Wedge Capital Management L L P NC boosted its stake in shares of Worthington Industries, Inc. (NYSE:WOR) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,187 shares of the industrial products company’s stock after purchasing an additional 451 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Worthington Industries were worth $306,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Texas Permanent School Fund raised its stake in Worthington Industries by 1.3% during the 1st quarter. Texas Permanent School Fund now owns 26,658 shares of the industrial products company’s stock valued at $995,000 after purchasing an additional 330 shares during the last quarter. Bank of Montreal Can increased its holdings in Worthington Industries by 12.5% in the 4th quarter. Bank of Montreal Can now owns 3,250 shares of the industrial products company’s stock valued at $113,000 after buying an additional 360 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Worthington Industries by 5.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 15,351 shares of the industrial products company’s stock valued at $535,000 after buying an additional 845 shares during the period. American Research & Management Co. bought a new stake in shares of Worthington Industries in the 1st quarter worth about $37,000. Finally, Legal & General Group Plc lifted its position in Worthington Industries by 2.3% during the 4th quarter. Legal & General Group Plc now owns 54,155 shares of the industrial products company’s stock valued at $1,887,000 after purchasing an additional 1,222 shares during the period. Hedge funds and other institutional investors own 50.04% of the company’s stock.
In related news, Director Mark C. Davis sold 14,985 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $39.57, for a total value of $592,956.45. Following the sale, the director now directly owns 35,165 shares in the company, valued at $1,391,479.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sidney A. Ribeau sold 9,750 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $40.41, for a total value of $393,997.50. Following the completion of the sale, the director now owns 52,369 shares in the company, valued at $2,116,231.29. The disclosure for this sale can be found here. Insiders own 33.20% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Worthington Industries from a “sell” rating to a “hold” rating in a report on Thursday, April 4th.
WOR stock traded down $0.85 during midday trading on Friday, reaching $36.77. The company had a trading volume of 201 shares, compared to its average volume of 168,155. The company has a market cap of $2.17 billion, a PE ratio of 13.06 and a beta of 1.02. Worthington Industries, Inc. has a 1-year low of $31.42 and a 1-year high of $49.65. The company has a quick ratio of 1.27, a current ratio of 2.13 and a debt-to-equity ratio of 0.77.
Worthington Industries (NYSE:WOR) last posted its quarterly earnings results on Wednesday, March 20th. The industrial products company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.06. The business had revenue of $874.38 million during the quarter, compared to the consensus estimate of $927.32 million. Worthington Industries had a return on equity of 18.38% and a net margin of 3.81%. On average, analysts anticipate that Worthington Industries, Inc. will post 2.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, June 13th. Worthington Industries’s dividend payout ratio is presently 31.94%.
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Worthington Industries Company Profile
Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.
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