Tortoise Investment Management LLC Makes New $36,000 Investment in Worthington Industries, Inc. (NYSE:WOR)

Tortoise Investment Management LLC bought a new position in Worthington Industries, Inc. (NYSE:WOR – Get Rating) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 700 shares of the industrial products company’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank N A MO bought a new stake in shares of Worthington Industries in the 4th quarter worth approximately $35,000. Pinebridge Investments L.P. acquired a new stake in shares of Worthington Industries during the fourth quarter valued at approximately $55,000. Advisor Group Holdings Inc. raised its holdings in shares of Worthington Industries by 17.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,615 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 244 shares during the period. Itau Unibanco Holding S.A. raised its holdings in shares of Worthington Industries by 101.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 2,829 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 1,425 shares during the period. Finally, CoreCommodity Management LLC acquired a new stake in shares of Worthington Industries during the fourth quarter valued at approximately $220,000. 45.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Worthington Industries from a “sell” rating to a “hold” rating in a report on Saturday, June 25th.

Worthington Industries Stock Up 1.3 %

WOR stock opened at $51.55 on Friday. Worthington Industries, Inc. has a 52-week low of $39.13 and a 52-week high of $63.31. The company’s 50 day simple moving average is $45.55 and its 200-day simple moving average is $50.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.92 and a quick ratio of 1.10. The firm has a market capitalization of $2.55 billion, a P/E ratio of 6.95 and a beta of 1.02.

Worthington Industries (NYSE:WOR – Get Rating) last released its quarterly earnings results on Wednesday, June 22nd. The industrial products company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.75. Worthington Industries had a net margin of 7.24% and a return on equity of 23.06%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.24 billion. As a group, equities research analysts anticipate that Worthington Industries, Inc. will post 5.34 EPS for the current year.

Worthington Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, September 14th. This is an increase from Worthington Industries’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 2.41%. Worthington Industries’s payout ratio is presently 15.09%.

Worthington Industries Profile

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Worthington Industries, Inc, an industrial manufacturing company, focuses on value-added steel processing and manufactured metal products in North America and internationally. It operates through Steel Processing, Consumer Products, Building Products, and Sustainable Energy Solutions segments. The Steel Processing segment processes flat-rolled steel for customers primarily in the automotive, aerospace, agricultural, appliance, construction, container, hardware, heavy-truck, HVAC, lawn and garden, leisure and recreation, office furniture, and office equipment markets.