American International Group Inc. lowered its position in Worthington Industries, Inc. (NYSE:WOR) by 4.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,252 shares of the industrial products company’s stock after selling 4,527 shares during the period. American International Group Inc. owned approximately 0.18% of Worthington Industries worth $4,737,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WOR. Bank of Montreal Can acquired a new stake in shares of Worthington Industries in the 2nd quarter worth approximately $119,000. Alps Advisors Inc. acquired a new stake in Worthington Industries during the 2nd quarter valued at $408,000. Victory Capital Management Inc. grew its holdings in Worthington Industries by 9.2% during the 2nd 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 last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Worthington Industries during the 2nd quarter valued at $488,000. Finally, SG Americas Securities LLC grew its holdings in Worthington Industries by 7.4% during the 2nd quarter. SG Americas Securities LLC now owns 20,064 shares of the industrial products company’s stock valued at $842,000 after buying an additional 1,374 shares during the last quarter. Institutional investors and hedge funds own 50.89% of the company’s stock.
WOR has been the topic of a number of analyst reports. Zacks Investment Research cut Worthington Industries from a “hold” rating to a “sell” rating in a report on Saturday, December 1st. ValuEngine upgraded Worthington Industries from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. JPMorgan Chase & Co. lowered their target price on Worthington Industries from $48.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, September 27th. Finally, Jefferies Financial Group lowered their target price on Worthington Industries from $48.00 to $47.00 and set a “hold” rating on the stock in a report on Thursday, September 27th.
Shares of NYSE:WOR opened at $38.29 on Friday. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 13.30 and a beta of 0.83. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.18 and a current ratio of 1.98. Worthington Industries, Inc. has a one year low of $38.18 and a one year high of $49.93.
Worthington Industries (NYSE:WOR) last announced its earnings results on Wednesday, September 26th. The industrial products company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.10). Worthington Industries had a net margin of 5.49% and a return on equity of 18.42%. The company had revenue of $988.10 million for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company posted $0.73 EPS. Worthington Industries’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, equities research analysts forecast that Worthington Industries, Inc. will post 3.19 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, December 13th. Worthington Industries’s dividend payout ratio is presently 31.94%.
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Worthington Industries Company 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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