Worthington Industries Inc. (NYSE:WOR) was downgraded by equities research analysts at Macquarie from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, The Fly reports.
A number of other equities research analysts also recently weighed in on the stock. Jefferies Group reiterated a “hold” rating on shares of Worthington Industries in a research note on Monday, August 15th. Zacks Investment Research upgraded shares of Worthington Industries from a “hold” rating to a “strong-buy” rating and set a $55.00 price target on the stock in a research note on Saturday, October 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $41.00.
Shares of Worthington Industries (NYSE:WOR) opened at 60.31 on Tuesday. The firm has a market cap of $3.83 billion, a PE ratio of 21.84 and a beta of 1.29. Worthington Industries has a 12-month low of $25.50 and a 12-month high of $62.44. The company has a 50 day moving average of $51.53 and a 200-day moving average of $44.29.
Worthington Industries (NYSE:WOR) last released its quarterly earnings results on Wednesday, September 28th. The company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.26. Worthington Industries had a net margin of 6.32% and a return on equity of 21.60%. The company had revenue of $737.50 million for the quarter. During the same period in the prior year, the business earned $0.54 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research analysts forecast that Worthington Industries will post $3.30 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.33%. Worthington Industries’s payout ratio is presently 28.99%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. bought a new position in shares of Worthington Industries during the third quarter worth about $100,000. Smithfield Trust Co. bought a new position in shares of Worthington Industries during the third quarter worth about $129,000. LS Investment Advisors LLC boosted its position in shares of Worthington Industries by 68.6% in the second quarter. LS Investment Advisors LLC now owns 2,699 shares of the company’s stock worth $114,000 after buying an additional 1,098 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in shares of Worthington Industries during the third quarter worth about $130,000. Finally, Benjamin F. Edwards & Company Inc. bought a new position in shares of Worthington Industries during the second quarter worth about $115,000. 52.11% of the stock is owned by institutional investors.
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.