Bank of New York Mellon Corp Sells 417 Shares of Worthington Industries, Inc. (NYSE:WOR)

Bank of New York Mellon Corp cut its stake in Worthington Industries, Inc. (NYSE:WOR) by 0.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 507,337 shares of the industrial products company’s stock after selling 417 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.02% of Worthington Industries worth $35,245,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Jackson Creek Investment Advisors LLC bought a new position in shares of Worthington Industries in the second quarter valued at about $1,085,000. MAI Capital Management raised its position in shares of Worthington Industries by 22.5% in the second quarter. MAI Capital Management now owns 5,486 shares of the industrial products company’s stock valued at $381,000 after purchasing an additional 1,009 shares during the period. Bank of Montreal Can bought a new position in shares of Worthington Industries in the second quarter valued at about $535,000. State of New Jersey Common Pension Fund D raised its position in shares of Worthington Industries by 9.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 42,684 shares of the industrial products company’s stock valued at $2,965,000 after purchasing an additional 3,536 shares during the period. Finally, Sigma Planning Corp bought a new position in shares of Worthington Industries in the second quarter valued at about $528,000. 45.30% of the stock is owned by institutional investors.

Worthington Industries Price Performance

NYSE:WOR opened at $61.81 on Thursday. Worthington Industries, Inc. has a 52 week low of $48.16 and a 52 week high of $77.42. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 10.64 and a beta of 1.35. The firm’s 50-day simple moving average is $65.28 and its 200 day simple moving average is $65.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.17 and a current ratio of 1.95.

Worthington Industries (NYSE:WOR) last announced its quarterly earnings data on Thursday, September 28th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.23 billion. Worthington Industries had a net margin of 6.14% and a return on equity of 17.66%. The business’s revenue for the quarter was down 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 earnings per share. As a group, sell-side analysts predict that Worthington Industries, Inc. will post 5.55 earnings per share for the current year.

Worthington Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.28 dividend on an annualized basis and a yield of 2.07%. Worthington Industries’s payout ratio is 22.03%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. TheStreet lowered shares of Worthington Industries from a “b” rating to a “c+” rating in a research report on Monday, October 2nd. StockNews.com assumed coverage on shares of Worthington Industries in a research report on Thursday, October 5th. They set a “buy” rating on the stock.

Worthington Industries Company Profile

Worthington Industries, Inc, an industrial manufacturing company, focuses on value-added steel processing, laser welded solutions, electrical steel laminations and manufactured consumer, building and sustainable mobility products in North America and internationally. It operates through Steel Processing, Consumer Products, Building Products, and Sustainable Energy Solutions segments.