TheStreet downgraded shares of Worthington Industries (NYSE:WOR) from a b- rating to a c+ rating in a report published on Monday, TheStreetRatingsTable reports.
Separately, Zacks Investment Research upgraded Worthington Industries from a sell rating to a hold rating in a research report on Friday, March 29th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Worthington Industries presently has an average rating of Hold and an average target price of $44.67.
Shares of WOR opened at $36.52 on Monday. The stock has a market capitalization of $2.04 billion, a P/E ratio of 12.68 and a beta of 1.09. Worthington Industries has a 1-year low of $31.42 and a 1-year high of $48.59. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.27 and a current ratio of 2.13.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings results on Wednesday, March 20th. The industrial products company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.06. The firm had revenue of $874.38 million for the quarter, compared to analysts’ expectations of $927.32 million. Worthington Industries had a return on equity of 18.38% and a net margin of 3.81%. As a group, equities analysts forecast that Worthington Industries will post 2.74 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.92 dividend on an annualized basis and a yield of 2.52%. Worthington Industries’s payout ratio is presently 31.94%.
In other Worthington Industries news, Director Mark C. Davis sold 14,985 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $39.57, for a total transaction of $592,956.45. Following the completion of the sale, the director now directly owns 35,165 shares in the company, valued at approximately $1,391,479.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sidney A. Ribeau sold 9,750 shares of Worthington Industries stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $40.41, for a total value of $393,997.50. Following the sale, the director now owns 52,369 shares of the company’s stock, valued at $2,116,231.29. The disclosure for this sale can be found here. Company insiders own 33.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. GYL Financial Synergies LLC acquired a new stake in shares of Worthington Industries during the 1st quarter valued at about $1,269,000. BlueMountain Capital Management LLC acquired a new stake in shares of Worthington Industries during the 1st quarter valued at about $41,000. Jane Street Group LLC acquired a new stake in shares of Worthington Industries during the 1st quarter valued at about $439,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Worthington Industries during the 1st quarter valued at about $4,177,000. Finally, Macquarie Group Ltd. lifted its holdings in shares of Worthington Industries by 7.6% during the 1st quarter. Macquarie Group Ltd. now owns 1,593,444 shares of the industrial products company’s stock valued at $59,467,000 after buying an additional 113,162 shares during the last quarter. Institutional investors and hedge funds own 48.00% of the company’s stock.
Worthington Industries Company Profile
Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.
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