Worthington Industries Inc. (WOR) Stock Price Up 1.8%
Worthington Industries Inc. (NYSE:WOR) rose 1.8% on Monday . The company traded as high as $43.21 and last traded at $43.14, with a volume of 118,531 shares changing hands. The stock had previously closed at $42.36.
A number of research analysts have commented on the company. Zacks Investment Research raised Worthington Industries from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Wednesday, May 25th. Jefferies Group reaffirmed a “hold” rating and set a $37.00 price target (up previously from $33.00) on shares of Worthington Industries in a research report on Friday, June 10th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Worthington Industries in a research report on Thursday, June 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.00.
The stock has a 50-day moving average of $43.49 and a 200 day moving average of $37.45. The stock has a market capitalization of $2.78 billion and a PE ratio of 19.61.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings data on Wednesday, June 29th. The company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.28. The firm had revenue of $714.70 million for the quarter. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period last year, the firm posted $0.52 EPS. On average, equities research analysts expect that Worthington Industries Inc. will post $2.90 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.20 per share. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.84%.
In related news, insider Geoffrey G. Gilmore sold 11,079 shares of Worthington Industries 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 transaction, the insider now owns 52,469 shares in the company, valued at $2,242,000.37. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Dale T. Brinkman sold 4,188 shares of Worthington Industries stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $42.10, for a total value of $176,314.80. Following the completion of the transaction, the vice president now 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.
A number of hedge funds and institutional investors recently added to or reduced their stakes in WOR. Piermont Capital Management Inc. bought a new position in Worthington Industries during the fourth quarter valued at approximately $1,251,000. Bank of Montreal Can raised its position in Worthington Industries by 20.6% in the fourth quarter. Bank of Montreal Can now owns 65,858 shares of the company’s stock valued at $1,986,000 after buying an additional 11,258 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Worthington Industries by 6.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,836,571 shares of the company’s stock valued at $55,355,000 after buying an additional 114,027 shares in the last quarter.
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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