Worthington Industries, Inc. (WOR) Position Trimmed by OxFORD Asset Management LLP
OxFORD Asset Management LLP trimmed its holdings in shares of Worthington Industries, Inc. (NYSE:WOR) by 66.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,455 shares of the industrial products company’s stock after selling 60,693 shares during the period. OxFORD Asset Management LLP’s holdings in Worthington Industries were worth $1,399,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ acquired a new position in Worthington Industries during the third quarter valued at $2,328,000. Hillsdale Investment Management Inc. acquired a new position in Worthington Industries during the third quarter valued at $1,012,000. Schwab Charles Investment Management Inc. raised its position in Worthington Industries by 4.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 376,211 shares of the industrial products company’s stock valued at $17,306,000 after buying an additional 15,313 shares during the period. Barings LLC raised its position in Worthington Industries by 92.3% during the third 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. Finally, Wells Fargo & Company MN raised its position in Worthington Industries by 74.3% during the third quarter. Wells Fargo & Company MN now owns 113,141 shares of the industrial products company’s stock valued at $5,205,000 after buying an additional 48,238 shares during the period. 52.48% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on WOR. ValuEngine lowered Worthington Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Zacks Investment Research downgraded Worthington Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $46.50.
Worthington Industries, Inc. (NYSE WOR) opened at $43.36 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.14 and a quick ratio of 1.36. Worthington Industries, Inc. has a 52 week low of $39.52 and a 52 week high of $55.85. The company has a market capitalization of $2,653.60, a PE ratio of 14.53, a price-to-earnings-growth ratio of 3.29 and a beta of 1.10.
Worthington Industries (NYSE:WOR) last issued its earnings results on Wednesday, September 27th. The industrial products company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.09). Worthington Industries had a net margin of 5.90% and a return on equity of 17.98%. The firm had revenue of $848.24 million during the quarter, compared to analysts’ expectations of $854.20 million. During the same quarter last year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. equities research analysts forecast that Worthington Industries, Inc. will post 3.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.84 dividend on an annualized basis and a yield of 1.94%. Worthington Industries’s dividend payout ratio (DPR) is currently 29.58%.
Worthington Industries announced that its board has initiated a stock repurchase program on Wednesday, September 27th that authorizes the company to buyback 6,830,000 shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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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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