Worthington Industries, Inc. (NYSE:WOR) – Equities research analysts at Jefferies Group lifted their FY2018 earnings per share (EPS) estimates for Worthington Industries in a note issued to investors on Tuesday. Jefferies Group analyst S. Rosenfeld now forecasts that the industrial products company will post earnings per share of $3.15 for the year, up from their previous forecast of $2.96. Jefferies Group also issued estimates for Worthington Industries’ Q4 2018 earnings at $0.98 EPS and FY2019 earnings at $3.62 EPS.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings results on Tuesday, December 19th. The industrial products company reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). The company had revenue of $871.30 million during the quarter, compared to analysts’ expectations of $823.50 million. Worthington Industries had a return on equity of 17.07% and a net margin of 5.43%. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS.
Shares of Worthington Industries (NYSE:WOR) traded down $0.36 on Thursday, reaching $47.75. The company had a trading volume of 338,099 shares, compared to its average volume of 424,879. The stock has a market cap of $2,963.22, a PE ratio of 17.43, a P/E/G ratio of 3.81 and a beta of 1.11. Worthington Industries has a 1 year low of $39.52 and a 1 year high of $53.27. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.11 and a quick ratio of 1.32.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.84 dividend on an annualized basis and a yield of 1.76%. Worthington Industries’s payout ratio is presently 30.66%.
Worthington Industries announced that its Board of Directors has initiated a stock buyback plan on Wednesday, September 27th that permits the company to buyback 6,830,000 shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other Worthington Industries news, Director Peter Karmanos sold 45,376 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $45.77, for a total transaction of $2,076,859.52. Following the completion of the sale, the director now directly owns 85,840 shares in the company, valued at approximately $3,928,896.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John G. Lamprinakos sold 7,500 shares of the firm’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 sale, the insider now owns 70,751 shares of the company’s stock, valued at $3,180,964.96. The disclosure for this sale can be found here. Insiders have sold a total of 72,876 shares of company stock valued at $3,290,460 over the last 90 days. Corporate insiders own 31.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in WOR. Russell Investments Group Ltd. boosted its position in Worthington Industries by 6.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 19,305 shares of the industrial products company’s stock worth $970,000 after acquiring an additional 1,169 shares during the period. Legal & General Group Plc lifted its holdings in shares of Worthington Industries by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 57,908 shares of the industrial products company’s stock valued at $2,905,000 after buying an additional 4,610 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Worthington Industries by 11.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the industrial products company’s stock valued at $115,000 after buying an additional 227 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Worthington Industries by 10.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,098,713 shares of the industrial products company’s stock valued at $55,178,000 after buying an additional 101,166 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Worthington Industries by 2.5% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 7,763 shares of the industrial products company’s stock valued at $328,000 after buying an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 54.38% 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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