Worthington Industries (WOR) Releases Earnings Results, Misses Estimates By $0.15 EPS

Worthington Industries (NYSE:WOR) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15), MarketWatch Earnings reports. Worthington Industries had a net margin of 5.49% and a return on equity of 18.42%. The business had revenue of $958.20 million for the quarter, compared to analysts’ expectations of $982.10 million. During the same quarter in the prior year, the firm posted $0.65 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year.

Shares of NYSE WOR traded down $3.50 during trading hours on Tuesday, hitting $33.16. 390,519 shares of the company’s stock were exchanged, compared to its average volume of 215,586. Worthington Industries has a 1-year low of $36.60 and a 1-year high of $49.93. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.18 and a current ratio of 1.98. The stock has a market capitalization of $2.21 billion, a PE ratio of 11.51 and a beta of 0.83.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.92 annualized dividend and a dividend yield of 2.77%. Worthington Industries’s dividend payout ratio is presently 31.94%.



A number of analysts have weighed in on the company. Zacks Investment Research raised Worthington Industries from a “sell” rating to a “hold” rating in a research report on Saturday. ValuEngine cut Worthington Industries from a “hold” rating to a “sell” rating in a research report on Friday, December 7th. Jefferies Financial Group reduced their price target on Worthington Industries from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Thursday, September 27th. Finally, JPMorgan Chase & Co. reduced their price target on Worthington Industries from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, September 27th.

Several hedge funds and other institutional investors have recently bought and sold shares of WOR. Matarin Capital Management LLC acquired a new position in shares of Worthington Industries during the 3rd quarter worth about $13,323,000. Macquarie Group Ltd. increased its stake in Worthington Industries by 23.2% during the third quarter. Macquarie Group Ltd. now owns 1,419,669 shares of the industrial products company’s stock valued at $61,557,000 after acquiring an additional 267,797 shares during the period. Thrivent Financial for Lutherans increased its stake in Worthington Industries by 1,435.4% during the third quarter. Thrivent Financial for Lutherans now owns 150,625 shares of the industrial products company’s stock valued at $6,531,000 after acquiring an additional 140,815 shares during the period. Victory Capital Management Inc. increased its stake in Worthington Industries by 8.7% during the third quarter. Victory Capital Management Inc. now owns 1,509,040 shares of the industrial products company’s stock valued at $65,432,000 after acquiring an additional 120,143 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Worthington Industries by 5.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,118,979 shares of the industrial products company’s stock valued at $91,876,000 after acquiring an additional 111,766 shares during the period. 50.87% of the stock is owned by institutional investors and hedge funds.

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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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Earnings History for Worthington Industries (NYSE:WOR)

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