Worthington Industries (NYSE:WOR – Get Free Report) is scheduled to be announcing its earnings results after the market closes on Wednesday, September 27th. Analysts expect the company to announce earnings of $1.99 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.
Worthington Industries (NYSE:WOR – Get Free Report) last announced its quarterly earnings data on Thursday, June 29th. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.84. The firm had revenue of $1.23 billion during 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 company’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same period last year, the business posted $1.58 earnings per share. On average, analysts expect Worthington Industries to post $6 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Worthington Industries Stock Down 0.5 %
Shares of WOR stock opened at $68.70 on Wednesday. The stock has a 50 day moving average of $72.39 and a 200 day moving average of $64.60. The company has a current ratio of 2.60, a quick ratio of 1.76 and a debt-to-equity ratio of 0.38. The stock has a market cap of $3.43 billion, a P/E ratio of 13.26 and a beta of 1.29. Worthington Industries has a twelve month low of $38.01 and a twelve month high of $77.42.
Worthington Industries Increases Dividend
Insiders Place Their Bets
In other news, SVP Catherine M. Lyttle sold 7,900 shares of the stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $68.83, for a total value of $543,757.00. Following the transaction, the senior vice president now owns 58,294 shares in the company, valued at approximately $4,012,376.02. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Worthington Industries news, CFO Joseph B. Hayek sold 21,100 shares of Worthington Industries stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $68.95, for a total value of $1,454,845.00. Following the transaction, the chief financial officer now directly owns 133,080 shares in the company, valued at approximately $9,175,866. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Catherine M. Lyttle sold 7,900 shares of Worthington Industries stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $68.83, for a total value of $543,757.00. Following the completion of the transaction, the senior vice president now owns 58,294 shares in the company, valued at $4,012,376.02. The disclosure for this sale can be found here. Insiders have sold a total of 86,311 shares of company stock worth $6,106,132 in the last quarter. 38.50% of the stock is owned by company insiders.
Institutional Trading of Worthington Industries
Hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Worthington Industries by 13.0% during the first quarter. BlackRock Inc. now owns 4,571,279 shares of the industrial products company’s stock worth $235,012,000 after purchasing an additional 526,776 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Worthington Industries by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,328,906 shares of the industrial products company’s stock valued at $171,139,000 after purchasing an additional 12,047 shares during the period. State Street Corp grew its position in Worthington Industries by 18.1% during the first quarter. State Street Corp now owns 2,010,543 shares of the industrial products company’s stock valued at $103,362,000 after acquiring an additional 307,667 shares during the period. Dimensional Fund Advisors LP grew its position in Worthington Industries by 6.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,809,125 shares of the industrial products company’s stock valued at $93,007,000 after acquiring an additional 108,764 shares during the period. Finally, Geode Capital Management LLC grew its position in Worthington Industries by 3.3% during the second quarter. Geode Capital Management LLC now owns 611,221 shares of the industrial products company’s stock valued at $42,462,000 after acquiring an additional 19,252 shares during the period. 45.30% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. StockNews.com assumed coverage on Worthington Industries in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. BMO Capital Markets boosted their price objective on Worthington Industries from $60.00 to $68.00 and gave the stock a “market perform” rating in a research note on Friday, June 30th.
View Our Latest Analysis on Worthington Industries
About Worthington Industries
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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