New York State Common Retirement Fund increased its stake in shares of Worthington Industries, Inc. (NYSE: WOR – Get Rating) by 43.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,503 shares of the industrial products of the company’s stock after buying an additional 16,721 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of Worthington Industries worth $ 2,853,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. UMB Bank NA MO acquired a new stake in Worthington Industries during the fourth quarter worth approximately $ 35,000. Pinebridge Investments LP acquired a new stake in Worthington Industries during the fourth quarter worth approximately $ 55,000. Advisor Group Holdings Inc. grew its position in Worthington Industries by 17.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,615 shares of the industrial products company’s stock worth $ 88,000 after buying an additional 244 shares in the last quarter. Itau Unibanco Holding SA lifted its stake in Worthington Industries by 101.5% during the fourth quarter. Itau Unibanco Holding SA now owns 2,829 shares of the industrial products company’s stock worth $ 153,000 after purchasing an additional 1,425 shares during the last quarter. Finally, CoreCommodity Management LLC bought a new stake in Worthington Industries during the fourth quarter worth $ 220,000. Institutional investors and hedge funds own 45.96% of the company’s stock.
Analyst Ratings Changes
Separately, StockNews.com upgraded Worthington Industries from a “sell” rating to a “hold” rating in a research note on Saturday, June 25th.
Worthington Industries Stock Up 2.2%
NYSE WOR opened at $ 54.95 on Friday. The business has a fifty day moving average price of $ 46.18 and a two-hundred day moving average price of $ 50.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.92 and a quick ratio of 1.10. Worthington Industries, Inc. has a fifty-two week low of $ 39.13 and a fifty-two week high of $ 62.83. The stock has a market capitalization of $ 2.72 billion, a PE ratio of 7.41 and a beta of 1.02.
Worthington Industries (NYSE: WOR – Get Rating) last released its earnings results on Wednesday, June 22nd. The industrial products company reported $ 1.58 earnings per share for the quarter, topping the consensus estimate of $ 0.83 by $ 0.75. Worthington Industries had a return on equity of 23.06% and a net margin of 7.24%. The firm had revenue of $ 1.52 billion during the quarter, compared to analysts’ expectations of $ 1.24 billion. Equities analysts expect that Worthington Industries, Inc. will post 5.34 earnings per share for the current fiscal year.
Worthington Industries Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be paid a $ 0.31 dividend. This represents a $ 1.24 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from Worthington Industries’s previous quarterly dividend of $ 0.28. The ex-dividend date is Wednesday, September 14th. Worthington Industries’s dividend payout ratio is presently 15.09%.
Worthington Industries Profile
Worthington Industries, Inc, an industrial manufacturing company, focuses on value-added steel processing and manufactured metal products in North America and internationally. It operates through Steel Processing, Consumer Products, Building Products, and Sustainable Energy Solutions segments. The Steel Processing segment processes flat-rolled steel for customers primarily in the automotive, aerospace, agricultural, appliance, construction, container, hardware, heavy-truck, HVAC, lawn and garden, leisure and recreation, office furniture, and office equipment markets.
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