Dimensional Fund Advisors LP recently announced the acquisition of new stake in Worthington Industries Inc. (NYSE:WOR). The institutional investor has increased its shareholding in the Basic Materials company by 7.76% to 2.12 million shares with purchase of 0.15 million shares. This fresh investment now brings its stake to 4.27% valued currently at $105.46 million. In addition, Victory Capital Management, Inc. raised its holdings by 0.42 million to 1.87 million shares. And Macquarie Investment Management B has lifted its position by 0.91% or 16607.0 shares – to 1.84 million shares.
With over 0.14 million Worthington Industries Inc. (WOR) shares trading Friday and a closing price of $53.48 on the day, the dollar volume was approximately $7.39 million. The shares have shown a positive half year performance of 15.63% and its price on 01/20/23 gained nearly 2.35%. Currently, there are 48.56M common shares owned by the public and among those 30.49M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for WOR have a consensus price objective of $54.00. The analysts have set the share’s price value over the next 12 months at a high of $54.00 and a low of $54.00. The average price target is 0.96% above its recent price level and an upside to the estimated low will see the stock gain 0.96% over that period. But an upside of 0.96% will see the stock hit the forecast high price target while median target price for the stock is $54.00.
Insiders at the company have transacted a total of 65 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 38 of these insider trades were purchases, accounting for 221,675 shares. Insider sales of the common stock occurred on 27 occasions, with total insider shares sold totaling 106,269 shares.
The top 3 mutual fund holders in Worthington Industries Inc. are Delaware Small Cap Core Fund, Victory Sycamore Small Company Op, and iShares Core S&P Mid Cap ETF. Delaware Small Cap Core Fund owns 1.31 million shares of the company’s stock, all valued at over $65.07 million. The company bought an additional 10340.0 shares recently to bring their total holdings to about 2.63% of the shares outstanding. Victory Sycamore Small Company Op bought 0.25 million shares to see its total holdings expand to 1.2 million shares valued at over $59.65 million and representing 2.41% of the shares outstanding. iShares Core S&P Mid Cap ETF sold 178.0 shares to bring its total holdings to over 0.94 million shares at a value of $46.51 million. iShares Core S&P Mid Cap ETF now owns shares totaling to 1.88% of the shares outstanding.
Shares of Worthington Industries Inc. (NYSE: WOR) opened at $52.44, up $0.19 from a prior closing price of $52.25. However, the script later moved the day high at 53.66, up 2.35%. The company’s stock has a 5-day price change of -3.20% and 23.97% over the past three months. WOR shares are trading 7.58% year to date (YTD), with the 12-month market performance down to -6.57% lower. It has a 12-month low price of $38.01 and touched a high of $62.83 over the same period. WOR has an average intraday trading volume of 183.68K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.03%, 0.31%, and 8.81% respectively.
Institutional ownership of Worthington Industries Inc. (NYSE: WOR) shares accounts for 46.90% of the company’s 48.56M shares outstanding. Mutual fund holders own 32.53%, while other institutional holders and individual stakeholders account for 41.06% and 14.00% respectively.
It has a market capitalization of $2.60B and a beta (3y monthly) value of 1.26. The stock’s trailing 12-month PE ratio is 12.31, while the earnings-per-share (ttm) stands at $4.34. The company has a PEG of 0.30 and a Quick Ratio of 1.40 with the debt-to-equity ratio at 0.46. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.26% over the week and 3.59% over the month.
Analysts forecast that Worthington Industries Inc. (WOR) will achieve an EPS of $0.8 for the current quarter, $0.74 for the next quarter and $4.09 for 2024. The lowest estimate earnings-per-share for the quarter is $0.78 while analysts give the company a high EPS estimate of $0.82. Comparatively, EPS for the current quarter was $2.12 a year ago. Earnings per share for the fiscal year are expected to decrease by -44.60%, and 9.64% over the next financial year. EPS should grow at an annualized rate of 41.50% over the next five years, compared to 18.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Worthington Industries Inc. (WOR) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 3 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the WOR, a number of firms have released research notes about the stock. BMO Capital Markets stated their Market Perform rating for the stock in a research note on August 15, 2022, with the firm’s price target at $58. Macquarie on their part issued Neutral rating on March 14, 2017.
