As of the 2nd quarter of 2023, Harbor Capital Advisors Inc. has acquired a new stake in Worthington Industries, Inc. (NYSE:WOR), according to its recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,887 shares of the industrial products company’s stock, which is valued at approximately $1,034,000.
Various equities analysts have recently provided their commentary on Worthington Industries’ stock. StockNews.com released a research report on August 17th, stating that they have initiated coverage on the company with a “buy” rating. Additionally, BMO Capital Markets increased their price target on shares of Worthington Industries from $60.00 to $68.00 and assigned the stock a “market perform” rating in a research report published on June 30th.
On Tuesday, September 19th, NYSE:WOR opened at $69.05. Over the past year, Worthington Industries has experienced fluctuations in its stock value, hitting a low of $38.01 and reaching a high of $77.42. Currently, the company holds a current ratio of 2.60 and a quick ratio of 1.76 while maintaining a debt-to-equity ratio of 0.38.
In terms of averages, Worthington Industries displays a 50-day moving average of $72.41 and a 200-day moving average of $64.56. The market capitalization for this firm stands at approximately $3.45 billion with a price-to-earnings ratio of 13.33 and beta value of 1.
Overall, these recent developments indicate continued interest from institutional investors and positive sentiments from equity analysts towards Worthington Industries’ stock performance in the market.
CrowdStrike Holdings, Inc.
CRWD
Buy
Updated on: 03/10/2023
Financial Health
Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Recent Changes in Stakeholder Positions: Worthington Industries Attracts Attention
Worthington Industries, a leading industrial products company, has seen recent changes in its stakeholders’ positions. Several institutional investors have either increased or reduced their holdings in the company’s stock. Commonwealth Equity Services LLC, for example, raised its holdings by 2.6% during the first quarter of this year, acquiring an additional 189 shares and valuing their stake at $490,000. FMR LLC also increased its holdings by 11.2% during the same period, purchasing an additional 216 shares valued at $139,000.
Additionally, Belpointe Asset Management LLC raised its holdings by 5.5%, Alliancebernstein L.P. increased their stake by 0.4%, and Arizona State Retirement System added to their holdings by 3.1%. Overall, institutional investors and hedge funds now own approximately 45.30% of Worthington Industries’ stock.
In other news related to the company, COO Geoffrey G. Gilmore recently sold 32,444 shares in a transaction that took place on July 26th. The average selling price was $73.54 per share, resulting in a total value of $2,385,931.76. After completing this sale, Gilmore now directly owns 174,471 shares of the company’s stock valued at $12,830,597.34.
Director Ozey K. Horton Jr., on the other hand, sold 1,000 shares at an average price of $74.66 per share on July 31st for a total value of $74,660.00. Following this transaction, Horton now owns 39,069 shares worth $2,916,891.54.
The details of these transactions were disclosed through legal filings with the Securities & Exchange Commission (SEC), which can be accessed through the SEC website.
Over the past ninety days alone, insiders within Worthington Industries have sold a total of 86,311 shares, valued at $6,106,132. Corporate insiders currently hold 38.50% of the company’s stock.
Equities analysts have also weighed in on Worthington Industries, providing their insights into the company’s performance. StockNews.com recently gave the stock a “buy” rating in their research report published on August 17th. BMO Capital Markets, meanwhile, increased their price target on the stock from $60 to $68 and rated it as “market perform” in a research report released on June 30th.
In its most recent quarterly earnings report, Worthington Industries announced an earnings per share of $2.74 for the quarter ended June 29th. This beat the consensus estimate of $1.90 by $0.84. The company achieved a net margin of 5.22% and a return on equity of 16.96%. However, its revenue for this quarter was lower than expected at $1.23 billion compared to analyst estimates of $1.37 billion. Year-over-year, the business saw a decline in revenue of 19.2%. Analysts are forecasting that for the current fiscal year, Worthington Industries will post earnings per share of 5.65.
Furthermore, the company has announced a quarterly dividend to be paid on September 29th to shareholders of record as of September 15th. The dividend amounts to $0.32 per share, an increase from its previous quarterly dividend of $0.31 per share. This represents an annualized dividend payment of $1.28 per share and yields investors approximately 1.85%.
Overall, Worthington Industries continues to attract attention from institutional investors and equities analysts alike due to its financial performance and future prospects within the industrial products sector.
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