Worthington Industries, Inc. (WOR) Insider John G. Lamprinakos Sells 7,500 Shares
Worthington Industries, Inc. (NYSE:WOR) insider John G. Lamprinakos sold 7,500 shares of Worthington Industries stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $44.96, for a total value of $337,200.00. Following the sale, the insider now directly owns 70,751 shares in the company, valued at approximately $3,180,964.96. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Worthington Industries, Inc. (NYSE:WOR) traded down 0.15% during mid-day trading on Monday, reaching $45.67. The company had a trading volume of 13,597 shares. The firm’s 50 day moving average is $47.69 and its 200-day moving average is $46.73. Worthington Industries, Inc. has a 12-month low of $40.82 and a 12-month high of $62.44. The stock has a market capitalization of $2.88 billion, a P/E ratio of 16.12 and a beta of 1.14.
Worthington Industries (NYSE:WOR) last announced its earnings results on Wednesday, September 27th. The industrial products company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.09). Worthington Industries had a return on equity of 17.98% and a net margin of 5.90%. The firm had revenue of $848.24 million for the quarter, compared to the consensus estimate of $854.20 million. During the same quarter last year, the business posted $1.03 EPS. Worthington Industries’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts expect that Worthington Industries, Inc. will post $3.12 earnings per share for the current fiscal year.
Worthington Industries declared that its board has approved a share buyback program on Wednesday, September 27th that authorizes the company to buyback 6,830,000 outstanding shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.84 dividend on an annualized basis and a yield of 1.84%. Worthington Industries’s dividend payout ratio (DPR) is presently 29.58%.
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A number of institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new position in Worthington Industries during the 3rd quarter worth $3,588,000. Public Employees Retirement System of Ohio increased its stake in Worthington Industries by 0.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 18,243 shares of the industrial products company’s stock worth $916,000 after acquiring an additional 108 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Worthington Industries during the 2nd quarter worth $212,000. The Manufacturers Life Insurance Company increased its stake in Worthington Industries by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 98,171 shares of the industrial products company’s stock worth $4,931,000 after acquiring an additional 1,033 shares during the period. Finally, Gotham Asset Management LLC bought a new position in Worthington Industries during the 2nd quarter worth $423,000. Hedge funds and other institutional investors own 52.02% of the company’s stock.
Several analysts have recently weighed in on the company. BidaskClub lowered Worthington Industries from a “buy” rating to a “hold” rating in a report on Monday, July 24th. ValuEngine lowered Worthington Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Zacks Investment Research lowered Worthington Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, Jefferies Group LLC lifted their price objective on Worthington Industries from $45.00 to $47.00 and gave the stock a “hold” rating in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $46.50.
Worthington Industries Company 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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