Bank of Montreal Can Takes Position in Worthington Industries, Inc. (NYSE:WOR)

Bank of Montreal Can purchased a new stake in shares of Worthington Industries, Inc. (NYSE:WOR) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,672 shares of the industrial products company’s stock, valued at approximately $535,000.

A number of other hedge funds have also recently made changes to their positions in WOR. Tower Research Capital LLC TRC boosted its stake in shares of Worthington Industries by 33.5% during the first quarter. Tower Research Capital LLC TRC now owns 1,378 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 346 shares in the last quarter. Point72 Hong Kong Ltd lifted its stake in shares of Worthington Industries by 1,470.4% in the first quarter. Point72 Hong Kong Ltd now owns 1,806 shares of the industrial products company’s stock worth $93,000 after acquiring an additional 1,691 shares during the period. Point72 Middle East FZE acquired a new position in shares of Worthington Industries in the fourth quarter worth approximately $120,000. FMR LLC lifted its stake in shares of Worthington Industries by 11.2% in the first quarter. FMR LLC now owns 2,146 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 216 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Worthington Industries by 33.6% in the first quarter. Federated Hermes Inc. now owns 2,842 shares of the industrial products company’s stock worth $146,000 after acquiring an additional 714 shares during the period. 45.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Worthington Industries Price Performance

Shares of WOR opened at $64.58 on Friday. Worthington Industries, Inc. has a 52-week low of $48.16 and a 52-week high of $77.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.17 and a current ratio of 1.95. The business’s 50 day moving average price is $64.13 and its two-hundred day moving average price is $65.38. The firm has a market cap of $3.23 billion, a PE ratio of 11.12 and a beta of 1.35.

Worthington Industries (NYSE:WOR) last issued its quarterly earnings results on Thursday, September 28th. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. Worthington Industries had a return on equity of 17.66% and a net margin of 6.14%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the firm earned $1.61 earnings per share. The company’s revenue was down 15.3% compared to the same quarter last year. On average, equities analysts anticipate that Worthington Industries, Inc. will post 5.55 EPS for the current year.

Worthington Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Tuesday, November 14th. Worthington Industries’s dividend payout ratio (DPR) is presently 22.03%.

About Worthington Industries

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.