Worthington Industries, Inc. (NYSE:WOR) was the target of a large decline in short interest in October. As of October 13th, there was short interest totalling 1,327,992 shares, a decline of 46.4% from the September 29th total of 2,476,090 shares. Approximately 3.1% of the company’s stock are sold short. Based on an average daily volume of 601,119 shares, the days-to-cover ratio is presently 2.2 days.

In other news, Director Peter Karmanos sold 45,376 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $45.77, for a total value of $2,076,859.52. Following the completion of the sale, the director now owns 85,840 shares in the company, valued at approximately $3,928,896.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John G. Lamprinakos sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $44.96, for a total transaction of $337,200.00. Following the transaction, the insider now owns 70,751 shares of the company’s stock, valued at approximately $3,180,964.96. The disclosure for this sale can be found here. Insiders own 31.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Worthington Industries by 1.2% during the 2nd quarter. BlackRock Inc. now owns 5,352,354 shares of the industrial products company’s stock worth $268,796,000 after purchasing an additional 64,589 shares during the last quarter. State Street Corp grew its position in Worthington Industries by 7.8% during the 1st quarter. State Street Corp now owns 2,372,663 shares of the industrial products company’s stock worth $106,987,000 after purchasing an additional 171,756 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Worthington Industries by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,682,457 shares of the industrial products company’s stock worth $84,487,000 after purchasing an additional 17,185 shares during the last quarter. JPMorgan Chase & Co. grew its position in Worthington Industries by 10.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,098,713 shares of the industrial products company’s stock worth $55,178,000 after purchasing an additional 101,166 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in Worthington Industries by 20.9% during the 2nd quarter. Voya Investment Management LLC now owns 1,040,954 shares of the industrial products company’s stock worth $52,277,000 after purchasing an additional 180,199 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors.

Several research analysts recently commented on WOR shares. BidaskClub lowered shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research lowered shares of Worthington Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Finally, ValuEngine lowered shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $46.50.

Worthington Industries (NYSE:WOR) opened at $45.00 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.36 and a current ratio of 2.14. The company has a market cap of $2,833.70, a P/E ratio of 15.52, a P/E/G ratio of 3.46 and a beta of 1.14. Worthington Industries has a 52 week low of $40.82 and a 52 week high of $62.44.

Worthington Industries (NYSE:WOR) last posted 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 firm had revenue of $848.24 million for the quarter, compared to the consensus estimate of $854.20 million. Worthington Industries had a return on equity of 17.98% and a net margin of 5.90%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. analysts forecast that Worthington Industries will post 3.1 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, December 14th. Worthington Industries’s dividend payout ratio is presently 29.58%.

Worthington Industries announced that its board has authorized a stock repurchase program on Wednesday, September 27th that authorizes the company to buyback 6,830,000 outstanding shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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Worthington Industries Company 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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