Worthington Industries, Inc. (NYSE:WOR) – Research analysts at Jefferies Group lowered their FY2018 EPS estimates for Worthington Industries in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. Jefferies Group analyst S. Rosenfeld now forecasts that the industrial products company will post earnings per share of $2.96 for the year, down from their previous estimate of $3.06. Jefferies Group also issued estimates for Worthington Industries’ Q4 2018 earnings at $0.87 EPS.
Worthington Industries (NYSE:WOR) last posted its earnings results on Tuesday, December 19th. The industrial products company reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). The firm had revenue of $871.30 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.75 earnings per share.
Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of Worthington Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Zacks Investment Research upgraded shares of Worthington Industries from a “sell” rating to a “hold” rating in a report on Thursday, November 30th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $46.50.
Shares of Worthington Industries (NYSE:WOR) opened at $47.75 on Thursday. The company has a quick ratio of 1.32, a current ratio of 2.11 and a debt-to-equity ratio of 0.74. The firm has a market cap of $2,963.22, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 3.81 and a beta of 1.11. Worthington Industries has a twelve month low of $39.52 and a twelve month high of $53.27.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.84 annualized dividend and a yield of 1.76%. Worthington Industries’s dividend payout ratio (DPR) is presently 30.66%.
Worthington Industries declared that its board has authorized a share repurchase plan 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 plans are usually an indication that the company’s management believes its shares are undervalued.
In related news, insider John G. Lamprinakos sold 7,500 shares of the firm’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $44.96, for a total transaction of $337,200.00. Following the sale, the insider now directly owns 70,751 shares in the company, valued at $3,180,964.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter Karmanos sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $43.82, for a total transaction of $876,400.00. Following the sale, the director now owns 65,840 shares in the company, valued at $2,885,108.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,876 shares of company stock worth $3,290,460. Company insiders own 31.30% of the company’s stock.
Large investors have recently modified their holdings of the stock. American Century Companies Inc. raised its holdings in shares of Worthington Industries by 107.8% during the second quarter. American Century Companies Inc. now owns 317,157 shares of the industrial products company’s stock worth $15,928,000 after acquiring an additional 164,505 shares during the period. Gareth Morgan Investments Limited Partnership acquired a new stake in shares of Worthington Industries during the second quarter worth $1,414,000. Prudential Financial Inc. raised its holdings in shares of Worthington Industries by 4.8% during the second quarter. Prudential Financial Inc. now owns 765,484 shares of the industrial products company’s stock worth $38,443,000 after acquiring an additional 34,720 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Worthington Industries during the third quarter worth $3,588,000. Finally, First Trust Advisors LP raised its holdings in shares of Worthington Industries by 42.0% during the second quarter. First Trust Advisors LP now owns 68,729 shares of the industrial products company’s stock worth $3,452,000 after acquiring an additional 20,336 shares during the period. Institutional investors and hedge funds own 54.38% of the company’s stock.
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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