Itau Unibanco Holding S.A. lifted its stake in shares of Worthington Industries, Inc. (NYSE:WOR) by 126.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,420 shares of the industrial products company’s stock after purchasing an additional 1,351 shares during the period. Itau Unibanco Holding S.A.’s holdings in Worthington Industries were worth $102,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Bank of Montreal Can purchased a new position in Worthington Industries in the 2nd quarter valued at approximately $119,000. Meadow Creek Investment Management LLC grew its stake in Worthington Industries by 37.4% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 4,176 shares of the industrial products company’s stock valued at $175,000 after buying an additional 1,136 shares in the last quarter. Tiverton Asset Management LLC purchased a new position in Worthington Industries in the 2nd quarter valued at approximately $205,000. Neuburgh Advisers LLC grew its stake in Worthington Industries by 37.4% in the 2nd quarter. Neuburgh Advisers LLC now owns 5,742 shares of the industrial products company’s stock valued at $241,000 after buying an additional 1,562 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Worthington Industries in the 2nd quarter valued at approximately $251,000. Institutional investors own 50.56% of the company’s stock.

Worthington Industries stock opened at $43.91 on Friday. Worthington Industries, Inc. has a 1-year low of $39.52 and a 1-year high of $52.66. The company has a market capitalization of $2.62 billion, a P/E ratio of 15.25 and a beta of 0.99. The company has a quick ratio of 1.22, a current ratio of 1.92 and a debt-to-equity ratio of 0.72.

Worthington Industries (NYSE:WOR) last released its quarterly earnings data on Wednesday, June 27th. The industrial products company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.09). Worthington Industries had a net margin of 5.44% and a return on equity of 17.39%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $935.50 million. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. sell-side analysts forecast that Worthington Industries, Inc. will post 3.39 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.10%. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, September 13th. Worthington Industries’s payout ratio is currently 29.17%.

In other Worthington Industries news, Director Sidney A. Ribeau sold 8,200 shares of the firm’s stock in a transaction on Friday, June 29th. The shares were sold at an average price of $42.42, for a total value of $347,844.00. Following the completion of the transaction, the director now directly owns 48,119 shares of the company’s stock, valued at approximately $2,041,207.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Terrence M. Dyer sold 14,551 shares of the firm’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $46.81, for a total transaction of $681,132.31. Following the completion of the transaction, the vice president now directly owns 18,491 shares of the company’s stock, valued at $865,563.71. The disclosure for this sale can be found here. Insiders sold a total of 122,751 shares of company stock valued at $5,628,976 over the last quarter. 31.30% of the stock is owned by company insiders.

WOR has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 7th. ValuEngine lowered shares of Worthington Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th.

Worthington Industries Profile

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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Institutional Ownership by Quarter for Worthington Industries (NYSE:WOR)

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