industries during the first quarter worth about $1,394,000. HBK Investments L P raised its stake in Worthington Industries by 36.2% in the first quarter. HBK Investments L P now owns 29,700 shares of the company’s stock worth $1,059,000 after buying an additional 7,900 shares during the period. Geode Capital Management LLC raised its stake in Worthington Industries by 18.7% in the first quarter. Geode Capital Management LLC now owns 359,939 shares of the company’s stock worth $12,827,000 after buying an additional 56,622 shares during the period. Goldman Sachs Group Inc. raised its stake in Worthington Industries by 256.1% in the first quarter. Goldman Sachs Group Inc. now owns 331,389 shares of the company’s stock worth $11,811,000 after buying an additional 238,324 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Worthington Industries during the first quarter worth about $280,000. 50.94% of the stock is owned by institutional investors and hedge funds.
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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