Baird Financial Group Inc. Sells 28,490 Shares of Worthington Industries, Inc. (NYSE:WOR)

Baird Financial Group Inc. lessened its holdings in shares of Worthington Industries, Inc. (NYSE:WORGet Rating) by 52.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 26,207 shares of the industrial products company’s stock after selling 28,490 shares during the period. Baird Financial Group Inc.’s holdings in Worthington Industries were worth $1,155,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. BlackRock Inc. lifted its stake in Worthington Industries by 13.0% in the 1st quarter. BlackRock Inc. now owns 4,571,279 shares of the industrial products company’s stock valued at $235,012,000 after acquiring an additional 526,776 shares in the last quarter. State Street Corp lifted its stake in Worthington Industries by 18.1% in the 1st quarter. State Street Corp now owns 2,010,543 shares of the industrial products company’s stock valued at $103,362,000 after acquiring an additional 307,667 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Worthington Industries by 13.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,454,984 shares of the industrial products company’s stock valued at $64,165,000 after acquiring an additional 175,149 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Worthington Industries in the 2nd quarter valued at approximately $7,269,000. Finally, Dimensional Fund Advisors LP lifted its stake in Worthington Industries by 6.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,809,125 shares of the industrial products company’s stock valued at $93,007,000 after acquiring an additional 108,764 shares in the last quarter. Institutional investors own 53.29% of the company’s stock.

Worthington Industries Stock Down 0.4 %

NYSE:WOR opened at $55.70 on Friday. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 9.03 and a beta of 1.17. Worthington Industries, Inc. has a twelve month low of $38.01 and a twelve month high of $62.83. The stock’s 50 day moving average price is $48.18 and its two-hundred day moving average price is $47.62. The company has a quick ratio of 1.25, a current ratio of 2.17 and a debt-to-equity ratio of 0.42.

Worthington Industries (NYSE:WORGet Rating) last posted its quarterly earnings results on Thursday, September 29th. The industrial products company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.35 billion. Worthington Industries had a return on equity of 19.95% and a net margin of 5.61%. The business’s quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 EPS. Equities research analysts expect that Worthington Industries, Inc. will post 5.34 earnings per share for the current fiscal year.

Worthington Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 15th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Wednesday, December 14th. Worthington Industries’s payout ratio is presently 20.10%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. StockNews.com assumed coverage on Worthington Industries in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. BMO Capital Markets lowered their price target on Worthington Industries from $58.00 to $52.00 and set a “market perform” rating on the stock in a research report on Friday, September 30th.

Insider Buying and Selling

In other Worthington Industries news, Director David P. Blom bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The shares were acquired at an average cost of $41.29 per share, with a total value of $206,450.00. Following the acquisition, the director now owns 17,200 shares of the company’s stock, valued at $710,188. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 39.20% of the stock is owned by insiders.

About Worthington Industries

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Worthington Industries, Inc, an industrial manufacturing company, focuses on value-added steel processing, 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.

See Also

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Institutional Ownership by Quarter for Worthington Industries (NYSE:WOR)

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