Geoffrey G. Gilmore Sells 32,500 Shares of Worthington Industries, Inc. (NYSE:WOR) Stock

Worthington Industries, Inc. (NYSE:WOR) insider Geoffrey G. Gilmore sold 32,500 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $50.85, for a total transaction of $1,652,625.00. Following the completion of the transaction, the insider now directly owns 86,477 shares in the company, valued at approximately $4,397,355.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Worthington Industries, Inc. (NYSE:WOR) opened at 48.23 on Friday. Worthington Industries, Inc. has a 12-month low of $39.28 and a 12-month high of $62.44. The stock’s 50 day moving average price is $50.87 and its 200-day moving average price is $47.11. The company has a market cap of $3.05 billion, a PE ratio of 15.31 and a beta of 1.14.

Worthington Industries (NYSE:WOR) last posted its quarterly earnings data on Wednesday, June 28th. The industrial products company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.04. The company had revenue of $845.30 million for the quarter, compared to analysts’ expectations of $785.58 million. Worthington Industries had a net margin of 6.78% and a return on equity of 20.59%. Worthington Industries’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share. On average, equities research analysts forecast that Worthington Industries, Inc. will post $3.33 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.74%. This is a boost from Worthington Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, September 12th.

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A number of equities analysts have issued reports on the stock. BidaskClub cut shares of Worthington Industries from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Jefferies Group LLC raised their target price on shares of Worthington Industries from $45.00 to $47.00 and gave the stock a “hold” rating in a report on Friday, June 30th. Finally, Zacks Investment Research raised shares of Worthington Industries from a “sell” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Worthington Industries currently has a consensus rating of “Hold” and an average price target of $47.33.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Worthington Industries by 1.2% in the second quarter. BlackRock Inc. now owns 5,352,354 shares of the industrial products company’s stock valued at $268,796,000 after buying an additional 64,589 shares during the period. State Street Corp boosted its position in Worthington Industries by 7.8% in the first quarter. State Street Corp now owns 2,372,663 shares of the industrial products company’s stock valued at $106,987,000 after buying an additional 171,756 shares during the period. Dimensional Fund Advisors LP boosted its position in Worthington Industries by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,682,457 shares of the industrial products company’s stock valued at $84,487,000 after buying an additional 17,185 shares during the period. AQR Capital Management LLC boosted its position in Worthington Industries by 5.6% in the first quarter. AQR Capital Management LLC now owns 1,646,104 shares of the industrial products company’s stock valued at $74,223,000 after buying an additional 87,117 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Worthington Industries by 33.7% in the first quarter. Bank of New York Mellon Corp now owns 1,249,841 shares of the industrial products company’s stock valued at $56,355,000 after buying an additional 315,238 shares during the period. Institutional investors own 54.13% of the company’s stock.

About Worthington Industries

Worthington Industries, Inc is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors.

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