Worthington Industries Target of Unusually High Options Trading (NYSE:WOR)
Worthington Industries, Inc. (NYSE:WOR) was the recipient of some unusual options trading activity on Friday. Traders bought 255 put options on the company. This represents an increase of 124% compared to the typical daily volume of 114 put options.
In other Worthington Industries news, VP Dale T. Brinkman sold 28,212 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $49.50, for a total transaction of $1,396,494.00. Following the sale, the vice president now directly owns 71,087 shares of the company’s stock, valued at $3,518,806.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sidney A. Ribeau sold 5,000 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $50.34, for a total transaction of $251,700.00. Following the sale, the director now directly owns 42,519 shares in the company, valued at $2,140,406.46. The disclosure for this sale can be found here. Corporate insiders own 32.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in shares of Worthington Industries during the fourth quarter worth about $929,000. Comerica Bank boosted its position in shares of Worthington Industries by 5.6% in the fourth quarter. Comerica Bank now owns 33,689 shares of the industrial products company’s stock worth $1,579,000 after buying an additional 1,774 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Worthington Industries by 4.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,043 shares of the industrial products company’s stock worth $287,000 after buying an additional 279 shares during the last quarter. FMR LLC bought a new position in shares of Worthington Industries during the fourth quarter worth about $7,116,000. Finally, Credit Agricole S A boosted its position in shares of Worthington Industries by 28.4% in the fourth quarter. Credit Agricole S A now owns 7,093 shares of the industrial products company’s stock worth $336,000 after buying an additional 1,571 shares during the last quarter. 54.50% of the stock is owned by institutional investors.
WOR has been the topic of a number of research reports. Zacks Investment Research raised shares of Worthington Industries from a “sell” rating to a “hold” rating in a report on Tuesday, April 4th. Jefferies Group LLC reissued a “sell” rating and set a $45.00 target price on shares of Worthington Industries in a report on Wednesday, March 29th. J P Morgan Chase & Co dropped their target price on shares of Worthington Industries from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, April 3rd. Macquarie raised shares of Worthington Industries from an “underperform” rating to a “neutral” rating in a report on Tuesday, March 14th. Finally, BidaskClub raised shares of Worthington Industries from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $47.33.
Shares of Worthington Industries (NYSE:WOR) opened at 50.61 on Friday. The company has a 50 day moving average of $43.79 and a 200-day moving average of $46.70. Worthington Industries has a 12-month low of $39.28 and a 12-month high of $62.44. The firm has a market cap of $3.18 billion, a PE ratio of 16.07 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.04. The company had revenue of $845.30 million during the quarter, compared to analysts’ expectations of $785.58 million. Worthington Industries had a return on equity of 20.59% and a net margin of 6.78%. The business’s revenue was up 18.3% on a year-over-year basis. During the same period last year, the business earned $0.87 earnings per share. Equities research analysts forecast that Worthington Industries will post $3.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, September 12th. This is a boost from Worthington Industries’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.66%.
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About Worthington Industries
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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