Worthington Industries, Inc. (NYSE:WOR) to Post Q1 2023 Earnings of $1.75 Per Share, Seaport Res Ptn Forecasts

Worthington Industries, Inc. (NYSE:WOR – Get Rating) – Seaport Res Ptn increased their Q1 2023 earnings per share estimates for Worthington Industries in a research note issued to investors on Wednesday, July 27th. Seaport Res Ptn analyst M. Englert now anticipates that the industrial products company will post earnings per share of $1.75 for the quarter, up from their prior forecast of $1.07. The consensus estimate for Worthington Industries’ current full-year earnings is $4.76 per share. Seaport Res Ptn also issued estimates for Worthington Industries’ FY2023 earnings at $6.43 EPS.

Separately, StockNews.com raised Worthington Industries from a “sell” rating to a “hold” rating in a report on Saturday, June 25th.

Worthington Industries Trading Up 2.8 %

Worthington Industries stock opened at $51.21 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 0.43. Worthington Industries has a 52 week low of $39.13 and a 52 week high of $65.60. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 6.90 and a beta of 0.97. The stock has a 50-day moving average price of $44.95 and a 200 day moving average price of $50.33.

Worthington Industries (NYSE:WOR – Get Rating) last issued its quarterly earnings results on Wednesday, June 22nd. The industrial products company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.75. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.24 billion. Worthington Industries had a return on equity of 23.06% and a net margin of 7.24%.

Worthington Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This is a boost from Worthington Industries’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.42%. Worthington Industries’s payout ratio is 15.09%.

Institutional Trading of Worthington Industries

Large investors have recently made changes to their positions in the company. Denali Advisors LLC increased its position in shares of Worthington Industries by 134.5% during the first quarter. Denali Advisors LLC now owns 75,500 shares of the industrial products company’s stock worth $3,881,000 after purchasing an additional 43,300 shares in the last quarter. Comerica Bank increased its position in shares of Worthington Industries by 1.5% during the first quarter. Comerica Bank now owns 15,737 shares of the industrial products company’s stock worth $907,000 after purchasing an additional 235 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Worthington Industries during the first quarter worth approximately $235,000. Renaissance Technologies LLC increased its position in shares of Worthington Industries by 14.8% during the fourth quarter. Renaissance Technologies LLC now owns 118,657 shares of the industrial products company’s stock worth $6,486,000 after purchasing an additional 15,257 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Worthington Industries by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,700,361 shares of the industrial products company’s stock worth $92,939,000 after purchasing an additional 8,144 shares in the last quarter. 45.96% of the stock is currently owned by hedge funds and other institutional investors.

About Worthington Industries

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Worthington Industries, Inc, an industrial manufacturing company, focuses on value-added steel processing and manufactured metal products in North America and internationally. It operates through Steel Processing, Consumer Products, Building Products, and Sustainable Energy Solutions segments. The Steel Processing segment processes flat-rolled steel for customers primarily in the automotive, aerospace, agricultural, appliance, construction, container, hardware, heavy-truck, HVAC, lawn and garden, leisure and recreation, office furniture, and office equipment markets.