Thrivent Financial for Lutherans Reduces Stock Holdings in Worthington Industries, Inc. (NYSE:WOR)

Thrivent Financial for Lutherans reduced its position in shares of Worthington Industries, Inc. (NYSE:WOR – Get Rating) by 72.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,077 shares of the industrial products company’s stock after selling 21,462 shares during the period. Thrivent Financial for Lutherans’ holdings in Worthington Industries were worth $402,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in shares of Worthington Industries by 60.0% during the 4th quarter. SG Americas Securities LLC now owns 4,390 shares of the industrial products company’s stock worth $218,000 after buying an additional 1,646 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Worthington Industries by 3.6% in the third quarter. Envestnet Asset Management Inc. now owns 73,623 shares of the industrial products company’s stock valued at $2,808,000 after purchasing an additional 2,527 shares during the period. Van ECK Associates Corp lifted its stake in shares of Worthington Industries by 76.0% in the 4th quarter. Van ECK Associates Corp now owns 85,792 shares of the industrial products company’s stock valued at $4,265,000 after purchasing an additional 37,056 shares during the last quarter. Foundry Partners LLC increased its position in shares of Worthington Industries by 36.7% during the 4th quarter. Foundry Partners LLC now owns 90,681 shares of the industrial products company’s stock worth $4,508,000 after purchasing an additional 24,362 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Worthington Industries by 9.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,655 shares of the industrial products company’s stock worth $978,000 after purchasing an additional 2,312 shares during the last quarter. 45.30% of the stock is owned by hedge funds and other institutional investors.

Worthington Industries Stock Performance

Shares of Worthington Industries stock opened at $57.36 on Friday. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 13.72 and a beta of 1.25. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.57 and a quick ratio of 1.67. The business has a 50-day moving average of $59.31 and a 200 day moving average of $56.82. Worthington Industries, Inc. has a 12 month low of $38.01 and a 12 month high of $65.17.

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

Worthington Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Wednesday, June 14th. Worthington Industries’s payout ratio is presently 29.67%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on WOR shares. BMO Capital Markets increased their target price on shares of Worthington Industries from $54.00 to $60.00 in a research note on Friday, March 24th. StockNews.com assumed coverage on shares of Worthington Industries in a report on Thursday, May 18th. They issued a “buy” rating for the company.

Insider Transactions at Worthington Industries

In related news, Chairman John P/Oh Mcconnell sold 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $57.52, for a total value of $977,840.00. Following the sale, the chairman now owns 1,338,633 shares of the company’s stock, valued at $76,998,170.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman John P/Oh Mcconnell sold 17,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $57.52, for a total transaction of $977,840.00. Following the completion of the transaction, the chairman now owns 1,338,633 shares in the company, valued at $76,998,170.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Catherine M. Lyttle sold 10,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $3,395,593.60. The disclosure for this sale can be found here. Corporate insiders own 39.20% of the company’s stock.

About Worthington Industries

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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.