First Trust Advisors LP cut its stake in Worthington Industries, Inc. (NYSE:WOR) by 14.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,188 shares of the industrial products company’s stock after selling 11,700 shares during the quarter. First Trust Advisors LP owned approximately 0.11% of Worthington Industries worth $2,820,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of Montreal Can purchased a new stake in shares of Worthington Industries during the 2nd quarter worth $119,000. Fox Run Management L.L.C. purchased a new stake in shares of Worthington Industries during the 2nd quarter worth $251,000. Xact Kapitalforvaltning AB lifted its position in Worthington Industries by 67.8% in the first quarter. Xact Kapitalforvaltning AB now owns 8,416 shares of the industrial products company’s stock valued at $361,000 after acquiring an additional 3,400 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in Worthington Industries by 52.8% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 8,948 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 3,093 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in Worthington Industries in the second quarter valued at $408,000. 50.56% of the stock is currently owned by institutional investors and hedge funds.
In other Worthington Industries news, Director Sidney A. Ribeau sold 8,200 shares of the stock in a transaction that occurred on Friday, June 29th. The shares were sold at an average price of $42.42, for a total transaction of $347,844.00. Following the transaction, the director now owns 48,119 shares of the company’s stock, valued at $2,041,207.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Terrence M. Dyer sold 14,551 shares of the stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $46.81, for a total transaction of $681,132.31. Following the transaction, the vice president now directly owns 18,491 shares in the company, valued at approximately $865,563.71. The disclosure for this sale can be found here. Insiders sold 122,751 shares of company stock worth $5,628,976 over the last quarter. Company insiders own 31.30% of the company’s stock.
A number of equities research analysts recently weighed in on WOR shares. ValuEngine raised shares of Worthington Industries from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Zacks Investment Research raised shares of Worthington Industries from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Saturday, June 30th.
Shares of Worthington Industries stock opened at $43.91 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.22 and a debt-to-equity ratio of 0.72. Worthington Industries, Inc. has a 52-week low of $39.52 and a 52-week high of $52.66. The stock has a market cap of $2.62 billion, a PE ratio of 15.25 and a beta of 0.99.
Worthington Industries (NYSE:WOR) last issued its earnings results on Wednesday, June 27th. The industrial products company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.09). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $935.50 million. Worthington Industries had a return on equity of 17.39% and a net margin of 5.44%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 earnings per share. equities analysts anticipate that Worthington Industries, Inc. will post 3.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a $0.23 dividend. The ex-dividend date is Thursday, September 13th. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.10%. Worthington Industries’s dividend payout ratio is currently 29.17%.
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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