Fox Run Management L.L.C. Purchases 1,500 Shares of Worthington Industries, Inc. (WOR)
Fox Run Management L.L.C. raised its position in Worthington Industries, Inc. (NYSE:WOR) by 22.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,100 shares of the industrial products company’s stock after acquiring an additional 1,500 shares during the quarter. Fox Run Management L.L.C.’s holdings in Worthington Industries were worth $373,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of WOR. BlackRock Inc. lifted its holdings in Worthington Industries by 11,805.4% in the first quarter. BlackRock Inc. now owns 5,287,765 shares of the industrial products company’s stock valued at $238,426,000 after acquiring an additional 5,243,350 shares during the period. Macquarie Group Ltd. increased its position in Worthington Industries by 34.4% in the second quarter. Macquarie Group Ltd. now owns 944,571 shares of the industrial products company’s stock worth $47,436,000 after buying an additional 241,576 shares in the last quarter. Voya Investment Management LLC increased its position in Worthington Industries by 20.9% in the second quarter. Voya Investment Management LLC now owns 1,040,954 shares of the industrial products company’s stock worth $52,277,000 after buying an additional 180,199 shares in the last quarter. State Street Corp increased its position in Worthington Industries by 7.8% in the first quarter. State Street Corp now owns 2,372,663 shares of the industrial products company’s stock worth $106,987,000 after buying an additional 171,756 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Worthington Industries by 107.8% in the second quarter. American Century Companies Inc. now owns 317,157 shares of the industrial products company’s stock worth $15,928,000 after buying an additional 164,505 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors.
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A number of analysts have commented on WOR shares. Zacks Investment Research cut Worthington Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 13th. BidaskClub cut Worthington Industries from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, ValuEngine cut Worthington Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.50.
In other news, insider John G. Lamprinakos sold 7,500 shares of the business’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $44.96, for a total value of $337,200.00. Following the completion of the transaction, the insider now owns 70,751 shares of the company’s stock, valued at approximately $3,180,964.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 31.30% of the company’s stock.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings data on Wednesday, September 27th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.09). The company had revenue of $848.24 million during the quarter, compared to analyst estimates of $854.20 million. Worthington Industries had a net margin of 5.90% and a return on equity of 17.98%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.85%. Worthington Industries’s dividend payout ratio (DPR) is presently 29.58%.
Worthington Industries declared that its board has authorized a share repurchase program on Wednesday, September 27th that allows the company to repurchase 6,830,000 shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is 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.
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