American Century Companies Inc. Has $15.93 Million Position in Worthington Industries, Inc. (WOR)
American Century Companies Inc. boosted its holdings in Worthington Industries, Inc. (NYSE:WOR) by 107.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 317,157 shares of the industrial products company’s stock after acquiring an additional 164,505 shares during the quarter. American Century Companies Inc. owned 0.50% of Worthington Industries worth $15,928,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. TrimTabs Asset Management LLC increased its stake in Worthington Industries by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,347 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 1,104 shares during the period. Tower Research Capital LLC TRC increased its stake in Worthington Industries by 67.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,424 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 980 shares during the period. First Mercantile Trust Co. increased its stake in Worthington Industries by 2.0% in the second quarter. First Mercantile Trust Co. now owns 3,070 shares of the industrial products company’s stock valued at $154,000 after acquiring an additional 60 shares during the period. Envestnet Asset Management Inc. increased its stake 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 acquiring an additional 175 shares during the period. Finally, LS Investment Advisors LLC increased its stake in Worthington Industries by 31.6% in the first quarter. LS Investment Advisors LLC now owns 3,977 shares of the industrial products company’s stock valued at $179,000 after acquiring an additional 954 shares during the period. 51.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Worthington Industries, Inc. (NYSE:WOR) opened at 50.55 on Monday. Worthington Industries, Inc. has a 52 week low of $39.28 and a 52 week high of $62.44. The company has a market capitalization of $3.20 billion, a PE ratio of 16.05 and a beta of 1.16. The firm’s 50-day moving average is $50.54 and its 200 day moving average is $47.20.
Worthington Industries (NYSE:WOR) last issued its earnings results on Wednesday, June 28th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.83 by $0.04. The company had revenue of $845.30 million during the quarter, compared to analysts’ expectations of $785.58 million. Worthington Industries had a net margin of 6.79% and a return on equity of 20.29%. The business’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 company earned $0.87 EPS. On average, analysts anticipate that Worthington Industries, Inc. will post $3.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This is a boost from Worthington Industries’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 1.66%. Worthington Industries’s payout ratio is presently 25.32%.
In other news, Director Sidney A. Ribeau sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $50.34, for a total value of $251,700.00. Following the completion of the transaction, the director now directly owns 42,519 shares in the company, valued at approximately $2,140,406.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $1,396,494.00. Following the completion of the transaction, the vice president now owns 71,087 shares of the company’s stock, valued at $3,518,806.50. The disclosure for this sale can be found here. Insiders sold a total of 65,712 shares of company stock valued at $3,300,819 over the last 90 days. Corporate insiders own 31.30% of the company’s stock.
A number of research firms recently weighed in on WOR. BidaskClub cut shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC upped their target price on shares of Worthington Industries from $45.00 to $47.00 and gave the company a “hold” rating in a research note on Friday, June 30th. Finally, Zacks Investment Research raised shares of Worthington Industries from a “sell” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Wednesday, June 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $47.33.
About Worthington Industries
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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