United Services Automobile Association reduced its position in shares of Worthington Industries, Inc. (NYSE:WOR) by 32.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 9,630 shares of the industrial products company’s stock after selling 4,680 shares during the period. United Services Automobile Association’s holdings in Worthington Industries were worth $434,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in WOR. Tyers Asset Management LLC bought a new stake in shares of Worthington Industries during the fourth quarter worth $110,000. TrimTabs Asset Management LLC boosted its stake in shares of Worthington Industries by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,347 shares of the industrial products company’s stock worth $106,000 after buying an additional 1,104 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Worthington Industries by 18.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,580 shares of the industrial products company’s stock worth $170,000 after buying an additional 547 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Worthington Industries by 31.6% in the first quarter. LS Investment Advisors LLC now owns 3,977 shares of the industrial products company’s stock worth $179,000 after buying an additional 954 shares during the period. Finally, James Investment Research Inc. bought a new stake in shares of Worthington Industries during the first quarter worth $189,000. Hedge funds and other institutional investors own 54.40% of the company’s stock.
Worthington Industries, Inc. (WOR) opened at 52.70 on Friday. Worthington Industries, Inc. has a 1-year low of $39.28 and a 1-year high of $62.44. The firm has a 50-day moving average price of $47.50 and a 200-day moving average price of $46.65. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 16.73 and a beta of 1.14.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings data on Wednesday, June 28th. The industrial products company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. The business had revenue of $845.30 million for the quarter, compared to analyst estimates of $785.58 million. Worthington Industries had a return on equity of 20.59% and a net margin of 6.78%. Worthington Industries’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS. On average, analysts expect that Worthington Industries, Inc. will post $3.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.21 per share. The ex-dividend date is Tuesday, September 12th. This represents a $0.84 dividend on an annualized basis and a yield of 1.59%. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.20.
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A number of brokerages have weighed in on WOR. Jefferies Group LLC upped their price target on Worthington Industries from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Friday, June 30th. Zacks Investment Research lowered Worthington Industries from a “hold” rating to a “sell” rating in a research note on Saturday, June 3rd. BidaskClub raised Worthington Industries from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, J P Morgan Chase & Co reduced their price objective on Worthington Industries from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, April 3rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Worthington Industries has a consensus rating of “Hold” and a consensus target price of $47.33.
In related news, VP Dale T. Brinkman sold 28,212 shares of the business’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $49.50, for a total transaction of $1,396,494.00. Following the sale, the vice president now owns 71,087 shares in the company, valued at approximately $3,518,806.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sidney A. Ribeau sold 5,000 shares of the business’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $50.34, for a total value of $251,700.00. Following the sale, the director now owns 42,519 shares in the company, valued at approximately $2,140,406.46. The disclosure for this sale can be found here. Insiders own 32.00% of the company’s stock.
Worthington Industries Company Profile
Worthington Industries, Inc is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors.
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