Smith Graham & Co. Investment Advisors LP Has $7.60 Million Holdings in Worthington Industries, Inc. (WOR)
Smith Graham & Co. Investment Advisors LP raised its holdings in Worthington Industries, Inc. (NYSE:WOR) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 172,453 shares of the industrial products company’s stock after purchasing an additional 3,330 shares during the period. Smith Graham & Co. Investment Advisors LP’s holdings in Worthington Industries were worth $7,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also made changes to their positions in WOR. Macquarie Group Ltd. increased its holdings in Worthington Industries by 34.4% in the 2nd quarter. Macquarie Group Ltd. now owns 944,571 shares of the industrial products company’s stock valued at $47,436,000 after buying an additional 241,576 shares during the period. Prudential Financial Inc. increased its holdings in Worthington Industries by 23.9% in the 3rd quarter. Prudential Financial Inc. now owns 948,446 shares of the industrial products company’s stock valued at $43,629,000 after buying an additional 182,962 shares during the period. Voya Investment Management LLC increased its holdings in Worthington Industries by 20.9% in the 2nd quarter. Voya Investment Management LLC now owns 1,040,954 shares of the industrial products company’s stock valued at $52,277,000 after buying an additional 180,199 shares during the period. OxFORD Asset Management LLP bought a new stake in Worthington Industries in the 2nd quarter valued at $4,577,000. Finally, Barings LLC increased its holdings in Worthington Industries by 92.3% in the 3rd quarter. Barings LLC now owns 180,870 shares of the industrial products company’s stock valued at $8,320,000 after buying an additional 86,800 shares during the period. 52.82% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Peter Karmanos sold 45,376 shares of the business’s stock in a transaction on 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 sale, the director now owns 85,840 shares in the company, valued at approximately $3,928,896.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.30% of the stock is currently owned by insiders.
Worthington Industries (NYSE:WOR) last issued its earnings results on Tuesday, December 19th. The industrial products company reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). Worthington Industries had a net margin of 5.43% and a return on equity of 17.07%. The firm had revenue of $871.30 million during the quarter, compared to analyst estimates of $823.50 million. During the same quarter in the prior year, the firm posted $0.75 EPS. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. sell-side analysts expect that Worthington Industries, Inc. will post 3.08 earnings per share for the current fiscal year.
Worthington Industries announced that its Board of Directors has approved a stock buyback plan on Wednesday, September 27th that permits the company to repurchase 6,830,000 outstanding shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.74%. Worthington Industries’s dividend payout ratio is presently 30.66%.
Several brokerages have issued reports on WOR. Zacks Investment Research raised shares of Worthington Industries from a “sell” rating to a “hold” rating in a report on Saturday, December 23rd. ValuEngine lowered shares of Worthington Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $46.50.
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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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