Worthington Industries, Inc. (NYSE:WOR) has earned an average rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $46.50.
Several brokerages have issued reports on WOR. Zacks Investment Research downgraded shares of Worthington Industries from a “hold” rating to a “sell” rating in a report on Saturday, September 30th. ValuEngine downgraded shares of Worthington Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, BidaskClub downgraded shares of Worthington Industries from a “hold” rating to a “sell” rating in a report on Saturday, August 5th.
Shares of Worthington Industries (NYSE WOR) opened at $40.48 on Wednesday. Worthington Industries has a fifty-two week low of $40.22 and a fifty-two week high of $62.44. The stock has a market cap of $2,550.00, a PE ratio of 14.37, a price-to-earnings-growth ratio of 3.20 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.14 and a quick ratio of 1.36.
Worthington Industries (NYSE:WOR) last announced its quarterly earnings results on Wednesday, September 27th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.09). Worthington Industries had a net margin of 5.90% and a return on equity of 17.98%. The business had revenue of $848.24 million during the quarter, compared to analysts’ expectations of $854.20 million. During the same period last year, the company earned $1.03 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. equities research analysts expect that Worthington Industries will post 3.1 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Thursday, December 14th. Worthington Industries’s dividend payout ratio is presently 29.58%.
Worthington Industries declared that its board has authorized a share repurchase plan on Wednesday, September 27th that permits the company to repurchase 6,830,000 shares. This repurchase authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other news, insider John G. Lamprinakos sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $44.96, for a total value of $337,200.00. Following the completion of the transaction, the insider now owns 70,751 shares of the company’s stock, valued at $3,180,964.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Peter Karmanos sold 45,376 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $45.77, for a total transaction of $2,076,859.52. Following the completion of the transaction, the director now directly owns 85,840 shares of the company’s stock, valued at approximately $3,928,896.80. The disclosure for this sale can be found here. In the last three months, insiders sold 72,876 shares of company stock valued at $3,290,460. Company insiders own 31.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in Worthington Industries by 1.2% during the second quarter. BlackRock Inc. now owns 5,352,354 shares of the industrial products company’s stock worth $268,796,000 after purchasing an additional 64,589 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Worthington Industries by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,682,457 shares of the industrial products company’s stock worth $84,487,000 after purchasing an additional 17,185 shares during the last quarter. JPMorgan Chase & Co. increased its position in Worthington Industries by 10.1% during the second quarter. JPMorgan Chase & Co. now owns 1,098,713 shares of the industrial products company’s stock worth $55,178,000 after purchasing an additional 101,166 shares during the last quarter. Voya Investment Management LLC increased its position in Worthington Industries by 20.9% during the second quarter. Voya Investment Management LLC now owns 1,040,954 shares of the industrial products company’s stock worth $52,277,000 after purchasing an additional 180,199 shares during the last quarter. Finally, Macquarie Group Ltd. increased its position in Worthington Industries by 2.8% during the third quarter. Macquarie Group Ltd. now owns 970,876 shares of the industrial products company’s stock worth $44,660,000 after purchasing an additional 26,305 shares during the last quarter. 52.36% of the stock is owned by hedge funds and other institutional investors.
About Worthington Industries
Worthington Industries, Inc is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors.
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