Comerica Bank reduced its stake in shares of Worthington Industries, Inc. (NYSE:WOR) by 20.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,088 shares of the industrial products company’s stock after selling 6,872 shares during the quarter. Comerica Bank’s holdings in Worthington Industries were worth $1,137,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. grew its stake in shares of Worthington Industries by 126.4% during the second quarter. Itau Unibanco Holding S.A. now owns 2,420 shares of the industrial products company’s stock valued at $102,000 after buying an additional 1,351 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Worthington Industries during the second quarter valued at approximately $119,000. Meadow Creek Investment Management LLC grew its stake in shares of Worthington Industries by 37.4% during the second quarter. Meadow Creek Investment Management LLC now owns 4,176 shares of the industrial products company’s stock valued at $175,000 after buying an additional 1,136 shares during the last quarter. Tiverton Asset Management LLC bought a new position in shares of Worthington Industries during the second quarter valued at approximately $205,000. Finally, Vident Investment Advisory LLC bought a new position in shares of Worthington Industries during the second quarter valued at approximately $206,000. 50.89% of the stock is currently owned by institutional investors.
WOR opened at $38.29 on Friday. The company has a market cap of $2.36 billion, a PE ratio of 13.30 and a beta of 0.83. Worthington Industries, Inc. has a one year low of $38.18 and a one year high of $49.93. The company has a current ratio of 1.98, a quick ratio of 1.18 and a debt-to-equity ratio of 0.72.
Worthington Industries (NYSE:WOR) last announced its quarterly earnings results on Wednesday, September 26th. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.10). The firm had revenue of $988.10 million during the quarter, compared to analysts’ expectations of $1.03 billion. Worthington Industries had a net margin of 5.49% and a return on equity of 18.42%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. As a group, equities research analysts predict that Worthington Industries, Inc. will post 3.19 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a $0.23 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.40%. Worthington Industries’s payout ratio is 31.94%.
A number of research analysts have recently commented on the company. Zacks Investment Research cut Worthington Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. ValuEngine raised Worthington Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, November 7th. JPMorgan Chase & Co. cut their target price on Worthington Industries from $48.00 to $45.00 and set a “neutral” rating on the stock in a research note on Thursday, September 27th. Finally, Jefferies Financial Group cut their target price on Worthington Industries from $48.00 to $47.00 and set a “hold” rating on the stock in a research note on Thursday, September 27th.
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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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