Rhumbline Advisers grew its holdings in shares of Worthington Industries, Inc. (NYSE:WOR – Free Report) by 0.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 118,079 shares of the industrial products company’s stock after buying an additional 1,054 shares during the period. Rhumbline Advisers owned approximately 0.24% of Worthington Industries worth $7,634,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Worthington Industries by 33.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,378 shares of the industrial products company’s stock worth $89,000 after buying an additional 346 shares in the last quarter. Huntington National Bank increased its position in shares of Worthington Industries by 12.1% during the 4th quarter. Huntington National Bank now owns 1,642 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 177 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Worthington Industries by 224.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,787 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 1,236 shares during the last quarter. Point72 Hong Kong Ltd increased its holdings in Worthington Industries by 1,470.4% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,806 shares of the industrial products company’s stock worth $93,000 after acquiring an additional 1,691 shares during the last quarter. Finally, Point72 Middle East FZE purchased a new stake in Worthington Industries in the 4th quarter worth about $120,000. 45.30% of the stock is currently owned by institutional investors.
Insider Activity
In related news, Director Ozey K. Horton, Jr. sold 1,000 shares of Worthington Industries stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $74.66, for a total transaction of $74,660.00. Following the sale, the director now directly owns 39,069 shares in the company, valued at $2,916,891.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Catherine M. Lyttle sold 7,900 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $68.83, for a total value of $543,757.00. Following the sale, the senior vice president now directly owns 58,294 shares of the company’s stock, valued at $4,012,376.02. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ozey K. Horton, Jr. sold 1,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $74.66, for a total value of $74,660.00. Following the completion of the sale, the director now directly owns 39,069 shares in the company, valued at $2,916,891.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,311 shares of company stock valued at $6,106,132. Company insiders own 38.50% of the company’s stock.
Wall Street Analysts Forecast Growth
Check Out Our Latest Analysis on Worthington Industries
Worthington Industries Price Performance
Shares of Worthington Industries stock opened at $74.65 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.60 and a quick ratio of 1.76. The business’s 50 day simple moving average is $71.85 and its two-hundred day simple moving average is $63.85. The stock has a market capitalization of $3.73 billion, a P/E ratio of 14.41 and a beta of 1.29. Worthington Industries, Inc. has a one year low of $38.01 and a one year high of $77.42.
Worthington Industries (NYSE:WOR – Get Free Report) last announced its quarterly earnings results on Thursday, June 29th. The industrial products company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.84. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Worthington Industries had a return on equity of 16.96% and a net margin of 5.22%. The business’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. Analysts forecast that Worthington Industries, Inc. will post 5.65 EPS for the current year.
Worthington Industries Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, September 14th. This is a boost from Worthington Industries’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 1.71%. Worthington Industries’s payout ratio is 23.94%.
Worthington Industries Company Profile
Worthington Industries, Inc, an industrial manufacturing company, focuses on value-added steel processing, laser welded solutions, electrical steel laminations and manufactured consumer, building and sustainable mobility products in North America and internationally. It operates through Steel Processing, Consumer Products, Building Products, and Sustainable Energy Solutions segments.
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