Public Employees Retirement System of Ohio raised its stake in Worthington Industries, Inc. (NYSE:WOR) by 10.2% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 18,135 shares of the industrial products company’s stock after buying an additional 1,686 shares during the period. Public Employees Retirement System of Ohio’s holdings in Worthington Industries were worth $818,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of WOR. BlackRock Inc. boosted its stake in shares of Worthington Industries by 11,805.4% in the first quarter. BlackRock Inc. now owns 5,287,765 shares of the industrial products company’s stock worth $238,426,000 after buying an additional 5,243,350 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Worthington Industries by 33.7% in the first quarter. Bank of New York Mellon Corp now owns 1,249,841 shares of the industrial products company’s stock valued at $56,355,000 after buying an additional 315,238 shares during the last quarter. State Street Corp boosted its position in Worthington Industries by 7.8% in the first quarter. State Street Corp now owns 2,372,663 shares of the industrial products company’s stock valued at $106,987,000 after buying an additional 171,756 shares during the last quarter. FMR LLC bought a new position in Worthington Industries during the fourth quarter valued at approximately $7,116,000. Finally, JPMorgan Chase & Co. boosted its position in Worthington Industries by 14.0% in the first quarter. JPMorgan Chase & Co. now owns 997,547 shares of the industrial products company’s stock valued at $44,979,000 after buying an additional 122,526 shares during the last quarter. 54.13% of the stock is owned by institutional investors.
Shares of Worthington Industries, Inc. (NYSE:WOR) traded up 0.33% on Friday, hitting $48.23. The company had a trading volume of 358,405 shares. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 15.31 and a beta of 1.14. The company has a 50 day moving average of $50.87 and a 200-day moving average of $47.11. Worthington Industries, Inc. has a 12-month low of $39.28 and a 12-month high of $62.44.
Worthington Industries (NYSE:WOR) last posted its earnings results on Wednesday, June 28th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 6.78% and a return on equity of 20.59%. Worthington Industries’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS. On average, analysts forecast that Worthington Industries, Inc. will post $3.33 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Tuesday, September 12th. This is a boost from Worthington Industries’s previous quarterly dividend of $0.20.
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Several analysts have recently weighed in on the company. Zacks Investment Research raised Worthington Industries from a “sell” rating to a “buy” rating and set a $49.00 target price for the company in a report on Wednesday, June 7th. BidaskClub raised Worthington Industries from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Finally, Jefferies Group LLC boosted their target price on Worthington Industries from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $47.33.
In other Worthington Industries news, Director Sidney A. Ribeau sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $50.34, for a total value of $251,700.00. Following the transaction, the director now directly owns 42,519 shares of the company’s stock, valued at approximately $2,140,406.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Geoffrey G. Gilmore sold 32,500 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $50.85, for a total transaction of $1,652,625.00. Following the completion of the transaction, the insider now directly owns 86,477 shares in the company, valued at $4,397,355.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,712 shares of company stock valued at $3,300,819. 32.00% of the stock is currently owned by corporate insiders.
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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