Russell Investments Group Ltd. Decreases Stock Holdings in Worthington Industries, Inc. (NYSE:WOR)

Russell Investments Group Ltd. trimmed its position in shares of Worthington Industries, Inc. (NYSE:WOR – Get Rating) by 9.7% during the 4th quarter, Holdings Channel reports. The fund owned 31,820 shares of the industrial products company’s stock after selling 3,433 shares during the period. Russell Investments Group Ltd.’s holdings in Worthington Industries were worth $1,582,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WOR. JPMorgan Chase & Co. raised its holdings in shares of Worthington Industries by 6.8% during the 1st quarter. JPMorgan Chase & Co. now owns 195,470 shares of the industrial products company’s stock worth $10,049,000 after acquiring an additional 12,396 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Worthington Industries by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 574,534 shares of the industrial products company’s stock valued at $29,538,000 after purchasing an additional 3,213 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Worthington Industries by 41.6% during the 1st quarter. MetLife Investment Management LLC now owns 38,363 shares of the industrial products company’s stock valued at $1,972,000 after purchasing an additional 11,272 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Worthington Industries by 25.0% during the 1st quarter. Panagora Asset Management Inc. now owns 17,946 shares of the industrial products company’s stock valued at $923,000 after purchasing an additional 3,592 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Worthington Industries by 11.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,947 shares of the industrial products company’s stock valued at $614,000 after purchasing an additional 1,222 shares during the last quarter. 45.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Worthington Industries

In other news, Chairman John P/Oh Mcconnell sold 17,000 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $57.52, for a total transaction of $977,840.00. Following the transaction, the chairman now owns 1,338,633 shares of the company’s stock, valued at approximately $76,998,170.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman John P/Oh Mcconnell sold 17,000 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $57.52, for a total transaction of $977,840.00. Following the transaction, the chairman now owns 1,338,633 shares of the company’s stock, valued at approximately $76,998,170.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Catherine M. Lyttle sold 10,000 shares of the stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $62.90, for a total value of $629,000.00. Following the transaction, the senior vice president now directly owns 53,984 shares in the company, valued at approximately $3,395,593.60. The disclosure for this sale can be found here. 39.20% of the stock is currently owned by corporate insiders.

Worthington Industries Stock Performance

Shares of Worthington Industries stock opened at $58.51 on Wednesday. The stock’s fifty day moving average is $59.18 and its two-hundred day moving average is $56.76. The company has a market capitalization of $2.91 billion, a PE ratio of 14.00 and a beta of 1.25. The company has a quick ratio of 1.67, a current ratio of 2.57 and a debt-to-equity ratio of 0.40. Worthington Industries, Inc. has a 52 week low of $38.01 and a 52 week high of $65.17.

Worthington Industries (NYSE:WOR – Get Rating) last announced its quarterly earnings data on Wednesday, March 22nd. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.70 by $0.34. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $909.00 million. Worthington Industries had a return on equity of 13.98% and a net margin of 3.97%. Worthington Industries’s quarterly revenue was down 19.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.13 EPS. As a group, analysts expect that Worthington Industries, Inc. will post 4.93 earnings per share for the current year.

Worthington Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.12%. The ex-dividend date is Wednesday, June 14th. Worthington Industries’s dividend payout ratio (DPR) is presently 29.67%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WOR shares. BMO Capital Markets boosted their target price on Worthington Industries from $54.00 to $60.00 in a research report on Friday, March 24th. StockNews.com started coverage on Worthington Industries in a research report on Thursday, May 18th. They set a “buy” rating on the stock.

About Worthington Industries

(Get Rating)

Worthington Industries, Inc engages in processing of value-added steel and manufacturing of metal products. It operates through the following segments: Steel Processing and Pressure Cylinders. The Steel Processing segment consists of Worthington Steel business unit and consolidated joint ventures, which operates steel business and its prices.