Short Interest in Worthington Industries, Inc. (NYSE:WOR) Expands By 9.5%

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.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Texas Permanent School Fund grew its stake in Worthington Industries by 3.6% during the 4th quarter. Texas Permanent School Fund now owns 26,328 shares of the industrial products company’s stock worth $917,000 after purchasing an additional 909 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in Worthington Industries by 400.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 29,634 shares of the industrial products company’s stock worth $1,032,000 after purchasing an additional 23,711 shares in the last quarter. Rhumbline Advisers grew its stake in Worthington Industries by 1.2% during the 1st quarter. Rhumbline Advisers now owns 132,027 shares of the industrial products company’s stock worth $4,927,000 after purchasing an additional 1,609 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in Worthington Industries by 130.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 15,412 shares of the industrial products company’s stock worth $537,000 after purchasing an additional 8,716 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new position in Worthington Industries during the 4th quarter worth $286,000. 47.69% of the stock is owned by hedge funds and other institutional investors.

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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