Jefferies Group restated their hold rating on shares of Worthington Industries Inc. (NYSE:WOR) in a report published on Thursday morning. The firm currently has a $42.00 price objective on the stock, up from their previous price objective of $37.00.
Several other equities research analysts have also recently weighed in on WOR. Zacks Investment Research raised Worthington Industries from a hold rating to a buy rating and set a $44.00 price objective for the company in a research report on Friday, June 17th. JPMorgan Chase & Co. reissued a hold rating on shares of Worthington Industries in a research report on Thursday, June 30th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $41.00.
Worthington Industries (NYSE:WOR) opened at 48.21 on Thursday. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 17.45 and a beta of 1.43. The stock’s 50 day moving average is $43.20 and its 200 day moving average is $40.16. Worthington Industries has a 52-week low of $25.50 and a 52-week high of $48.50.
Worthington Industries (NYSE:WOR) last announced its quarterly earnings results on Wednesday, September 28th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.77 by $0.26. Worthington Industries had a return on equity of 21.60% and a net margin of 6.32%. The company had revenue of $737.50 million for the quarter. During the same quarter last year, the business earned $0.54 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, analysts predict that Worthington Industries will post $3.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.80 annualized dividend and a yield of 1.66%. Worthington Industries’s dividend payout ratio (DPR) is currently 28.99%.
In related news, VP Catherine M. Lyttle sold 3,750 shares of the firm’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $42.37, for a total value of $158,887.50. Following the completion of the transaction, the vice president now directly owns 25,488 shares of the company’s stock, valued at $1,079,926.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Dale T. Brinkman sold 4,188 shares of the firm’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $42.10, for a total value of $176,314.80. Following the completion of the transaction, the vice president now directly owns 57,336 shares of the company’s stock, valued at $2,413,845.60. The disclosure for this sale can be found here. 32.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of WOR. 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 valued at $114,000 after buying an additional 1,098 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Worthington Industries during the second quarter valued at approximately $115,000. Meeder Asset Management Inc. purchased a new position in shares of Worthington Industries during the second quarter valued at approximately $115,000. Tower Research Capital LLC TRC purchased a new position in shares of Worthington Industries during the second quarter valued at approximately $122,000. Finally, Acrospire Investment Management LLC boosted its position in shares of Worthington Industries by 45.5% in the second quarter. Acrospire Investment Management LLC now owns 3,200 shares of the company’s stock valued at $135,000 after buying an additional 1,000 shares during the period. 50.94% of the stock is owned by hedge funds and other institutional investors.
Worthington Industries Company Profile
Worthington Industries, Inc is a diversified metals manufacturing company. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Company’s Steel Processing segment consists of the Worthington Steel business unit, Precision Specialty Metals, Inc and Worthington Steelpac Systems, LLC and also includes two consolidated joint ventures: Spartan Steel Coating, LLC, which operates a cold-rolled hot dipped galvanizing line in Monroe, Michigan, and TWB Company, LLC., which operates a laser welded blank business.
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