Arizona State Retirement System Buys 229 Shares of Worthington Industries, Inc. (NYSE:WOR)

Arizona State Retirement System lifted its stake in shares of Worthington Industries, Inc. (NYSE:WOR – Get Rating) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,084 shares of the industrial products company’s stock after acquiring an additional 229 shares during the period. Arizona State Retirement System’s holdings in Worthington Industries were worth $452,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Center for Financial Planning Inc. bought a new stake in shares of Worthington Industries during the fourth quarter worth $25,000. Romano Brothers AND Company bought a new position in Worthington Industries in the fourth quarter valued at $50,000. Accurate Wealth Management LLC acquired a new stake in Worthington Industries in the 4th quarter valued at $54,000. Point72 Hong Kong Ltd increased its stake in Worthington Industries by 1,470.4% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,806 shares of the industrial products company’s stock valued at $93,000 after buying an additional 1,691 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Worthington Industries by 33.6% in the 1st quarter. Federated Hermes Inc. now owns 2,842 shares of the industrial products company’s stock valued at $146,000 after buying an additional 714 shares during the last quarter. Institutional investors own 45.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WOR. BMO Capital Markets lifted their price target on shares of Worthington Industries from $54.00 to $60.00 in a research note on Friday, March 24th. StockNews.com began coverage on shares of Worthington Industries in a research note on Thursday. They issued a “buy” rating on the stock.

Worthington Industries Stock Up 0.2 %

Shares of WOR stock opened at $57.65 on Friday. The firm has a market capitalization of $2.87 billion, a P/E ratio of 13.79 and a beta of 1.25. The firm’s fifty day moving average price is $59.12 and its two-hundred day moving average price is $56.56. Worthington Industries, Inc. has a 1 year low of $38.01 and a 1 year high of $65.17. The company has a current ratio of 2.57, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40.

Worthington Industries (NYSE:WOR – Get Rating) last released its quarterly earnings data on Wednesday, March 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.34. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $909.00 million. Worthington Industries had a net margin of 3.97% and a return on equity of 13.98%. Worthington Industries’s revenue for the quarter was down 19.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 EPS. On average, equities analysts predict that Worthington Industries, Inc. will post 4.93 EPS for the current fiscal year.

Worthington Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Investors of record on Thursday, June 15th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, June 14th. Worthington Industries’s payout ratio is 29.67%.

Insider Buying and Selling

In related news, SVP Catherine M. Lyttle sold 10,000 shares of Worthington Industries stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $62.90, for a total transaction of $629,000.00. Following the completion of the sale, the senior vice president now owns 53,984 shares of the company’s stock, valued at approximately $3,395,593.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Worthington Industries news, Chairman John P/Oh Mcconnell sold 17,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $57.52, for a total value of $977,840.00. Following the completion of the sale, the chairman now owns 1,338,633 shares of the company’s stock, valued at approximately $76,998,170.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Catherine M. Lyttle sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $62.90, for a total transaction of $629,000.00. Following the completion of the sale, the senior vice president now directly owns 53,984 shares of the company’s stock, valued at approximately $3,395,593.60. The disclosure for this sale can be found here. 39.20% of the stock is currently owned by insiders.

About Worthington Industries

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Worthington Industries, Inc engages in processing of value-added steel and manufacturing of metal products. It operates through the following segments: Steel Processing and Pressure Cylinders. The Steel Processing segment consists of Worthington Steel business unit and consolidated joint ventures, which operates steel business and its prices.