Worthington Industries, Inc. (WOR) Position Cut by Texas Permanent School Fund

Texas Permanent School Fund cut its position in shares of Worthington Industries, Inc. (NYSE:WOR) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,222 shares of the industrial products company’s stock after selling 2,454 shares during the period. Texas Permanent School Fund’s holdings in Worthington Industries were worth $1,332,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WOR. Prudential Financial Inc. boosted its holdings in Worthington Industries by 23.9% during the third quarter. Prudential Financial Inc. now owns 948,446 shares of the industrial products company’s stock worth $43,629,000 after buying an additional 182,962 shares in the last quarter. Barings LLC boosted its holdings in Worthington Industries by 92.3% during the third quarter. Barings LLC now owns 180,870 shares of the industrial products company’s stock worth $8,320,000 after buying an additional 86,800 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Worthington Industries during the third quarter worth $3,588,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in Worthington Industries during the third quarter worth $2,328,000. Finally, Wells Fargo & Company MN boosted its holdings in Worthington Industries by 74.3% during the third quarter. Wells Fargo & Company MN now owns 113,141 shares of the industrial products company’s stock worth $5,205,000 after buying an additional 48,238 shares in the last quarter. 53.47% of the stock is currently owned by hedge funds and other institutional investors.

Worthington Industries, Inc. (NYSE WOR) opened at $43.25 on Monday. The company has a current ratio of 2.11, a quick ratio of 1.32 and a debt-to-equity ratio of 0.74. The stock has a market cap of $2,663.88, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 3.35 and a beta of 1.10. Worthington Industries, Inc. has a twelve month low of $39.52 and a twelve month high of $53.27.

Worthington Industries (NYSE:WOR) last posted its quarterly earnings data on Tuesday, December 19th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). The company had revenue of $871.30 million for the quarter, compared to analysts’ expectations of $823.50 million. Worthington Industries had a net margin of 5.43% and a return on equity of 17.07%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share. equities research analysts predict that Worthington Industries, Inc. will post 3.08 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Wednesday, March 14th. Worthington Industries’s payout ratio is 30.66%.

Separately, Zacks Investment Research downgraded shares of Worthington Industries from a “hold” rating to a “sell” rating in a report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Worthington Industries has an average rating of “Hold” and an average target price of $46.50.

In other Worthington Industries news, VP Dale T. Brinkman sold 6,874 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $48.32, for a total transaction of $332,151.68. Following the transaction, the vice president now directly owns 35,992 shares of the company’s stock, valued at $1,739,133.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 31.30% of the company’s stock.

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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.

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

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