Worthington Industries, Inc. (WOR) Given Average Rating of “Hold” by Analysts
Worthington Industries, Inc. (NYSE:WOR) has been assigned an average rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $46.50.
WOR has been the topic of several research reports. Jefferies Group LLC increased their price target on shares of Worthington Industries from $45.00 to $47.00 and gave the stock a “hold” rating in a report on Friday, June 30th. BidaskClub upgraded shares of Worthington Industries from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research downgraded shares of Worthington Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, ValuEngine downgraded shares of Worthington Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th.
In related news, insider Geoffrey G. Gilmore sold 32,500 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $50.85, for a total value of $1,652,625.00. Following the transaction, the insider now owns 86,477 shares in the company, valued at approximately $4,397,355.45. The sale was disclosed in a filing with the SEC, which is available through this link. 31.30% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Texas Permanent School Fund boosted its position in Worthington Industries by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 32,081 shares of the industrial products company’s stock worth $1,611,000 after purchasing an additional 271 shares in the last quarter. American Century Companies Inc. boosted its position in Worthington Industries by 107.8% in the 2nd quarter. American Century Companies Inc. now owns 317,157 shares of the industrial products company’s stock worth $15,928,000 after purchasing an additional 164,505 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Worthington Industries in the 2nd quarter worth approximately $331,000. Gareth Morgan Investments Limited Partnership purchased a new stake in Worthington Industries in the 2nd quarter worth approximately $1,414,000. Finally, Prudential Financial Inc. boosted its position in Worthington Industries by 4.8% in the 2nd quarter. Prudential Financial Inc. now owns 765,484 shares of the industrial products company’s stock worth $38,443,000 after purchasing an additional 34,720 shares in the last quarter. Institutional investors and hedge funds own 52.02% of the company’s stock.
Worthington Industries (NYSE:WOR) opened at 45.74 on Friday. The stock has a market cap of $2.89 billion, a P/E ratio of 14.52 and a beta of 1.14. Worthington Industries has a 12-month low of $40.82 and a 12-month high of $62.44. The company has a 50 day moving average of $47.69 and a 200-day moving average of $46.73.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings results on Wednesday, September 27th. The industrial products company reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.09). Worthington Industries had a return on equity of 19.13% and a net margin of 5.67%. The business had revenue of $848.24 million during the quarter, compared to analyst estimates of $854.20 million. During the same quarter last year, the company posted $1.03 EPS. Worthington Industries’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities analysts forecast that Worthington Industries will post $3.12 earnings per share for the current year.
Worthington Industries declared that its Board of Directors has authorized a stock buyback program on Wednesday, September 27th that allows the company to repurchase 6,830,000 outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.21 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.84 annualized dividend and a yield of 1.84%. Worthington Industries’s dividend payout ratio (DPR) is presently 29.58%.
Worthington Industries Company Profile
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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