LS Investment Advisors LLC decreased its position in shares of Worthington Industries, Inc. (NYSE:WOR) by 41.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,937 shares of the industrial products company’s stock after selling 2,111 shares during the quarter. LS Investment Advisors LLC’s holdings in Worthington Industries were worth $129,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in shares of Worthington Industries during the 4th quarter worth approximately $708,000. ING Groep NV boosted its stake in shares of Worthington Industries by 23.1% during the 4th quarter. ING Groep NV now owns 6,746 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 1,264 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new stake in shares of Worthington Industries during the 4th quarter worth approximately $485,000. New Amsterdam Partners LLC NY boosted its stake in shares of Worthington Industries by 1.5% during the 4th quarter. New Amsterdam Partners LLC NY now owns 146,059 shares of the industrial products company’s stock worth $6,435,000 after acquiring an additional 2,172 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Worthington Industries during the 4th quarter worth approximately $55,391,000. 53.82% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Dale T. Brinkman sold 6,874 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $48.32, for a total value of $332,151.68. Following the sale, the vice president now owns 35,992 shares of the company’s stock, valued at approximately $1,739,133.44. The transaction was disclosed in a filing with the SEC, which is available through this link. 31.30% of the stock is currently owned by corporate insiders.
Shares of Worthington Industries, Inc. (NYSE WOR) opened at $46.33 on Friday. The company has a market capitalization of $2,821.56, a P/E ratio of 16.91, a PEG ratio of 3.55 and a beta of 1.11. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.32 and a current ratio of 2.11. Worthington Industries, Inc. has a 52 week low of $39.52 and a 52 week high of $53.27.
Worthington Industries (NYSE:WOR) last announced its quarterly 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 return on equity of 17.07% and a net margin of 5.43%. The firm had revenue of $871.30 million for the quarter, compared to analysts’ expectations of $823.50 million. During the same period last year, the firm earned $0.75 EPS. Worthington Industries’s revenue was up 19.7% compared to the same quarter last year. research analysts expect that Worthington Industries, Inc. will post 3.08 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Wednesday, March 14th. Worthington Industries’s payout ratio is currently 30.66%.
Separately, Zacks Investment Research raised Worthington Industries from a “sell” rating to a “hold” rating in a research note on Saturday, December 23rd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $46.50.
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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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