8,432 Shares in Worthington Industries, Inc. (WOR) Purchased by Gotham Asset Management LLC

Gotham Asset Management LLC acquired a new position in shares of Worthington Industries, Inc. (NYSE:WOR) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,432 shares of the industrial products company’s stock, valued at approximately $423,000.

A number of other institutional investors also recently bought and sold shares of WOR. BlackRock Inc. increased its position in Worthington Industries by 11,805.4% during the 1st quarter. BlackRock Inc. now owns 5,287,765 shares of the industrial products company’s stock worth $238,426,000 after purchasing an additional 5,243,350 shares in the last quarter. Macquarie Group Ltd. increased its position in Worthington Industries by 34.4% during the 2nd quarter. Macquarie Group Ltd. now owns 944,571 shares of the industrial products company’s stock worth $47,436,000 after purchasing an additional 241,576 shares in the last quarter. Voya Investment Management LLC increased its position in Worthington Industries by 20.9% during the 2nd quarter. Voya Investment Management LLC now owns 1,040,954 shares of the industrial products company’s stock worth $52,277,000 after purchasing an additional 180,199 shares in the last quarter. State Street Corp increased its position in Worthington Industries by 7.8% during the 1st quarter. State Street Corp now owns 2,372,663 shares of the industrial products company’s stock worth $106,987,000 after purchasing an additional 171,756 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Worthington Industries by 107.8% during the 2nd quarter. American Century Companies Inc. now owns 317,157 shares of the industrial products company’s stock worth $15,928,000 after purchasing an additional 164,505 shares in the last quarter. Hedge funds and other institutional investors own 52.02% of the company’s stock.

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A number of analysts recently commented on the company. BidaskClub cut Worthington Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. ValuEngine cut Worthington Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Zacks Investment Research cut Worthington Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 13th. 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. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Worthington Industries presently has an average rating of “Hold” and an average price target of $46.50.

In related news, insider Geoffrey G. Gilmore sold 32,500 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $50.85, for a total transaction of $1,652,625.00. Following the transaction, the insider now directly owns 86,477 shares of the company’s stock, valued at $4,397,355.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 31.30% of the stock is currently owned by insiders.

Shares of Worthington Industries, Inc. (NYSE:WOR) opened at 45.74 on Friday. The company’s 50-day moving average price is $47.69 and its 200-day moving average price is $46.73. Worthington Industries, Inc. has a 52-week low of $40.82 and a 52-week high of $62.44. The stock has a market cap of $2.89 billion, a PE ratio of 14.52 and a beta of 1.14.

Worthington Industries (NYSE:WOR) last announced its earnings results on Wednesday, September 27th. The industrial products company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.09). Worthington Industries had a net margin of 5.90% and a return on equity of 17.98%. The company had revenue of $848.24 million for the quarter, compared to analysts’ expectations of $854.20 million. During the same period in the prior year, the company earned $1.03 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. Analysts expect that Worthington Industries, Inc. will post $3.12 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, December 14th. Worthington Industries’s payout ratio is 29.58%.

Worthington Industries declared that its board has authorized a stock repurchase plan on Wednesday, September 27th that allows the company to buyback 6,830,000 outstanding shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

About Worthington Industries

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.

Institutional Ownership by Quarter for Worthington Industries (NYSE:WOR)

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