Worthington Industries Inc. (NYSE:WOR) was downgraded by stock analysts at Macquarie from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Worthington Industries from a “hold” rating to a “strong-buy” rating and set a $55.00 price objective on the stock in a research note on Saturday, October 1st. Jefferies Group reiterated a “hold” rating and set a $42.00 price objective (up from $37.00) on shares of Worthington Industries in a research note on Thursday, September 29th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $41.00.
Shares of Worthington Industries (NYSE:WOR) opened at 57.98 on Tuesday. The company has a market capitalization of $3.68 billion, a P/E ratio of 20.99 and a beta of 1.29. The company’s 50 day moving average is $51.53 and its 200-day moving average is $44.29. Worthington Industries has a 1-year low of $25.50 and a 1-year high of $62.44.
Worthington Industries (NYSE:WOR) last announced its quarterly earnings data on Wednesday, September 28th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The firm had revenue of $737.50 million for the quarter. Worthington Industries had a net margin of 6.32% and a return on equity of 21.60%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 earnings per share. On average, equities research analysts forecast that Worthington Industries will post $3.30 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be paid a $0.20 dividend. The ex-dividend date 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 currently 28.99%.
Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of Worthington Industries by 18.7% in the first quarter. Geode Capital Management LLC now owns 359,939 shares of the company’s stock worth $12,827,000 after buying an additional 56,622 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of Worthington Industries by 0.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 74,803 shares of the company’s stock worth $2,666,000 after buying an additional 434 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Worthington Industries during the first quarter worth about $568,000. BNP Paribas Arbitrage SA acquired a new position in shares of Worthington Industries during the second quarter worth about $919,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Worthington Industries during the second quarter worth about $115,000. Institutional investors own 52.11% of the company’s stock.
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.