Worthington Industries, Inc. (WOR) Cut to “Hold” at BidaskClub
Worthington Industries, Inc. (NYSE:WOR) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Monday.
WOR has been the subject of several other research reports. Jefferies Group LLC reissued a “hold” rating and issued a $45.00 target price on shares of Worthington Industries in a research report on Wednesday, June 14th. Zacks Investment Research lowered Worthington Industries from a “hold” rating to a “sell” rating in a research report on Saturday, June 3rd. Finally, J P Morgan Chase & Co decreased their target price on Worthington Industries from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Monday, April 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Worthington Industries currently has an average rating of “Hold” and a consensus target price of $47.33.
Worthington Industries (NYSE:WOR) traded down 0.21% during trading on Monday, reaching $52.00. The company’s stock had a trading volume of 232,314 shares. The stock has a 50-day moving average price of $47.50 and a 200 day moving average price of $46.65. The company has a market cap of $3.27 billion, a PE ratio of 16.51 and a beta of 1.14. Worthington Industries has a 52-week low of $39.28 and a 52-week high of $62.44.
Worthington Industries (NYSE:WOR) last released its quarterly earnings results on Wednesday, June 28th. The industrial products company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The business had revenue of $845.30 million during the quarter, compared to analyst estimates of $785.58 million. Worthington Industries had a return on equity of 20.59% and a net margin of 6.78%. Worthington Industries’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 EPS. On average, analysts expect that Worthington Industries will post $3.38 EPS for the current year.
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In other news, Director Sidney A. Ribeau sold 5,000 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $50.34, for a total value of $251,700.00. Following the completion of the transaction, the director now owns 42,519 shares of the company’s stock, valued at approximately $2,140,406.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dale T. Brinkman sold 28,212 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $49.50, for a total value of $1,396,494.00. Following the completion of the transaction, the vice president now directly owns 71,087 shares of the company’s stock, valued at approximately $3,518,806.50. The disclosure for this sale can be found here. 32.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. TrimTabs Asset Management LLC increased its stake in Worthington Industries by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,347 shares of the industrial products company’s stock worth $106,000 after buying an additional 1,104 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Worthington Industries by 67.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,424 shares of the industrial products company’s stock worth $109,000 after buying an additional 980 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Worthington Industries by 4.9% in the first quarter. Envestnet Asset Management Inc. now owns 3,755 shares of the industrial products company’s stock worth $168,000 after buying an additional 175 shares in the last quarter. LS Investment Advisors LLC increased its stake in Worthington Industries by 31.6% in the first quarter. LS Investment Advisors LLC now owns 3,977 shares of the industrial products company’s stock worth $179,000 after buying an additional 954 shares in the last quarter. Finally, James Investment Research Inc. acquired a new stake in Worthington Industries during the first quarter worth $189,000. 54.36% 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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