Worthington Industries, Inc. (NYSE:WOR) Shares Bought by Texas Permanent School Fund
Texas Permanent School Fund increased its position in shares of Worthington Industries, Inc. (NYSE:WOR) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 32,081 shares of the industrial products company’s stock after buying an additional 271 shares during the period. Texas Permanent School Fund’s holdings in Worthington Industries were worth $1,611,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC raised its position in shares of Worthington Industries by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 7,571 shares of the industrial products company’s stock worth $341,000 after buying an additional 20 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of Worthington Industries by 0.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 7,781 shares of the industrial products company’s stock worth $351,000 after buying an additional 58 shares during the period. Retirement Systems of Alabama raised its position in shares of Worthington Industries by 0.3% in the first quarter. Retirement Systems of Alabama now owns 56,720 shares of the industrial products company’s stock worth $2,558,000 after buying an additional 143 shares during the period. Capstone Asset Management Co. raised its position in Worthington Industries by 3.1% in the second quarter. Capstone Asset Management Co. now owns 5,633 shares of the industrial products company’s stock valued at $283,000 after buying an additional 170 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Worthington Industries by 4.9% in the first quarter. Envestnet Asset Management Inc. now owns 3,755 shares of the industrial products company’s stock valued at $168,000 after buying an additional 175 shares during the last quarter. Institutional investors own 54.13% of the company’s stock.
Worthington Industries, Inc. (NYSE WOR) opened at 50.03 on Tuesday. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 15.88 and a beta of 1.14. The company’s 50 day moving average is $50.61 and its 200 day moving average is $47.07. Worthington Industries, Inc. has a 12-month low of $39.28 and a 12-month high of $62.44.
Worthington Industries (NYSE:WOR) last posted its earnings results on Wednesday, June 28th. The industrial products company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.04. The company had revenue of $845.30 million during the quarter, compared to the consensus estimate of $785.58 million. Worthington Industries had a net margin of 6.78% and a return on equity of 20.59%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 earnings per share. On average, equities analysts anticipate that Worthington Industries, Inc. will post $3.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.68%. This is an increase from Worthington Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, September 12th.
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WOR has been the topic of several recent research reports. Zacks Investment Research lowered shares of Worthington Industries from a “hold” rating to a “sell” rating in a report on Saturday, June 3rd. Jefferies Group LLC restated a “hold” rating and set a $45.00 target price on shares of Worthington Industries in a report on Wednesday, June 14th. Finally, BidaskClub upgraded shares of Worthington Industries from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Worthington Industries presently has a consensus rating of “Hold” and a consensus price target of $47.33.
In other Worthington Industries news, VP Dale T. Brinkman sold 28,212 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $49.50, for a total value of $1,396,494.00. Following the completion of the sale, the vice president now directly owns 71,087 shares of the company’s stock, valued at $3,518,806.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Geoffrey G. Gilmore sold 32,500 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $50.85, for a total transaction of $1,652,625.00. Following the completion of the sale, the insider now directly owns 86,477 shares of the company’s stock, valued at $4,397,355.45. The disclosure for this sale can be found here. Insiders sold 65,712 shares of company stock valued at $3,300,819 over the last three months. Insiders own 32.00% of the company’s stock.
Worthington Industries Company Profile
Worthington Industries, Inc is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors.
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