HRT Financial LP Invests $2.62 Million in Worthington Industries, Inc. (NYSE:WOR)

HRT Financial LP bought a new position in Worthington Industries, Inc. (NYSE:WOR) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,590 shares of the industrial products company’s stock, valued at approximately $2,624,000. HRT Financial LP owned about 0.08% of Worthington Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of WOR. Tower Research Capital LLC TRC lifted its position in Worthington Industries by 33.5% during the first quarter. Tower Research Capital LLC TRC now owns 1,378 shares of the industrial products company’s stock valued at $89,000 after buying an additional 346 shares in the last quarter. Huntington National Bank lifted its position in Worthington Industries by 12.1% during the fourth quarter. Huntington National Bank now owns 1,642 shares of the industrial products company’s stock valued at $82,000 after buying an additional 177 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Worthington Industries by 224.3% during 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 buying an additional 1,236 shares in the last quarter. Point72 Hong Kong Ltd lifted its position in Worthington Industries by 1,470.4% during the first quarter. Point72 Hong Kong Ltd now owns 1,806 shares of the industrial products company’s stock valued at $93,000 after buying an additional 1,691 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Worthington Industries by 11.2% during the first quarter. FMR LLC now owns 2,146 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 216 shares during the period. 45.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WOR shares. StockNews.com started coverage on shares of Worthington Industries in a research note on Thursday, August 17th. They set a “buy” rating on the stock. BMO Capital Markets lifted their price objective on shares of Worthington Industries from $60.00 to $68.00 and gave the company a “market perform” rating in a research note on Friday, June 30th.

Worthington Industries Stock Down 0.6 %

Shares of NYSE:WOR opened at $74.23 on Thursday. The company has a current ratio of 2.60, a quick ratio of 1.76 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $72.06 and a 200 day simple moving average of $63.93. The firm has a market cap of $3.71 billion, a PE ratio of 14.33 and a beta of 1.29. Worthington Industries, Inc. has a 12-month low of $38.01 and a 12-month high of $77.42.

Worthington Industries (NYSE:WOR) last issued its quarterly earnings results on Thursday, June 29th. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.84. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.37 billion. Worthington Industries had a net margin of 5.22% and a return on equity of 16.96%. The business’s revenue was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 earnings per share. On average, equities research analysts anticipate that Worthington Industries, Inc. will post 5.65 EPS for the current fiscal year.

Worthington Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.32 per share. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 annualized dividend and a yield of 1.72%. Worthington Industries’s payout ratio is presently 23.94%.

Insider Buying and Selling at Worthington Industries

In other Worthington Industries news, Director Kerrii B. Anderson sold 5,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $72.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now owns 64,415 shares in the company, valued at $4,637,880. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Kerrii B. Anderson sold 5,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $72.00, for a total transaction of $360,000.00. Following the completion of the transaction, the director now owns 64,415 shares of the company’s stock, valued at $4,637,880. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Joseph B. Hayek sold 21,100 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $68.95, for a total transaction of $1,454,845.00. Following the completion of the transaction, the chief financial officer now owns 133,080 shares of the company’s stock, valued at approximately $9,175,866. The disclosure for this sale can be found here. Insiders sold a total of 86,311 shares of company stock worth $6,106,132 over the last 90 days. Insiders own 38.50% of the company’s stock.

Worthington Industries Profile

Worthington Industries, Inc, an industrial manufacturing company, focuses on value-added steel processing, laser welded solutions, electrical steel laminations and 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.