According to Zacks, “Worthington Industries is one of the leading diversified metal processing companies. The company is one of North America’s premier value-added steel processors and one of the leaders in manufactured metal products such as automotive aftermarket stampings, pressure cylinders, metal framing, metal ceiling grid systems and laser welded blanks. (Company Press Release) “
Several other analysts have also issued reports on WOR. Jefferies Group restated a hold rating on shares of Worthington Industries in a research report on Thursday, June 30th. JPMorgan Chase & Co. restated a hold rating on shares of Worthington Industries in a research report on Thursday, June 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $37.00.
Shares of Worthington Industries (NYSE:WOR) opened at 43.62 on Tuesday. Worthington Industries has a 52 week low of $24.84 and a 52 week high of $45.68. The firm has a 50 day moving average of $42.49 and a 200 day moving average of $39.46. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 19.65 and a beta of 1.50.
Worthington Industries (NYSE:WOR) last posted its quarterly earnings results on Wednesday, June 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.28. The company had revenue of $714.70 million for the quarter. Worthington Industries had a net margin of 5.06% and a return on equity of 18.83%. The business’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 earnings per share. Equities analysts predict that Worthington Industries will post $2.84 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.83%. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, September 13th. Worthington Industries’s dividend payout ratio (DPR) is currently 36.04%.
In other Worthington Industries news, VP Catherine M. Lyttle sold 3,750 shares of the firm’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $42.37, for a total value of $158,887.50. Following the sale, the vice president now directly owns 25,488 shares in the company, valued at approximately $1,079,926.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geoffrey G. Gilmore sold 11,079 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $42.73, for a total transaction of $473,405.67. Following the completion of the sale, the insider now owns 52,469 shares in the company, valued at $2,242,000.37. The disclosure for this sale can be found here. 32.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. LS Investment Advisors LLC raised its stake in 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 in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Worthington Industries during the second quarter valued at $115,000. Meeder Asset Management Inc. acquired a new stake in shares of Worthington Industries during the second quarter valued at $115,000. Tower Research Capital LLC TRC acquired a new stake in shares of Worthington Industries during the second quarter valued at $122,000. Finally, Acrospire Investment Management LLC raised its stake 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. Institutional investors own 50.94% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Worthington Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Worthington Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.