Worthington Industries (NYSE: WOR) Reports Quarterly Results, Beats Expectations by $ 0.55 Per Share

Worthington Industries (NYSE: WOR) released its quarterly results on Tuesday. The industrials company reported earnings per share (EPS) of $ 2.46 for the quarter, beating the consensus estimate of $ 1.91 by $ 0.55, reports MarketWatch Earnings. The company posted revenue of $ 1.11 billion for the quarter, against analysts’ expectations of $ 981.00 million. Worthington Industries reported a return on equity of 17.42% and a net margin of 22.82%. The company’s revenue for the quarter increased 57.9% year-over-year. During the same period last year, the company achieved EPS of $ 0.25.

WOR shares opened at $ 54.24 on Thursday. Worthington Industries has a 12 month low of $ 40.41 and a 12 month high of $ 75.45. The company has a quick ratio of 1.78, a current ratio of 2.50, and a debt ratio of 0.46. The company has a market cap of $ 2.80 billion, a price-to-earnings ratio of 4.10 and a beta of 1.06. The stock’s 50-day moving average price is $ 57.90 and its 200-day moving average price is $ 62.68.

In other Worthington Industries news, Director Ozey K. Horton, Jr. sold 1,000 shares of the company in a trade on Tuesday, August 3. The shares were sold at an average price of $ 62.30, for a total trade of $ 62,300.00. Following the closing of the sale, the Director now owns 35,469 shares of the company, valued at approximately $ 2,209,718.70. The sale was disclosed in a file with the Securities & Exchange Commission, accessible through this link. In addition, COO Geoffrey G. Gilmore sold 9,497 shares of the company in a trade on Tuesday, July 13. The shares were sold at an average price of $ 60.99, for a total trade of $ 579,222.03. Following the closing of the sale, the COO now owns 188,514 shares of the company, valued at approximately $ 11,497,468.86. Disclosure of this sale can be found here. Insiders have sold 12,497 shares of the company valued at $ 766,542 in the past ninety days. Company insiders own 37.50% of the company’s shares.

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An institutional investor recently increased its position in Worthington Industries stock. Morgan Stanley raised its holdings of Worthington Industries, Inc. (NYSE: WOR) shares by 69.1% in the second quarter, according to the company in its latest Form 13F filed with the SEC. The company held 140,646 shares of the industrial products company after purchasing an additional 57,452 shares during the period. Morgan Stanley owned 0.27% of Worthington Industries for a value of $ 8,604,000 at the time of its last filing with the SEC. Institutional investors and hedge funds hold 46.75% of the company’s shares.

A number of research companies have recently published reports on WOR. Seaport Global Securities began covering Worthington Industries in a research report on Monday, August 23. They set a “neutral” rating for the company. Seaport Res Ptn reaffirmed a “neutral” rating on Worthington Industries shares in a research report on Monday, August 23. Finally, Zacks Investment Research downgraded Worthington Industries from a “custody” rating to a “buy” rating and set a price target of $ 59 for the company in a research report released Thursday, September 23.

About Worthington Industries

Worthington Industries, Inc. engages in value-added steel processing and fabricating metal products. It operates in the following segments: steel processing and pressure cylinders. The Steel Processing segment consists of the Worthington Steel business unit and the consolidated joint ventures, which operate the steel business and its prices.

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Worthington Industries Earnings History (NYSE: WOR)

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