Capstone Asset Management Co. Buys 170 Shares of Worthington Industries, Inc. (WOR)
Capstone Asset Management Co. increased its stake in shares of Worthington Industries, Inc. (NYSE:WOR) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 5,633 shares of the industrial products company’s stock after buying an additional 170 shares during the period. Capstone Asset Management Co.’s holdings in Worthington Industries were worth $283,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC raised its stake in Worthington Industries by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,347 shares of the industrial products company’s stock worth $106,000 after buying an additional 1,104 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Worthington Industries by 67.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,424 shares of the industrial products company’s stock worth $109,000 after buying an additional 980 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Worthington Industries by 4.9% in the first quarter. Envestnet Asset Management Inc. now owns 3,755 shares of the industrial products company’s stock worth $168,000 after buying an additional 175 shares during the last quarter. LS Investment Advisors LLC raised its stake in Worthington Industries by 31.6% in the first quarter. LS Investment Advisors LLC now owns 3,977 shares of the industrial products company’s stock worth $179,000 after buying an additional 954 shares during the last quarter. Finally, James Investment Research Inc. acquired a new stake in Worthington Industries during the first quarter worth $189,000. Institutional investors own 54.13% of the company’s stock.
Shares of Worthington Industries, Inc. (NYSE WOR) traded down 1.58% during midday trading on Tuesday, reaching $49.24. The company’s stock had a trading volume of 73,789 shares. The stock’s 50-day moving average price is $50.61 and its 200-day moving average price is $47.07. Worthington Industries, Inc. has a 12-month low of $39.28 and a 12-month high of $62.44. The company has a market cap of $3.11 billion, a P/E ratio of 15.63 and a beta of 1.14.
Worthington Industries (NYSE:WOR) last released its quarterly earnings data on Wednesday, June 28th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.04. The business 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 quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 EPS. On average, analysts expect that Worthington Industries, Inc. will post $3.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.21 per share. This is a boost from Worthington Industries’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Tuesday, September 12th.
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A number of research firms have weighed in on WOR. BidaskClub lowered Worthington Industries from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Jefferies Group LLC reissued a “hold” rating and set a $45.00 price target on shares of Worthington Industries in a research report on Wednesday, June 14th. Finally, Zacks Investment Research downgraded Worthington Industries from a “hold” rating to a “sell” rating in a research report on Saturday, June 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $47.33.
In other Worthington Industries news, VP Dale T. Brinkman sold 28,212 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $49.50, for a total transaction of $1,396,494.00. Following the completion of the sale, the vice president now directly owns 71,087 shares of the company’s stock, valued at approximately $3,518,806.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Geoffrey G. Gilmore sold 32,500 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $50.85, for a total value of $1,652,625.00. Following the sale, the insider now directly owns 86,477 shares of the company’s stock, valued at $4,397,355.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,712 shares of company stock valued at $3,300,819. Insiders own 32.00% of the company’s stock.
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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