Truist Financial Corp acquired a new stake in shares of Worthington Industries, Inc. (NYSE:WOR – Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,158 shares of the industrial products company’s stock, valued at approximately $333,000.
Several other institutional investors have also bought and sold shares of WOR. Huntington National Bank raised its position in shares of Worthington Industries by 12.1% during the 4th quarter. Huntington National Bank now owns 1,642 shares of the industrial products company’s stock worth $82,000 after buying an additional 177 shares in the last quarter. Point72 Hong Kong Ltd increased its stake in shares of Worthington Industries by 1,470.4% during the first quarter. Point72 Hong Kong Ltd now owns 1,806 shares of the industrial products company’s stock valued at $93,000 after acquiring an additional 1,691 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Worthington Industries by 224.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,787 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 1,236 shares in the last quarter. Point72 Middle East FZE acquired a new stake in Worthington Industries in the fourth quarter worth approximately $120,000. Finally, Dark Forest Capital Management LP boosted its stake in Worthington Industries by 268,000.0% during the 4th quarter. Dark Forest Capital Management LP now owns 2,681 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 2,680 shares in the last quarter. Institutional investors and hedge funds own 45.30% of the company’s stock.
Wall Street Analyst Weigh In
WOR has been the subject of several research analyst reports. StockNews.com assumed coverage on Worthington Industries in a report on Thursday, August 17th. They issued a “buy” rating for the company. BMO Capital Markets upped their price target on shares of Worthington Industries from $60.00 to $68.00 and gave the company a “market perform” rating in a report on Friday, June 30th.
Get Our Latest Stock Analysis on Worthington Industries
Worthington Industries Trading Up 1.4 %
Worthington Industries stock opened at $73.16 on Friday. Worthington Industries, Inc. has a 1 year low of $38.01 and a 1 year high of $75.42. The firm’s 50 day moving average price is $69.81 and its two-hundred day moving average price is $63.05. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 14.12 and a beta of 1.29. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.76 and a current ratio of 2.60.
Worthington Industries (NYSE:WOR – Get Free Report) last issued its earnings results on Thursday, June 29th. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.84. Worthington Industries had a return on equity of 16.96% and a net margin of 5.22%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm posted $1.58 EPS. The company’s quarterly revenue was down 19.2% on a year-over-year basis. On average, research analysts predict that Worthington Industries, Inc. will post 5.65 EPS for the current fiscal year.
Worthington Industries Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, September 14th. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 1.75%. Worthington Industries’s dividend payout ratio is currently 24.71%.
Insiders Place Their Bets
In other news, insider Jeffrey R. Klingler sold 13,367 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $67.08, for a total transaction of $896,658.36. Following the sale, the insider now owns 40,040 shares in the company, valued at $2,685,883.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Worthington Industries news, CFO Joseph B. Hayek sold 21,100 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $68.95, for a total transaction of $1,454,845.00. Following the completion of the sale, the chief financial officer now directly owns 133,080 shares in the company, valued at approximately $9,175,866. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey R. Klingler sold 13,367 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $67.08, for a total value of $896,658.36. Following the completion of the transaction, the insider now owns 40,040 shares in the company, valued at approximately $2,685,883.20. The disclosure for this sale can be found here. Insiders sold a total of 86,311 shares of company stock worth $6,106,132 over the last ninety days. 38.50% of the stock is currently owned by company insiders.
Worthington Industries Company Profile
Worthington Industries, Inc, an industrial manufacturing company, focuses on value-added steel processing, laser welded solutions, electrical steel laminations and manufactured consumer, building and sustainable mobility products in North America and internationally. It operates through Steel Processing, Consumer Products, Building Products, and Sustainable Energy Solutions segments.
See Also
Want to see what other hedge funds are holding WOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Worthington Industries, Inc. (NYSE:WOR – Free Report).
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