State Treasurer State of Michigan decreased its holdings in Worthington Industries, Inc. (NYSE:WOR) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,378 shares of the industrial products company’s stock after selling 600 shares during the period. State Treasurer State of Michigan’s holdings in Worthington Industries were worth $501,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Bank of Montreal Can raised its stake in Worthington Industries by 12.5% in the fourth quarter. Bank of Montreal Can now owns 3,250 shares of the industrial products company’s stock worth $113,000 after buying an additional 360 shares in the last quarter. Dupont Capital Management Corp bought a new position in Worthington Industries in the fourth quarter worth approximately $119,000. Clean Yield Group bought a new position in Worthington Industries in the fourth quarter worth approximately $142,000. Commonwealth Bank of Australia bought a new position in Worthington Industries in the third quarter worth approximately $212,000. Finally, Jane Street Group LLC bought a new position in Worthington Industries in the third quarter worth approximately $222,000. 51.41% of the stock is owned by institutional investors.
WOR has been the subject of a number of recent research reports. ValuEngine downgraded shares of Worthington Industries from a “hold” rating to a “sell” rating in a research note on Friday, December 7th. Zacks Investment Research downgraded shares of Worthington Industries from a “hold” rating to a “sell” rating in a research note on Saturday, December 1st.
Shares of WOR stock opened at $38.93 on Friday. The firm has a market cap of $2.17 billion, a PE ratio of 13.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.27 and a current ratio of 2.16. Worthington Industries, Inc. has a 12-month low of $31.42 and a 12-month high of $49.65.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings results on Tuesday, December 18th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). The business had revenue of $958.20 million for the quarter, compared to analyst estimates of $982.10 million. Worthington Industries had a return on equity of 18.10% and a net margin of 5.22%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share. On average, analysts predict that Worthington Industries, Inc. will post 2.86 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Thursday, March 14th. Worthington Industries’s payout ratio is presently 31.94%.
In other Worthington Industries news, Director John B. Blystone purchased 25,000 shares of Worthington Industries stock in a transaction dated Wednesday, December 19th. The shares were acquired at an average cost of $36.67 per share, with a total value of $916,750.00. Following the completion of the transaction, the director now owns 164,370 shares in the company, valued at approximately $6,027,447.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 33.20% of the company’s stock.
Worthington Industries Company Profile
Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.
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