BB&T Corp reduced its position in Worthington Industries, Inc. (NYSE:WOR) by 9.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 19,815 shares of the industrial products company’s stock after selling 1,991 shares during the quarter. BB&T Corp’s holdings in Worthington Industries were worth $715,000 as of its most recent filing with the SEC.
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A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Worthington Industries by 17.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,581 shares of the industrial products company’s stock valued at $104,000 after buying an additional 392 shares during the period. Janney Montgomery Scott LLC increased its stake in Worthington Industries by 6.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 8,485 shares of the industrial products company’s stock valued at $342,000 after buying an additional 506 shares during the period. Smith Graham & Co. Investment Advisors LP increased its stake in Worthington Industries by 0.5% in the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 155,573 shares of the industrial products company’s stock valued at $5,608,000 after buying an additional 830 shares during the period. Point72 Asset Management L.P. acquired a new position in Worthington Industries in the 2nd quarter valued at $36,000. Finally, Aperio Group LLC increased its stake in Worthington Industries by 10.8% in the 2nd quarter. Aperio Group LLC now owns 10,473 shares of the industrial products company’s stock valued at $422,000 after buying an additional 1,024 shares during the period. 45.77% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on WOR shares. ValuEngine raised shares of Worthington Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. Zacks Investment Research restated a “sell” rating on shares of Worthington Industries in a research report on Saturday, September 28th. Finally, TheStreet lowered shares of Worthington Industries from a “b-” rating to a “c” rating in a research report on Wednesday, September 25th.
In other Worthington Industries news, insider Jeffrey R. Klingler sold 961 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $38.46, for a total transaction of $36,960.06. Following the sale, the insider now directly owns 5,307 shares in the company, valued at approximately $204,107.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 34.80% of the stock is currently owned by insiders.
Shares of NYSE WOR opened at $38.95 on Friday. The firm has a market capitalization of $2.17 billion, a P/E ratio of 14.06 and a beta of 1.16. Worthington Industries, Inc. has a one year low of $31.42 and a one year high of $43.52. The company’s fifty day moving average is $36.33 and its two-hundred day moving average is $37.34. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 2.13.
Worthington Industries (NYSE:WOR) last issued its earnings results on Wednesday, September 25th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.10). The company had revenue of $855.86 million for the quarter, compared to analysts’ expectations of $924.00 million. Worthington Industries had a return on equity of 15.28% and a net margin of 2.58%. Worthington Industries’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. On average, sell-side analysts forecast that Worthington Industries, Inc. will post 2.72 earnings per share for the current fiscal year.
The business also recently announced a — dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a dividend yield of 2.7%. Worthington Industries’s payout ratio is currently 34.66%.
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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