Worthington Industries, Inc. (NYSE:WOR) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,014,300 shares, a growth of 9.5% from the May 15th total of 926,100 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average daily volume of 175,200 shares, the days-to-cover ratio is currently 5.8 days.
WOR has been the subject of a number of research reports. TheStreet cut Worthington Industries from a “b-” rating to a “c+” rating in a research note on Monday, June 10th. Zacks Investment Research cut Zafgen from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $44.67.
In other Worthington Industries news, SVP Catherine M. Lyttle sold 4,000 shares of Worthington Industries stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $40.47, for a total value of $161,880.00. Following the sale, the senior vice president now owns 30,408 shares in the company, valued at $1,230,611.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Blystone bought 644 shares of Worthington Industries stock in a transaction on Monday, July 1st. The stock was acquired at an average price of $40.00 per share, for a total transaction of $25,760.00. Following the transaction, the director now directly owns 185,311 shares of the company’s stock, valued at $7,412,440. The disclosure for this purchase can be found here. 33.20% of the stock is owned by insiders.
Shares of NYSE WOR traded up $0.23 during trading on Friday, reaching $39.66. The stock had a trading volume of 232,854 shares, compared to its average volume of 310,651. Worthington Industries has a fifty-two week low of $31.42 and a fifty-two week high of $48.57. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.98 and a current ratio of 1.67. The stock has a 50-day moving average price of $37.83. The stock has a market capitalization of $2.27 billion, a P/E ratio of 14.32 and a beta of 1.18.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings data on Wednesday, June 26th. The industrial products company reported $0.77 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.77. Worthington Industries had a return on equity of 17.33% and a net margin of 4.08%. The business 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 firm posted $0.95 earnings per share. The company’s revenue was down 8.0% on a year-over-year basis. Research analysts expect that Worthington Industries will post 3.28 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.42%. This is a boost from Worthington Industries’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, September 12th. Worthington Industries’s payout ratio is presently 33.21%.
About Worthington Industries
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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