Worthington Industries (NYSE:WOR) Issues Earnings Results

Worthington Industries (NYSE:WOR) released its quarterly earnings data on Wednesday, June 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77, Briefing.com reports. Worthington Industries had a net margin of 4.08% and a return on equity of 17.33%. The company had revenue of $938.80 million during the quarter, compared to analysts’ expectations of $986.47 million. During the same period in the previous year, the company earned $0.95 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis.

NYSE WOR traded up $0.23 during mid-day trading on Friday, reaching $39.66. 232,800 shares of the stock were exchanged, compared to its average volume of 220,277. The business has a 50 day simple moving average of $37.83. Worthington Industries has a 1 year low of $31.42 and a 1 year high of $48.57. The stock has a market cap of $2.24 billion, a P/E ratio of 14.32 and a beta of 1.18. The company has a quick ratio of 0.98, a current ratio of 1.67 and a debt-to-equity ratio of 0.63.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, September 12th. This is an increase from Worthington Industries’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 2.42%. Worthington Industries’s dividend payout ratio is 33.21%.

Several brokerages have recently weighed in on WOR. TheStreet cut shares of Worthington Industries from a “b-” rating to a “c+” rating in a research report on Monday, June 10th. Zacks Investment Research raised shares of Booz Allen Hamilton from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Worthington Industries presently has an average rating of “Hold” and an average target price of $44.67.

In other Worthington Industries news, SVP Catherine M. Lyttle sold 4,000 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $40.47, for a total transaction of $161,880.00. Following the transaction, the senior vice president now directly owns 30,408 shares of the company’s stock, valued at $1,230,611.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John B. Blystone purchased 644 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was acquired at an average cost of $40.00 per share, for a total transaction of $25,760.00. Following the completion of the purchase, the director now owns 185,311 shares of the company’s stock, valued at approximately $7,412,440. The disclosure for this purchase can be found here. Corporate insiders own 33.20% of the company’s stock.

Worthington Industries Company Profile

Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.

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Earnings History for Worthington Industries (NYSE:WOR)

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