ProShare Advisors LLC Decreases Position in Worthington Industries, Inc. (WOR)
ProShare Advisors LLC cut its position in shares of Worthington Industries, Inc. (NYSE:WOR) by 19.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,743 shares of the industrial products company’s stock after selling 2,404 shares during the quarter. ProShare Advisors LLC’s holdings in Worthington Industries were worth $489,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Worthington Industries by 0.3% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 7,571 shares of the industrial products company’s stock worth $341,000 after buying an additional 20 shares in the last quarter. First Mercantile Trust Co. grew its holdings in shares of Worthington Industries by 2.0% during the second quarter. First Mercantile Trust Co. now owns 3,070 shares of the industrial products company’s stock worth $154,000 after buying an additional 60 shares in the last quarter. Capstone Asset Management Co. grew its holdings in shares of Worthington Industries by 3.1% during the second quarter. Capstone Asset Management Co. now owns 5,633 shares of the industrial products company’s stock worth $283,000 after buying an additional 170 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Worthington Industries by 4.9% during 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 in the last quarter. Finally, Advantus Capital Management Inc grew its holdings in shares of Worthington Industries by 3.3% during the first quarter. Advantus Capital Management Inc now owns 5,625 shares of the industrial products company’s stock worth $254,000 after buying an additional 180 shares in the last quarter. Institutional investors and hedge funds own 51.96% of the company’s stock.
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In other news, insider Geoffrey G. Gilmore sold 32,500 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $50.85, for a total value of $1,652,625.00. Following the completion of the transaction, the insider now directly owns 86,477 shares of the company’s stock, valued at $4,397,355.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 31.30% of the company’s stock.
Worthington Industries, Inc. (NYSE WOR) opened at 43.72 on Friday. Worthington Industries, Inc. has a 1-year low of $40.82 and a 1-year high of $62.44. The firm has a 50-day moving average price of $49.17 and a 200-day moving average price of $47.04. The company has a market capitalization of $2.77 billion, a P/E ratio of 13.88 and a beta of 1.14.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings data on Wednesday, September 27th. The industrial products company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.09). The company had revenue of $848.24 million during the quarter, compared to analysts’ expectations of $854.20 million. Worthington Industries had a return on equity of 17.98% and a net margin of 5.90%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. On average, analysts forecast that Worthington Industries, Inc. will post $3.10 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, December 14th. Worthington Industries’s dividend payout ratio (DPR) is presently 29.58%.
Worthington Industries declared that its board has initiated a stock repurchase plan on Wednesday, September 27th that allows the company to repurchase 6,830,000 shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts recently issued reports on the company. ValuEngine downgraded Worthington Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Zacks Investment Research downgraded Worthington Industries from a “hold” rating to a “sell” rating in a research note on Saturday, September 30th. BidaskClub downgraded Worthington Industries from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $45.00 price target on shares of Worthington Industries in a research note on Wednesday, June 14th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $46.50.
Worthington Industries 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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