Teacher Retirement System of Texas cut its position in Worthington Industries, Inc. (NYSE:WOR) by 10.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,375 shares of the industrial products company’s stock after selling 1,059 shares during the quarter. Teacher Retirement System of Texas’ holdings in Worthington Industries were worth $393,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of Worthington Industries during the second quarter worth about $119,000. Fox Run Management L.L.C. purchased a new stake in shares of Worthington Industries during the second quarter worth about $251,000. Xact Kapitalforvaltning AB grew its stake in shares of Worthington Industries by 67.8% during the first quarter. Xact Kapitalforvaltning AB now owns 8,416 shares of the industrial products company’s stock worth $361,000 after acquiring an additional 3,400 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Worthington Industries by 52.8% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 8,948 shares of the industrial products company’s stock worth $384,000 after acquiring an additional 3,093 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in shares of Worthington Industries during the second quarter worth about $408,000. Institutional investors and hedge funds own 50.56% of the company’s stock.
Shares of NYSE WOR opened at $45.86 on Friday. The company has a market capitalization of $2.77 billion, a P/E ratio of 15.92 and a beta of 0.99. Worthington Industries, Inc. has a 52 week low of $39.52 and a 52 week high of $52.66. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.22 and a current ratio of 1.92.
Worthington Industries (NYSE:WOR) last issued its earnings results on Wednesday, June 27th. The industrial products company reported $0.95 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.09). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $935.50 million. Worthington Industries had a net margin of 5.44% and a return on equity of 17.39%. Worthington Industries’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. sell-side analysts predict that Worthington Industries, Inc. will post 3.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.92 dividend on an annualized basis and a yield of 2.01%. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.21. Worthington Industries’s dividend payout ratio is currently 29.17%.
In related news, VP Terrence M. Dyer sold 14,551 shares of the company’s stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $46.81, for a total value of $681,132.31. Following the sale, the vice president now owns 18,491 shares in the company, valued at $865,563.71. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sidney A. Ribeau sold 8,200 shares of the company’s stock in a transaction that occurred on Friday, June 29th. The stock was sold at an average price of $42.42, for a total value of $347,844.00. Following the completion of the sale, the director now owns 48,119 shares in the company, valued at approximately $2,041,207.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,751 shares of company stock worth $5,628,976. 31.30% of the stock is owned by insiders.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Worthington Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 7th. ValuEngine lowered Worthington Industries from a “hold” rating to a “sell” rating in a research report on Friday, June 29th.
Worthington Industries Profile
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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