Ramsey Quantitative Systems purchased a new position in shares of Worthington Industries, Inc. (NYSE:WOR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,151 shares of the industrial products company’s stock, valued at approximately $359,000. Worthington Industries makes up about 0.4% of Ramsey Quantitative Systems’ investment portfolio, making the stock its 29th largest holding.
A number of other large investors have also recently added to or reduced their stakes in the business. California Public Employees Retirement System lifted its stake in Worthington Industries by 6.2% during the second quarter. California Public Employees Retirement System now owns 137,900 shares of the industrial products company’s stock worth $6,925,000 after purchasing an additional 8,100 shares in the last quarter. Northern Trust Corp lifted its stake in Worthington Industries by 1.3% during the second quarter. Northern Trust Corp now owns 783,344 shares of the industrial products company’s stock worth $39,339,000 after purchasing an additional 10,222 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Worthington Industries during the second quarter worth $729,000. Mutual of America Capital Management LLC lifted its stake in Worthington Industries by 3.7% during the second quarter. Mutual of America Capital Management LLC now owns 36,923 shares of the industrial products company’s stock worth $1,854,000 after purchasing an additional 1,326 shares in the last quarter. Finally, Acrospire Investment Management LLC lifted its stake in Worthington Industries by 81.8% during the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 51.96% of the company’s stock.
Shares of Worthington Industries, Inc. (WOR) traded up 1.51% during mid-day trading on Friday, hitting $51.21. The stock had a trading volume of 333,393 shares. The company’s 50 day moving average price is $50.06 and its 200 day moving average price is $47.24. The stock has a market cap of $3.24 billion, a P/E ratio of 16.26 and a beta of 1.16. Worthington Industries, Inc. has a 12-month low of $40.82 and a 12-month high of $62.44.
Worthington Industries (NYSE:WOR) last announced its quarterly earnings results on Wednesday, June 28th. The industrial products company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. Worthington Industries had a net margin of 6.79% and a return on equity of 20.29%. The firm had revenue of $845.30 million during the quarter, compared to analysts’ expectations of $785.58 million. During the same period in the prior year, the company earned $0.87 EPS. The firm’s revenue was up 18.3% on a year-over-year basis. Equities research analysts predict that Worthington Industries, Inc. will post $3.33 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.64%. This is a boost from Worthington Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, September 12th. Worthington Industries’s dividend payout ratio is 26.58%.
In related news, insider Geoffrey G. Gilmore sold 32,500 shares of the company’s stock in a transaction on Friday, July 28th. The shares were 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 approximately $4,397,355.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Dale T. Brinkman sold 28,212 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $49.50, for a total transaction of $1,396,494.00. Following the sale, the vice president now directly owns 71,087 shares of the company’s stock, valued at $3,518,806.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,712 shares of company stock valued at $3,300,819. 31.30% of the stock is owned by corporate insiders.
A number of research analysts have commented on WOR shares. Zacks Investment Research upgraded Worthington Industries from a “sell” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Wednesday, June 7th. BidaskClub upgraded Worthington Industries from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, Jefferies Group LLC increased their price objective on Worthington Industries from $45.00 to $47.00 and gave the company a “hold” rating in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $47.33.
Worthington Industries 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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