New Mexico Educational Retirement Board Grows Stake in Worthington Industries, Inc. (NYSE:WOR)

Posted by Defense World Staff on Oct 6th, 2023

New Mexico Educational Retirement Board grew its position in shares of Worthington Industries, Inc. (NYSE:WOR – Free Report) by 12.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,200 shares of the industrial products company’s stock after purchasing an additional 700 shares during the period. New Mexico Educational Retirement Board’s holdings in Worthington Industries were worth $431,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in Worthington Industries by 33.5% in the first quarter. Tower Research Capital LLC TRC now owns 1,378 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 346 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Worthington Industries by 224.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,787 shares of the industrial products company’s stock worth $116,000 after acquiring an additional 1,236 shares in the last quarter. Point72 Hong Kong Ltd lifted its stake in Worthington Industries by 1,470.4% in the first quarter. Point72 Hong Kong Ltd now owns 1,806 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 1,691 shares during the last quarter. FMR LLC lifted its stake in Worthington Industries by 11.2% in the first quarter. FMR LLC now owns 2,146 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 216 shares during the last quarter. Finally, Point72 Middle East FZE bought a new stake in Worthington Industries in the fourth quarter worth $120,000. 45.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on WOR. TheStreet downgraded shares of Worthington Industries from a “b” rating to a “c+” rating in a research note on Monday. BMO Capital Markets boosted their price target on shares of Worthington Industries from $60.00 to $68.00 and gave the stock a “market perform” rating in a research note on Friday, June 30th. Finally, StockNews.com assumed coverage on shares of Worthington Industries in a research note on Thursday. They issued a “buy” rating for the company.

Check Out Our Latest Report on WOR

Insiders Place Their Bets

In other Worthington Industries news, Director Kerrii B. Anderson sold 5,000 shares of Worthington Industries stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $72.00, for a total value of $360,000.00. Following the completion of the sale, the director now owns 64,415 shares of the company’s stock, valued at approximately $4,637,880. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Ozey K. Horton, Jr. sold 1,000 shares of Worthington Industries stock in a transaction on Monday, July 31st. The shares were sold at an average price of $74.66, for a total transaction of $74,660.00. Following the transaction, the director now owns 39,069 shares in the company, valued at approximately $2,916,891.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 5,000 shares of Worthington Industries stock in a transaction on Monday, August 7th. The shares were sold at an average price of $72.00, for a total transaction of $360,000.00. Following the transaction, the director now owns 64,415 shares in the company, valued at approximately $4,637,880. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,844 shares of company stock valued at $3,754,629. Company insiders own 38.50% of the company’s stock.

Worthington Industries Price Performance

Shares of NYSE WOR opened at $59.82 on Friday. Worthington Industries, Inc. has a fifty-two week low of $41.61 and a fifty-two week high of $77.42. The company has a 50 day simple moving average of $70.70 and a two-hundred day simple moving average of $65.19. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 10.30 and a beta of 1.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.17 and a current ratio of 1.95.

Worthington Industries (NYSE:WOR – Get Free Report) last announced its earnings results on Thursday, September 28th. The industrial products company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. Worthington Industries had a net margin of 6.14% and a return on equity of 17.66%. The business’s revenue for the quarter was down 15.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 earnings per share. Analysts expect that Worthington Industries, Inc. will post 5.6 EPS for the current fiscal year.

Worthington Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Tuesday, November 14th. Worthington Industries’s dividend payout ratio (DPR) is presently 22.03%.

Worthington Industries Profile

(Free Report)

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.