Worthington Industries (NYSE:WOR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, March 14th.
According to Zacks, “Worthington Industries, Inc. has been North American’s premier, value-added steel processor, providing customers with wide ranging capabilities, products and services for a variety of markets including automotive, construction and agriculture. Worthington is also the leading global supplier of pressure tanks and cylinders. The company manufactures a host of pressure cylinders products for industrial gas and cryogenic applications, transportation and alternative fuel storage, oil and gas equipment, and consumer brand retail products, including Bernzomatic, Coleman and Balloon Time. They have built a reputation on quality, safety and regulatory compliance, ensuring the protection of their employees, customers and industry. In fact, designing and building protective structures is another one of their specialties. Worthington manufactures custom-engineered, open and enclosed cabs, and operator stations for the smallest utility equipment to the largest earth-moving machinery in the world. “
Separately, ValuEngine upgraded Worthington Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th.
Shares of Worthington Industries stock traded down $0.76 during midday trading on Wednesday, hitting $40.79. The company’s stock had a trading volume of 422,874 shares, compared to its average volume of 324,768. The stock has a market cap of $2,500.66, a PE ratio of 12.67, a price-to-earnings-growth ratio of 3.21 and a beta of 1.09. The company has a quick ratio of 1.29, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. Worthington Industries has a 1-year low of $39.52 and a 1-year high of $53.27.
Worthington Industries (NYSE:WOR) last announced its quarterly earnings data on Thursday, March 29th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.14). Worthington Industries had a return on equity of 17.05% and a net margin of 6.47%. The firm had revenue of $841.66 million for the quarter, compared to analysts’ expectations of $863.50 million. During the same quarter in the prior year, the business posted $0.55 earnings per share. Worthington Industries’s revenue was up 19.6% on a year-over-year basis. analysts expect that Worthington Industries will post 3.02 EPS for the current fiscal year.
In other Worthington Industries news, VP Catherine M. Lyttle sold 34,500 shares of Worthington Industries stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $40.65, for a total transaction of $1,402,425.00. Following the sale, the vice president now directly owns 32,059 shares of the company’s stock, valued at $1,303,198.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dale T. Brinkman sold 6,874 shares of Worthington Industries stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $48.32, for a total value of $332,151.68. Following the sale, the vice president now directly owns 35,992 shares in the company, valued at $1,739,133.44. The disclosure for this sale can be found here. 31.30% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of WOR. DekaBank Deutsche Girozentrale raised its position in shares of Worthington Industries by 78.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,675 shares of the industrial products company’s stock valued at $134,000 after acquiring an additional 1,175 shares during the last quarter. Salem Investment Counselors Inc. raised its position in shares of Worthington Industries by 166.7% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,699 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 1,687 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Worthington Industries during the 4th quarter valued at $218,000. Xact Kapitalforvaltning AB bought a new stake in shares of Worthington Industries during the 4th quarter valued at $221,000. Finally, Jane Street Group LLC bought a new stake in shares of Worthington Industries during the 3rd quarter valued at $235,000. Institutional investors own 52.65% of the company’s stock.
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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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