Worthington Industries, Inc. (WOR) Shares Sold by Cambria Investment Management L.P.

Cambria Investment Management L.P. decreased its stake in shares of Worthington Industries, Inc. (NYSE:WOR) by 4.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 18,270 shares of the industrial products company’s stock after selling 900 shares during the period. Cambria Investment Management L.P.’s holdings in Worthington Industries were worth $682,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Texas Permanent School Fund lifted its holdings in Worthington Industries by 1.3% during the 1st quarter. Texas Permanent School Fund now owns 26,658 shares of the industrial products company’s stock valued at $995,000 after buying an additional 330 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Worthington Industries by 12.5% in the 4th quarter. Bank of Montreal Can now owns 3,250 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 360 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Worthington Industries by 5.8% in the 1st quarter. Wedge Capital Management L L P NC now owns 8,187 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 451 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Worthington Industries by 5.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 15,351 shares of the industrial products company’s stock valued at $535,000 after purchasing an additional 845 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of Worthington Industries by 1.7% in the 1st quarter. LSV Asset Management now owns 53,600 shares of the industrial products company’s stock valued at $2,000,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 48.09% of the company’s stock.

NYSE:WOR opened at $35.53 on Friday. Worthington Industries, Inc. has a one year low of $31.42 and a one year high of $49.65. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.13 and a quick ratio of 1.27. The stock has a market capitalization of $2.14 billion, a PE ratio of 12.34 and a beta of 1.02.

Worthington Industries (NYSE:WOR) last posted its quarterly earnings results on Wednesday, March 20th. The industrial products company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.56 by $0.06. Worthington Industries had a net margin of 3.81% and a return on equity of 18.38%. The business had revenue of $874.38 million during the quarter, compared to analyst estimates of $927.32 million. Research analysts forecast that Worthington Industries, Inc. will post 2.76 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.23 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.92 annualized dividend and a dividend yield of 2.59%. Worthington Industries’s dividend payout ratio is currently 31.94%.

In other news, Director Sidney A. Ribeau sold 9,750 shares of the business’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $40.41, for a total value of $393,997.50. Following the completion of the sale, the director now owns 52,369 shares in the company, valued at approximately $2,116,231.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark C. Davis sold 14,985 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $39.57, for a total transaction of $592,956.45. Following the completion of the sale, the director now owns 35,165 shares of the company’s stock, valued at approximately $1,391,479.05. The disclosure for this sale can be found here. Insiders own 33.20% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Worthington Industries from a “sell” rating to a “hold” rating in a report on Friday, March 8th.

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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.

Further Reading: Call Option Volume

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Institutional Ownership by Quarter for Worthington Industries (NYSE:WOR)

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