Worthington Industries Inc. (WOR) Trading Up 1.8%
Worthington Industries Inc. (NYSE:WOR)’s share price was up 1.8% during trading on Monday . The company traded as high as $43.21 and last traded at $43.14, with a volume of 118,531 shares traded. The stock had previously closed at $42.36.
A number of equities analysts have commented on WOR shares. Zacks Investment Research upgraded shares of Worthington Industries from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Friday, June 17th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Worthington Industries in a research note on Thursday, June 30th. Finally, Jefferies Group reiterated a “hold” rating on shares of Worthington Industries in a research note on Monday, August 15th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $37.00.
The stock’s 50-day moving average price is $43.55 and its 200-day moving average price is $37.77. The firm has a market cap of $2.74 billion and a PE ratio of 19.32.
Worthington Industries (NYSE:WOR) last released its quarterly earnings results on Wednesday, June 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.28. The firm had revenue of $714.70 million for the quarter. During the same quarter in the prior year, the company earned $0.52 earnings per share. Worthington Industries’s revenue was down 15.5% compared to the same quarter last year. Analysts predict that Worthington Industries Inc. will post $2.90 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 13th. This is a boost from Worthington Industries’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.82%.
In related news, insider Geoffrey G. Gilmore sold 11,079 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $42.73, for a total value of $473,405.67. Following the sale, the insider now directly owns 52,469 shares of the company’s stock, valued at $2,242,000.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Catherine M. Lyttle sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $42.37, for a total transaction of $158,887.50. Following the completion of the sale, the vice president now directly owns 25,488 shares in the company, valued at $1,079,926.56. The disclosure for this sale can be found here.
Other large investors recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake 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. Piermont Capital Management Inc. bought a new stake in Worthington Industries during the fourth quarter valued at about $1,251,000. Finally, Dimensional Fund Advisors LP boosted its stake 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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