Worthington Industries, Inc. (NYSE:WOR) saw a large increase in short interest in July. As of July 15th, there was short interest totalling 1,610,000 shares, an increase of 26.8% from the June 30th total of 1,270,000 shares. Approximately 4.6% of the shares of the company are short sold. Based on an average trading volume of 442,400 shares, the days-to-cover ratio is currently 3.6 days.
WOR has been the subject of several research reports. Zacks Investment Research upgraded Worthington Industries from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. ValuEngine raised Worthington Industries from a “sell” rating to a “hold” rating in a research note on Friday, July 3rd. Four analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average target price of $31.50.
Shares of NYSE WOR opened at $37.42 on Friday. The business’s 50-day moving average price is $35.98 and its two-hundred day moving average price is $31.81. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.53 and a quick ratio of 1.49. Worthington Industries has a one year low of $19.28 and a one year high of $44.69. The company has a market capitalization of $2.11 billion, a P/E ratio of 26.73 and a beta of 1.26.
Worthington Industries (NYSE:WOR) last announced its quarterly earnings results on Thursday, June 25th. The industrial products company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.23. Worthington Industries had a return on equity of 14.13% and a net margin of 2.58%. The company had revenue of $611.60 million during the quarter, compared to analysts’ expectations of $653.00 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was down 34.9% compared to the same quarter last year. On average, equities analysts anticipate that Worthington Industries will post 1.95 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a $0.25 dividend. The ex-dividend date is Monday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.67%. This is a boost from Worthington Industries’s previous quarterly dividend of $0.24. Worthington Industries’s payout ratio is currently 40.85%.
Large investors have recently made changes to their positions in the business. Aigen Investment Management LP lifted its position in shares of Worthington Industries by 16,214.3% in the first quarter. Aigen Investment Management LP now owns 1,142 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,135 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in shares of Worthington Industries during the 1st quarter worth about $32,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Worthington Industries by 30.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,369 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 788 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Worthington Industries by 34.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,537 shares of the industrial products company’s stock worth $169,000 after purchasing an additional 1,168 shares during the last quarter. Finally, IndexIQ Advisors LLC acquired a new position in shares of Worthington Industries during the 1st quarter worth about $184,000. 45.90% of the stock is owned by institutional investors.
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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