Worthington Industries (NYSE:WOR – Get Free Report) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.34, MarketWatch Earnings reports. Worthington Industries had a return on equity of 17.66% and a net margin of 6.14%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $666.15 million. During the same quarter last year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis.
Worthington Industries Trading Up 3.4 %
Shares of WOR traded up $1.94 during mid-day trading on Tuesday, hitting $58.49. 628,972 shares of the company’s stock traded hands, compared to its average volume of 394,010. The company has a quick ratio of 1.17, a current ratio of 1.95 and a debt-to-equity ratio of 0.16. Worthington Industries has a 1 year low of $29.69 and a 1 year high of $58.96. The firm has a market capitalization of $2.92 billion, a P/E ratio of 10.07 and a beta of 1.37. The business’s 50-day moving average price is $60.80 and its 200-day moving average price is $65.82.
Worthington Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th were paid a dividend of $0.32 per share. The ex-dividend date was Tuesday, November 14th. This represents a $1.28 annualized dividend and a dividend yield of 2.19%. Worthington Industries’s dividend payout ratio (DPR) is presently 22.03%.
Institutional Investors Weigh In On Worthington Industries
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in Worthington Industries by 2.6% in the first quarter. Commonwealth Equity Services LLC now owns 7,582 shares of the industrial products company’s stock worth $490,000 after purchasing an additional 189 shares during the period. FMR LLC grew its stake in Worthington Industries by 11.2% in the first quarter. FMR LLC now owns 2,146 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 216 shares during the period. Belpointe Asset Management LLC boosted its holdings in Worthington Industries by 5.5% in the first quarter. Belpointe Asset Management LLC now owns 4,221 shares of the industrial products company’s stock worth $273,000 after acquiring an additional 220 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Worthington Industries by 0.4% in the fourth quarter. Alliancebernstein L.P. now owns 68,927 shares of the industrial products company’s stock worth $3,426,000 after acquiring an additional 247 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Worthington Industries by 3.5% in the fourth quarter. Wells Fargo & Company MN now owns 8,575 shares of the industrial products company’s stock worth $426,000 after acquiring an additional 292 shares in the last quarter. 45.30% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on WOR. TheStreet raised Worthington Industries from a “c+” rating to a “b” rating in a report on Monday, December 4th. StockNews.com began coverage on Worthington Industries in a research report on Wednesday, December 6th. They set a “buy” rating for the company.
Check Out Our Latest Stock Analysis on WOR
Worthington Industries Company Profile (Get Free Report)
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.
Further Reading
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