Fisher Asset Management LLC Acquires 42,891 Shares of Worthington Industries, Inc. (WOR)

Fisher Asset Management LLC raised its holdings in Worthington Industries, Inc. (NYSE:WOR) by 40.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,432 shares of the industrial products company’s stock after buying an additional 42,891 shares during the period. Fisher Asset Management LLC owned approximately 0.25% of Worthington Industries worth $6,436,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of WOR. Victory Capital Management Inc. boosted its position in Worthington Industries by 9.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,388,897 shares of the industrial products company’s stock valued at $58,292,000 after buying an additional 116,552 shares during the period. Macquarie Group Ltd. boosted its position in Worthington Industries by 10.8% in the 2nd quarter. Macquarie Group Ltd. now owns 1,151,872 shares of the industrial products company’s stock valued at $48,344,000 after buying an additional 112,524 shares during the period. Dimensional Fund Advisors LP boosted its position in Worthington Industries by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,213 shares of the industrial products company’s stock valued at $84,246,000 after buying an additional 95,260 shares during the period. WBI Investments Inc. purchased a new position in Worthington Industries in the 2nd quarter valued at approximately $3,889,000. Finally, Gateway Investment Advisers LLC purchased a new position in Worthington Industries in the 2nd quarter valued at approximately $2,197,000. 50.34% of the stock is owned by institutional investors.

Several equities analysts have commented on the stock. Zacks Investment Research cut shares of Worthington Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 7th. ValuEngine cut shares of Worthington Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. JPMorgan Chase & Co. decreased their price objective on shares of Worthington Industries from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, September 27th. Finally, Jefferies Financial Group decreased their price objective on shares of Worthington Industries from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Thursday, September 27th.

Worthington Industries stock opened at $40.64 on Wednesday. The firm has a market cap of $2.38 billion, a PE ratio of 14.11 and a beta of 1.00. Worthington Industries, Inc. has a 12-month low of $39.29 and a 12-month high of $49.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.98 and a quick ratio of 1.18.

Worthington Industries (NYSE:WOR) last released its quarterly earnings data on Wednesday, September 26th. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.02 by ($0.10). The firm had revenue of $988.10 million for the quarter, compared to analysts’ expectations of $1.03 billion. Worthington Industries had a return on equity of 18.42% and a net margin of 5.49%. Worthington Industries’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period last year, the firm posted $0.73 earnings per share. As a group, sell-side analysts forecast that Worthington Industries, Inc. will post 3.21 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.92 annualized dividend and a dividend yield of 2.26%. Worthington Industries’s dividend payout ratio (DPR) is currently 31.94%.

Worthington Industries Profile

Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.

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

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