() released its quarterly earnings on Wednesday. Reports. Worthington Industries' net margin was 3.97%, and its return on equity was 13.98%. Worthington Industries revenue for the quarter was down 19.2% from last year's same quarter. In the same quarter last year, the company earned $1.58 per share.
Worthington Industries Stock Performance
During trading hours, the stock rose $0.90 to $63.37. 295,015 of the company's shares were traded, compared with its average volume, which is 166,248. Worthington Industries's low for the past twelve months is $38.01; its high for that same period is $65.17. The market cap of the stock is $3.16 billion. It has a P/E ratio of 15.16, and a beta value of 1.25. The company's current ratio is 2.57, its quick ratio is 1.67, and it has a debt to equity ratio of 0.40. On Tuesday, 9th May, 17,000 shares were sold in one transaction. The shares were sold for an average price $57.52, resulting in a value of $977.840.00. After the transaction was completed, the chairman owns approximately $76,998,170.16 worth of shares. Insiders control 39.20% the stock of their company.
Institutional Investors weigh in on Worthington Industries
A number of hedge fund managers have made recent changes to their WOR positions. JPMorgan Chase & Co. grew its holdings in Worthington Industries shares by 6.8% during 1st Quarter. JPMorgan Chase & Co. owns 195.470 shares in industrial products company worth $10.049,000, after buying an additional 12.396 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Worthington Industries during the first quarter by 0.6%. Bank of New York Mellon Corp owns now 574,534 of the industrial product company's shares worth $29,538,000. This is after adding 3,213 additional shares in the last quarter. MetLife Investment Management LLC increased its stake in Worthington Industries during the first quarter by 41.6%. MetLife Investment Management LLC owns 38.363 shares in the industrial products company, valued at $1,972,000, after purchasing an additional 11,272 during the previous quarter. Panagora Asset Management Inc. increased its stake in Worthington Industries during the first quarter by 25.0%. Panagora Asset Management Inc. owns 17,946 of the industrial product company's shares worth $923,000, after purchasing an additional 3,592 during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings of Worthington Industries during the first quarter by 11.4%. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owns 11,947 of the industrial product company's shares worth $614,000, after purchasing an additional 1,222 during the period. Institutional investors and hedge fund own 45.30% of the company's shares.
Analyst Upgrades and downgrades
In a research report published on Thursday 18th May, Worthington Industries was covered. The company was given a rating of 'buy'. BMO Capital Markets raised their target price for shares of Worthington Industries in a research report on Friday, 24th March from $54.00 up to $60.00.
Worthington Industries, Inc. is an industrial manufacturing firm that focuses on steel processing, consumer, building, sustainable mobility, and manufactured products in North America. The company operates in four segments: Steel Processing, Consumer Products and Building Products.
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