Worthington Industries, Inc. (WOR) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Worthington Industries, Inc. (NYSE:WOR) posted its quarterly earnings data on Wednesday. The industrial products company reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.09), MarketWatch Earnings reports. Worthington Industries had a return on equity of 20.29% and a net margin of 6.79%. The business had revenue of $848.24 million during the quarter, compared to the consensus estimate of $854.20 million. During the same period last year, the business posted $1.03 earnings per share. The business’s revenue was up 15.0% on a year-over-year basis.

Worthington Industries (NYSE WOR) opened at 48.04 on Thursday. The stock has a 50 day moving average price of $50.06 and a 200 day moving average price of $47.24. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 15.25 and a beta of 1.16. Worthington Industries has a 52-week low of $40.82 and a 52-week high of $62.44.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.67%. Worthington Industries’s dividend payout ratio (DPR) is presently 26.58%.

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In other news, VP Dale T. Brinkman sold 28,212 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $49.50, for a total transaction of $1,396,494.00. Following the completion of the transaction, the vice president now directly owns 71,087 shares of the company’s stock, valued at $3,518,806.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sidney A. Ribeau sold 5,000 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $50.34, for a total transaction of $251,700.00. Following the transaction, the director now directly owns 42,519 shares of the company’s stock, valued at $2,140,406.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,712 shares of company stock valued at $3,300,819. Insiders own 31.30% of the company’s stock.

Large investors have recently modified their holdings of the company. Acrospire Investment Management LLC raised its stake in shares of Worthington Industries by 81.8% during the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 900 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Worthington Industries by 67.9% during the first quarter. Tower Research Capital LLC TRC now owns 2,424 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 980 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Worthington Industries by 11.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the industrial products company’s stock valued at $115,000 after acquiring an additional 227 shares during the last quarter. First Mercantile Trust Co. raised its stake in shares of Worthington Industries by 2.0% during the second quarter. First Mercantile Trust Co. now owns 3,070 shares of the industrial products company’s stock valued at $154,000 after acquiring an additional 60 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Worthington Industries by 4.9% during the first quarter. Envestnet Asset Management Inc. now owns 3,755 shares of the industrial products company’s stock valued at $168,000 after acquiring an additional 175 shares during the last quarter. 51.96% of the stock is owned by hedge funds and other institutional investors.

WOR has been the subject of several research analyst reports. Zacks Investment Research raised Worthington Industries from a “sell” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Wednesday, June 7th. BidaskClub lowered Worthington Industries from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. ValuEngine lowered Worthington Industries from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Jefferies Group LLC lifted their price objective on Worthington Industries from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Friday, June 30th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $47.33.

Worthington Industries Company Profile

Worthington Industries, Inc is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors.

Earnings History for Worthington Industries (NYSE:WOR)

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