Assenagon Asset Management S.A. bought a new position in Worthington Industries, Inc. (NYSE:WOR) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 37,097 shares of the industrial products company’s stock, valued at approximately $1,609,000. Assenagon Asset Management S.A. owned approximately 0.06% of Worthington Industries as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Worthington Industries by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,007,213 shares of the industrial products company’s stock valued at $84,246,000 after buying an additional 95,260 shares during the period. Victory Capital Management Inc. increased its stake in shares of Worthington Industries by 9.2% in the second quarter. Victory Capital Management Inc. now owns 1,388,897 shares of the industrial products company’s stock valued at $58,292,000 after buying an additional 116,552 shares during the period. Voya Investment Management LLC increased its stake in shares of Worthington Industries by 2.4% in the second quarter. Voya Investment Management LLC now owns 1,212,125 shares of the industrial products company’s stock valued at $50,873,000 after buying an additional 28,072 shares during the period. Macquarie Group Ltd. increased its stake in shares of Worthington Industries by 10.8% in the second quarter. Macquarie Group Ltd. now owns 1,151,872 shares of the industrial products company’s stock valued at $48,344,000 after buying an additional 112,524 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Worthington Industries by 0.9% in the second quarter. Northern Trust Corp now owns 727,703 shares of the industrial products company’s stock valued at $30,541,000 after buying an additional 6,412 shares during the period. 50.46% of the stock is owned by institutional investors and hedge funds.
WOR has been the subject of several recent research reports. ValuEngine raised Worthington Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Jefferies Financial Group decreased their price target on Worthington Industries from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Thursday, September 27th. JPMorgan Chase & Co. decreased their price target on Worthington Industries from $48.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, September 27th. Finally, Zacks Investment Research cut Worthington Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th.
Shares of WOR stock opened at $42.42 on Friday. The stock has a market capitalization of $2.59 billion, a PE ratio of 14.73 and a beta of 0.84. The company has a quick ratio of 1.18, a current ratio of 1.98 and a debt-to-equity ratio of 0.72. Worthington Industries, Inc. has a 1-year low of $39.29 and a 1-year high of $49.93.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings results on Wednesday, September 26th. The industrial products company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.10). The company had revenue of $988.10 million during the quarter, compared to analyst estimates of $1.03 billion. Worthington Industries had a net margin of 5.49% and a return on equity of 18.42%. The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 EPS. As a group, research analysts predict that Worthington Industries, Inc. will post 3.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be paid a $0.23 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.92 annualized dividend and a dividend yield of 2.17%. Worthington Industries’s payout ratio is 31.94%.
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Worthington Industries Profile
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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