Burney Co. grew its stake in Worthington Industries (NYSE:WOR) by 29.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,751 shares of the industrial products company’s stock after acquiring an additional 33,321 shares during the period. Burney Co. owned 0.24% of Worthington Industries worth $6,256,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in WOR. Nisa Investment Advisors LLC grew its holdings in shares of Worthington Industries by 14.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 33,420 shares of the industrial products company’s stock valued at $1,472,000 after acquiring an additional 4,300 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in shares of Worthington Industries by 22.4% in the 4th quarter. Gateway Investment Advisers LLC now owns 67,369 shares of the industrial products company’s stock valued at $2,968,000 after acquiring an additional 12,323 shares in the last quarter. Creative Planning bought a new position in shares of Worthington Industries in the 4th quarter valued at about $246,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Worthington Industries by 31.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 12,987 shares of the industrial products company’s stock valued at $572,000 after acquiring an additional 3,091 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP grew its holdings in shares of Worthington Industries by 2.0% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 172,453 shares of the industrial products company’s stock valued at $7,598,000 after acquiring an additional 3,330 shares in the last quarter. Institutional investors own 52.82% of the company’s stock.
In related news, insider John G. Lamprinakos sold 7,500 shares of Worthington Industries stock in a transaction dated Monday, April 23rd. The stock was sold at an average price of $45.83, for a total transaction of $343,725.00. Following the completion of the transaction, the insider now owns 70,751 shares in the company, valued at $3,242,518.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Catherine M. Lyttle sold 34,500 shares of Worthington Industries stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $40.65, for a total value of $1,402,425.00. Following the transaction, the vice president now owns 32,059 shares of the company’s stock, valued at approximately $1,303,198.35. The disclosure for this sale can be found here. Company insiders own 31.30% of the company’s stock.
Worthington Industries (NYSE:WOR) last posted its quarterly earnings results on Thursday, March 29th. The industrial products company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.14). Worthington Industries had a return on equity of 17.05% and a net margin of 6.47%. The business had revenue of $841.66 million for the quarter, compared to the consensus estimate of $863.50 million. During the same quarter in the previous year, the business posted $0.55 EPS. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. sell-side analysts forecast that Worthington Industries will post 3.02 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Thursday, June 14th. Worthington Industries’s payout ratio is currently 26.09%.
Several brokerages have recently weighed in on WOR. Zacks Investment Research cut Worthington Industries from a “hold” rating to a “strong sell” rating in a report on Saturday, April 7th. ValuEngine upgraded Worthington Industries from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, Jefferies Group restated a “hold” rating and issued a $45.00 price objective on shares of Worthington Industries in a report on Friday, March 30th.
About Worthington Industries
Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.
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