Deutsche Bank AG Boosts Position in Worthington Industries, Inc. (WOR)
Deutsche Bank AG increased its position in shares of Worthington Industries, Inc. (NYSE:WOR) by 20.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 167,665 shares of the industrial products company’s stock after buying an additional 27,998 shares during the quarter. Deutsche Bank AG’s holdings in Worthington Industries were worth $5,839,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of WOR. Bank of Montreal Can raised its stake in shares of Worthington Industries by 12.5% in the fourth quarter. Bank of Montreal Can now owns 3,250 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 360 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Worthington Industries in the fourth quarter worth approximately $119,000. Clean Yield Group purchased a new stake in shares of Worthington Industries in the fourth quarter worth approximately $142,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Worthington Industries in the fourth quarter worth approximately $174,000. Finally, Raymond James & Associates grew its holdings in shares of Worthington Industries by 26.1% in the fourth quarter. Raymond James & Associates now owns 6,285 shares of the industrial products company’s stock valued at $219,000 after acquiring an additional 1,300 shares in the last quarter. 49.73% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised Worthington Industries from a “sell” rating to a “hold” rating in a report on Thursday, April 4th.
Worthington Industries (NYSE:WOR) last released its earnings results on Wednesday, March 20th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.06. The company had revenue of $874.38 million during the quarter, compared to analyst estimates of $927.32 million. Worthington Industries had a return on equity of 18.38% and a net margin of 3.81%. Analysts anticipate that Worthington Industries, Inc. will post 2.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, June 13th. Worthington Industries’s dividend payout ratio is presently 31.94%.
In other news, Director Sidney A. Ribeau sold 9,750 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $40.41, for a total value of $393,997.50. Following the completion of the transaction, the director now directly owns 52,369 shares of the company’s stock, valued at $2,116,231.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 33.20% of the company’s stock.
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About Worthington Industries
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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