Arizona State Retirement System grew its position in shares of Worthington Industries, Inc. (NYSE:WOR) by 26.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,180 shares of the industrial products company’s stock after acquiring an additional 6,766 shares during the period. Arizona State Retirement System owned about 0.05% of Worthington Industries worth $1,418,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Victory Capital Management Inc. bought a new position in shares of Worthington Industries during the fourth quarter valued at about $55,391,000. Macquarie Group Ltd. raised its stake in shares of Worthington Industries by 2.8% during the third quarter. Macquarie Group Ltd. now owns 970,876 shares of the industrial products company’s stock valued at $44,660,000 after acquiring an additional 26,305 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of 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 acquiring an additional 15,313 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Worthington Industries by 1.6% during the third quarter. Principal Financial Group Inc. now owns 195,335 shares of the industrial products company’s stock valued at $8,985,000 after acquiring an additional 3,089 shares during the last quarter. Finally, Barings LLC raised its stake in shares of 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 acquiring an additional 86,800 shares during the last quarter. 52.65% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Michael J. Endres purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 4th. The stock was bought at an average cost of $39.78 per share, with a total value of $119,340.00. Following the completion of the purchase, the director now directly owns 187,440 shares in the company, valued at $7,456,363.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Catherine M. Lyttle sold 34,500 shares of the stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $40.65, for a total transaction of $1,402,425.00. Following the completion of the transaction, the vice president now directly owns 32,059 shares of the company’s stock, valued at $1,303,198.35. The disclosure for this sale can be found here. 31.30% of the stock is owned by corporate insiders.
WOR has been the subject of several recent analyst reports. Jefferies Group reaffirmed a “hold” rating and set a $45.00 price objective on shares of Worthington Industries in a research note on Friday, March 30th. Zacks Investment Research downgraded shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Finally, ValuEngine raised shares of Worthington Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th.
Shares of NYSE:WOR traded down $0.76 during midday trading on Friday, hitting $40.79. 422,874 shares of the stock traded hands, compared to its average volume of 329,481. The company has a market cap of $2,559.17, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 3.28 and a beta of 1.09. The company has a current ratio of 2.05, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72. Worthington Industries, Inc. has a one year low of $39.52 and a one year high of $53.27.
Worthington Industries (NYSE:WOR) last released its quarterly earnings results on Thursday, March 29th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.14). Worthington Industries had a return on equity of 17.05% and a net margin of 6.47%. The company had revenue of $841.66 million during the quarter, compared to the consensus estimate of $863.50 million. During the same period in the previous year, the company earned $0.55 earnings per share. Worthington Industries’s quarterly revenue was up 19.6% on a year-over-year basis. research analysts forecast that Worthington Industries, Inc. will post 3.02 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Thursday, June 14th. Worthington Industries’s payout ratio is currently 26.09%.
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Worthington Industries 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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