Retirement Systems of Alabama trimmed its holdings in Worthington Industries, Inc. (NYSE:WOR) by 6.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 52,206 shares of the industrial products company’s stock after selling 3,545 shares during the period. Retirement Systems of Alabama’s holdings in Worthington Industries were worth $2,264,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Schwab Charles Investment Management Inc. raised its holdings in shares of Worthington Industries by 9.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 387,587 shares of the industrial products company’s stock worth $16,268,000 after buying an additional 32,333 shares during the period. Macquarie Group Ltd. raised its holdings in shares of Worthington Industries by 10.8% in the second quarter. Macquarie Group Ltd. now owns 1,151,872 shares of the industrial products company’s stock worth $48,344,000 after buying an additional 112,524 shares during the period. Paloma Partners Management Co raised its holdings in shares of Worthington Industries by 145.8% in the second quarter. Paloma Partners Management Co now owns 29,008 shares of the industrial products company’s stock worth $1,218,000 after buying an additional 17,206 shares during the period. Neuburgh Advisers LLC raised its holdings in shares of Worthington Industries by 37.4% in the second quarter. Neuburgh Advisers LLC now owns 5,742 shares of the industrial products company’s stock worth $241,000 after buying an additional 1,562 shares during the period. Finally, Voya Investment Management LLC raised its holdings in shares of Worthington Industries by 2.4% in the second quarter. Voya Investment Management LLC now owns 1,212,125 shares of the industrial products company’s stock worth $50,873,000 after buying an additional 28,072 shares during the period. Hedge funds and other institutional investors own 50.46% of the company’s stock.
WOR has been the topic of several recent analyst reports. ValuEngine upgraded Worthington Industries from a “sell” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on Worthington Industries from $48.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, September 27th. Zacks Investment Research downgraded Worthington Industries from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Finally, Jefferies Financial Group reduced their price objective on Worthington Industries from $48.00 to $47.00 and set a “hold” rating on the stock in a report on Thursday, September 27th.
WOR opened at $43.76 on Friday. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 15.19 and a beta of 0.84. Worthington Industries, Inc. has a 52 week low of $39.29 and a 52 week high of $49.93. The company has a current ratio of 1.98, a quick ratio of 1.18 and a debt-to-equity ratio of 0.72.
Worthington Industries (NYSE:WOR) last released its quarterly earnings data on Wednesday, September 26th. The industrial products company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.10). The firm had revenue of $988.10 million for the quarter, compared to analysts’ expectations of $1.03 billion. Worthington Industries had a return on equity of 18.42% and a net margin of 5.49%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 earnings per share. On average, equities research analysts forecast that Worthington Industries, Inc. will post 3.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.92 annualized dividend and a yield of 2.10%. Worthington Industries’s payout ratio is currently 31.94%.
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Worthington Industries Company 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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