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What Successful Hedge Funds Think About Worthington Industries, Inc. (WOR)

Since Worthington Industries, Inc. (NYSE:WOR) has gone through bearish sentiment from hedge fund managers, it’s easy to see that there lies a certain “tier” of funds who sold off their full holdings by the end of the third quarter. Intriguingly, Ken Griffin’s Citadel Investment Group cut the largest stake of all the investors tracked by Insider Monkey, comprising about $6.3 million in stock, and Matthew Hulsizer’s PEAK6 Capital Management was right behind this move, as the fund cut about $1.7 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks similar to Worthington Industries, Inc. (NYSE:WOR). We will take a look at Horizon Pharma Inc (NASDAQ:HZNP), Kate Spade & Co (NYSE:KATE), Logitech International SA (USA) (NASDAQ:LOGI), and UMB Financial Corporation (NASDAQ:UMBF). This group of stocks’ market caps are similar to WOR’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
HZNP 36 740593 9
KATE 29 535210 -1
LOGI 11 68379 3
UMBF 9 64230 1

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $352 million. That figure was $152 million in WOR’s case. Horizon Pharma Inc (NASDAQ:HZNP) is the most popular stock in this table. On the other hand UMB Financial Corporation (NASDAQ:UMBF) is the least popular one with only 9 bullish hedge fund positions. Worthington Industries, Inc. (NYSE:WOR) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard HZNP might be a better candidate to consider taking a long position in.

Disclosure: None

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