Worthington Industries, Inc. (NYSE:WOR) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 962,400 shares, a drop of 19.1% from the August 30th total of 1,190,000 shares. Based on an average daily volume of 260,400 shares, the days-to-cover ratio is currently 3.7 days. Approximately 2.7% of the company’s shares are short sold.
Several brokerages have recently issued reports on WOR. Zacks Investment Research reaffirmed a “sell” rating on shares of Worthington Industries in a research note on Saturday, September 28th. TheStreet lowered shares of Worthington Industries from a “b-” rating to a “c” rating in a research note on Wednesday, September 25th. Finally, ValuEngine raised shares of Worthington Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st.
A number of institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in Worthington Industries by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,598,557 shares of the industrial products company’s stock worth $64,358,000 after acquiring an additional 99,795 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Worthington Industries by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 734,834 shares of the industrial products company’s stock worth $29,585,000 after acquiring an additional 36,947 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Worthington Industries by 4.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 647,534 shares of the industrial products company’s stock worth $25,195,000 after acquiring an additional 25,194 shares during the last quarter. Geode Capital Management LLC boosted its stake in Worthington Industries by 9.2% during the 4th quarter. Geode Capital Management LLC now owns 436,705 shares of the industrial products company’s stock worth $15,213,000 after acquiring an additional 36,780 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new position in Worthington Industries during the 2nd quarter worth approximately $17,073,000. 45.60% of the stock is currently owned by institutional investors and hedge funds.
Worthington Industries (NYSE:WOR) last released its quarterly earnings data on Wednesday, September 25th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.10). Worthington Industries had a return on equity of 15.28% and a net margin of 2.58%. The firm had revenue of $855.86 million for the quarter, compared to the consensus estimate of $924.00 million. During the same period in the previous year, the business earned $0.92 EPS. The firm’s revenue was down 13.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Worthington Industries will post 2.72 EPS for the current fiscal year.
The company also recently disclosed a — dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.24 per share. This represents a yield of 2.7%. The ex-dividend date of this dividend is Thursday, December 12th. Worthington Industries’s payout ratio is 34.66%.
Worthington Industries Company Profile
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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