Worthington Industries Inc. Declares Quarterly Dividend of $0.20 (WOR)
Worthington Industries Inc. (NYSE:WOR) announced a quarterly dividend on Wednesday, September 28th. Investors of record on Thursday, December 15th will be given a dividend of 0.20 per share on Thursday, December 29th. This represents a $0.80 dividend on an annualized basis and a yield of 1.71%.
Shares of Worthington Industries (NYSE:WOR) opened at 46.89 on Thursday. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 21.12 and a beta of 1.50. Worthington Industries has a 1-year low of $25.50 and a 1-year high of $47.09. The company has a 50-day moving average price of $42.72 and a 200-day moving average price of $39.83.
Worthington Industries (NYSE:WOR) last posted its quarterly earnings data on Wednesday, September 28th. The company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.26. Worthington Industries had a net margin of 5.06% and a return on equity of 18.83%. The business had revenue of $737.50 million for the quarter, compared to analyst estimates of $742.80 million. During the same quarter last year, the business earned $0.54 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts expect that Worthington Industries will post $2.84 earnings per share for the current fiscal year.
WOR has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Friday, June 3rd. Jefferies Group restated a “hold” rating and issued a $37.00 price target (up previously from $33.00) on shares of Worthington Industries in a research report on Friday, June 10th. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Worthington Industries in a research report on Thursday, June 30th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Worthington Industries presently has an average rating of “Hold” and an average price target of $37.00.
In related news, insider Geoffrey G. Gilmore sold 11,079 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $42.73, for a total value of $473,405.67. Following the completion of the transaction, the insider now owns 52,469 shares of the company’s stock, valued at approximately $2,242,000.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dale T. Brinkman sold 4,188 shares of the firm’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $42.10, for a total transaction of $176,314.80. Following the completion of the transaction, the vice president now directly owns 57,336 shares of the company’s stock, valued at approximately $2,413,845.60. The disclosure for this sale can be found here. 32.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Cantab Capital Partners LLP bought a new stake in shares of Worthington Industries during the second quarter worth about $176,000. Johnson Investment Counsel Inc. bought a new stake in shares of Worthington Industries during the second quarter worth about $215,000. Deere & Co. bought a new stake in shares of Worthington Industries during the second quarter worth about $224,000. Thrivent Financial for Lutherans raised its stake in shares of Worthington Industries by 7.5% in the second quarter. Thrivent Financial for Lutherans now owns 6,320 shares of the company’s stock worth $267,000 after buying an additional 440 shares during the period. Finally, National Asset Management Inc. bought a new stake in shares of Worthington Industries during the second quarter worth about $274,000. 50.94% of the stock is owned by hedge funds and other institutional investors.
Worthington Industries Company Profile
Worthington Industries, Inc is a diversified metals manufacturing company. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Company’s Steel Processing segment consists of the Worthington Steel business unit, Precision Specialty Metals, Inc and Worthington Steelpac Systems, LLC and also includes two consolidated joint ventures: Spartan Steel Coating, LLC, which operates a cold-rolled hot dipped galvanizing line in Monroe, Michigan, and TWB Company, LLC., which operates a laser welded blank business.
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