Wall Street analysts predict that Worthington Industries, Inc. (NYSE:WOR) will report sales of $1.01 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Worthington Industries’ earnings, with the lowest sales estimate coming in at $982.60 million and the highest estimate coming in at $1.06 billion. Worthington Industries posted sales of $848.24 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 19.1%. The business is expected to announce its next quarterly earnings report before the market opens on Wednesday, September 26th.
On average, analysts expect that Worthington Industries will report full year sales of $4.02 billion for the current fiscal year, with estimates ranging from $3.88 billion to $4.22 billion. For the next fiscal year, analysts anticipate that the company will post sales of $4.09 billion per share, with estimates ranging from $3.81 billion to $4.38 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Worthington Industries.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings data on Wednesday, June 27th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.09). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $935.50 million. Worthington Industries had a return on equity of 17.39% and a net margin of 5.44%. Worthington Industries’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.87 earnings per share.
WOR stock traded up $0.35 during mid-day trading on Thursday, reaching $44.26. The company’s stock had a trading volume of 293,649 shares, compared to its average volume of 159,507. The company has a market cap of $2.65 billion, a P/E ratio of 15.17 and a beta of 0.99. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.22 and a current ratio of 1.92. Worthington Industries has a 12 month low of $39.52 and a 12 month high of $52.66.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.23 per share. This is an increase from Worthington Industries’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.92 annualized dividend and a dividend yield of 2.08%. Worthington Industries’s payout ratio is currently 29.17%.
In other news, Director Sidney A. Ribeau sold 8,200 shares of the business’s stock in a transaction that occurred on Friday, June 29th. The stock was sold at an average price of $42.42, for a total transaction of $347,844.00. Following the completion of the sale, the director now owns 48,119 shares in the company, valued at $2,041,207.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman John P/Oh Mcconnell sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $46.00, for a total value of $4,600,000.00. Following the sale, the chairman now owns 1,766,699 shares of the company’s stock, valued at approximately $81,268,154. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,751 shares of company stock valued at $5,628,976. Corporate insiders own 31.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Worthington Industries by 4.2% during the first quarter. BlackRock Inc. now owns 5,479,063 shares of the industrial products company’s stock valued at $235,162,000 after buying an additional 220,509 shares during the last quarter. Matarin Capital Management LLC purchased a new position in shares of Worthington Industries during the first quarter valued at approximately $8,931,000. Victory Capital Management Inc. boosted its position in shares of Worthington Industries by 9.2% during the second quarter. Victory Capital Management Inc. now owns 1,388,897 shares of the industrial products company’s stock valued at $58,292,000 after buying an additional 116,552 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Worthington Industries by 10.8% during the second quarter. Macquarie Group Ltd. now owns 1,151,872 shares of the industrial products company’s stock valued at $48,344,000 after buying an additional 112,524 shares during the last quarter. Finally, Fisher Asset Management LLC purchased a new position in shares of Worthington Industries during the second quarter valued at approximately $4,430,000. Hedge funds and other institutional investors own 50.56% of the company’s stock.
About Worthington Industries
Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.
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