Short Interest in Worthington Industries, Inc. (NYSE:WOR) Decreases By 18.7%

Worthington Industries, Inc. (NYSE:WOR) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 382,000 shares, a decline of 18.7% from the August 15th total of 470,100 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily volume of 182,400 shares, the days-to-cover ratio is currently 2.1 days.

Worthington Industries Stock Down 3.0 %

Shares of WOR traded down $2.09 on Friday, reaching $68.41. The company’s stock had a trading volume of 682,928 shares, compared to its average volume of 162,348. The company has a current ratio of 2.60, a quick ratio of 1.76 and a debt-to-equity ratio of 0.38. Worthington Industries has a twelve month low of $38.01 and a twelve month high of $77.42. The stock has a market capitalization of $3.42 billion, a PE ratio of 13.21 and a beta of 1.29. The firm has a fifty day moving average of $72.40 and a 200-day moving average of $64.45.

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

Worthington Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.31. Worthington Industries’s dividend payout ratio is currently 24.71%.

Insider Buying and Selling

In other Worthington Industries news, Director Ozey K. Horton, Jr. sold 1,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $74.66, for a total transaction of $74,660.00. Following the sale, the director now owns 39,069 shares of the company’s stock, valued at $2,916,891.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Worthington Industries news, Director Ozey K. Horton, Jr. sold 1,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $74.66, for a total transaction of $74,660.00. Following the sale, the director now owns 39,069 shares of the company’s stock, valued at $2,916,891.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kerrii B. Anderson sold 5,000 shares of the company’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 sale, the director now directly owns 64,415 shares in the company, valued at approximately $4,637,880. The disclosure for this sale can be found here. Insiders have sold a total of 86,311 shares of company stock valued at $6,106,132 over the last 90 days. 38.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Worthington Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. increased its stake in Worthington Industries by 1.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,314 shares of the industrial products company’s stock valued at $717,000 after buying an additional 159 shares during the last quarter. Cardinal Capital Management increased its stake in Worthington Industries by 1.5% in the 2nd quarter. Cardinal Capital Management now owns 12,192 shares of the industrial products company’s stock valued at $847,000 after buying an additional 177 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Worthington Industries by 2.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 7,582 shares of the industrial products company’s stock valued at $490,000 after buying an additional 189 shares during the last quarter. FMR LLC increased its stake in Worthington Industries by 11.2% in the 1st quarter. FMR LLC now owns 2,146 shares of the industrial products company’s stock valued at $139,000 after buying an additional 216 shares during the last quarter. Finally, Belpointe Asset Management LLC increased its stake in Worthington Industries by 5.5% in the 1st quarter. Belpointe Asset Management LLC now owns 4,221 shares of the industrial products company’s stock valued at $273,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 45.30% of the company’s stock.

Wall Street Analysts Forecast Growth

WOR has been the topic of several research reports. StockNews.com initiated coverage on shares of Worthington Industries in a report on Thursday, August 17th. They set a “buy” rating on the stock. BMO Capital Markets upped their price objective on shares of Worthington Industries from $60.00 to $68.00 and gave the company a “market perform” rating in a report on Friday, June 30th.

Worthington Industries Company 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.