Denali Advisors LLC cut its holdings in Worthington Industries, Inc. (NYSE:WOR – Get Rating) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,383 shares of the industrial products company’s stock after selling 2,478 shares during the quarter. Worthington Industries accounts for 1.9% of Denali Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Denali Advisors LLC owned 0.14% of Worthington Industries worth $4,615,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Center for Financial Planning Inc. acquired a new position in Worthington Industries in the fourth quarter valued at $25,000. Romano Brothers AND Company acquired a new position in Worthington Industries in the fourth quarter valued at $50,000. Accurate Wealth Management LLC acquired a new position in Worthington Industries in the fourth quarter valued at $54,000. Huntington National Bank increased its stake in Worthington Industries by 12.1% in the fourth quarter. Huntington National Bank now owns 1,642 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 177 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Worthington Industries by 224.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,787 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 1,236 shares during the last quarter. 45.30% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms recently commented on WOR. BMO Capital Markets upped their target price on Worthington Industries from $54.00 to $60.00 in a research note on Friday, March 24th. StockNews.com started coverage on Worthington Industries in a research note on Thursday, May 18th. They set a “buy” rating for the company.
Insider Activity
In other news, Chairman John P/Oh Mcconnell sold 17,000 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $57.52, for a total value of $977,840.00. Following the completion of the sale, the chairman now owns 1,338,633 shares in the company, valued at $76,998,170.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman John P/Oh Mcconnell sold 17,000 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $57.52, for a total value of $977,840.00. Following the completion of the sale, the chairman now owns 1,338,633 shares in the company, valued at $76,998,170.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Catherine M. Lyttle sold 10,000 shares of the stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $62.90, for a total value of $629,000.00. Following the completion of the sale, the senior vice president now owns 53,984 shares of the company’s stock, valued at approximately $3,395,593.60. The disclosure for this sale can be found here. Insiders own 39.20% of the company’s stock.
Worthington Industries Trading Down 1.0 %
NYSE:WOR traded down $0.61 on Friday, hitting $60.64. 25,686 shares of the stock were exchanged, compared to its average volume of 161,940. The stock has a market cap of $3.02 billion, a PE ratio of 14.64 and a beta of 1.25. The company has a current ratio of 2.57, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average of $59.22 and a 200-day moving average of $57.45. Worthington Industries, Inc. has a fifty-two week low of $38.01 and a fifty-two week high of $65.17.
Worthington Industries (NYSE:WOR – Get Rating) last announced its quarterly earnings results on Wednesday, March 22nd. The industrial products company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.70 by $0.34. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $909.00 million. Worthington Industries had a return on equity of 13.98% and a net margin of 3.97%. The firm’s revenue was down 19.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 earnings per share. As a group, equities analysts expect that Worthington Industries, Inc. will post 4.93 earnings per share for the current fiscal year.
About Worthington Industries
Worthington Industries, Inc, an industrial manufacturing company, focuses on…
Read More: Worthington Industries, Inc. (NYSE:WOR) Stake Decreased by Denali Advisors LLC