Worthington Industries (NYSE:WOR) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Worthington Industries (NYSE:WOR – Get Rating) in a report published on Thursday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Worthington Industries Price Performance

Shares of NYSE WOR opened at $52.12 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.43 and a quick ratio of 1.43. The stock has a fifty day moving average price of $57.43 and a 200 day moving average price of $52.65. Worthington Industries has a 1-year low of $38.01 and a 1-year high of $63.10. The company has a market cap of $2.59 billion, a PE ratio of 11.98 and a beta of 1.25.

Worthington Industries (NYSE:WOR – Get Rating) last issued its quarterly earnings results on Tuesday, December 20th. The industrial products company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.12). Worthington Industries had a return on equity of 14.58% and a net margin of 3.96%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.19 billion. Sell-side analysts forecast that Worthington Industries will post 4.18 EPS for the current year.

Worthington Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 29th. Investors of record on Wednesday, March 15th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Tuesday, March 14th. Worthington Industries’s dividend payout ratio is presently 28.51%.

Insider Buying and Selling

In other Worthington Industries news, CEO B Andrew Rose sold 18,229 shares of the firm’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $59.48, for a total value of $1,084,260.92. Following the completion of the sale, the chief executive officer now owns 503,839 shares of the company’s stock, valued at $29,968,343.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Worthington Industries news, CEO B Andrew Rose sold 18,229 shares of the firm’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $59.48, for a total value of $1,084,260.92. Following the completion of the sale, the chief executive officer now owns 503,839 shares of the company’s stock, valued at $29,968,343.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric M. Smolenski sold 2,000 shares of the firm’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $55.30, for a total value of $110,600.00. Following the completion of the sale, the insider now directly owns 93,413 shares of the company’s stock, valued at approximately $5,165,738.90. The disclosure for this sale can be found here. Corporate insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Worthington Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of WOR. BlackRock Inc. increased its position in shares of Worthington Industries by 13.0% in the first quarter. BlackRock Inc. now owns 4,571,279 shares of the industrial products company’s stock valued at $235,012,000 after buying an additional 526,776 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Worthington Industries by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,328,906 shares of the industrial products company’s stock valued at $171,139,000 after buying an additional 12,047 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Worthington Industries by 5.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,243,301 shares of the industrial products company’s stock valued at $111,514,000 after buying an additional 121,771 shares in the last quarter. State Street Corp increased its position in shares of Worthington Industries by 18.1% in the first quarter. State Street Corp now owns 2,010,543 shares of the industrial products company’s stock valued at $103,362,000 after buying an additional 307,667 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Worthington Industries by 28.6% in the third quarter. Victory Capital Management Inc. now owns 1,870,426 shares of the industrial products company’s stock valued at $71,338,000 after buying an additional 415,442 shares in the last quarter. Institutional investors and hedge funds own 45.30% of the company’s stock.

About Worthington Industries

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Worthington Industries, Inc engages in processing of value-added steel and manufacturing of metal products. It operates through the following segments: Steel Processing and Pressure Cylinders. The Steel Processing segment consists of Worthington Steel business unit and consolidated joint ventures, which operates steel business and its prices.