Shares of Worthington Industries, Inc. (NYSE:WOR) have earned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $46.50.
Several research firms have recently issued reports on WOR. BidaskClub lowered shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. ValuEngine lowered shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Zacks Investment Research lowered shares of Worthington Industries from a “hold” rating to a “sell” rating in a research note on Saturday, September 30th.
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In related news, insider John G. Lamprinakos sold 7,500 shares of the company’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $44.96, for a total transaction of $337,200.00. Following the completion of the transaction, the insider now owns 70,751 shares in the company, valued at approximately $3,180,964.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Karmanos sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $43.82, for a total transaction of $876,400.00. Following the transaction, the director now owns 65,840 shares of the company’s stock, valued at approximately $2,885,108.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,876 shares of company stock valued at $3,290,460. Insiders own 31.30% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised its holdings in Worthington Industries by 81.8% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Worthington Industries by 11.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the industrial products company’s stock valued at $115,000 after acquiring an additional 227 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Worthington Industries by 78.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,675 shares of the industrial products company’s stock valued at $134,000 after acquiring an additional 1,175 shares during the last quarter. Salem Investment Counselors Inc. raised its holdings in Worthington Industries by 166.7% in the 3rd quarter. Salem Investment Counselors Inc. now owns 2,699 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 1,687 shares during the last quarter. Finally, First Mercantile Trust Co. raised its holdings in Worthington Industries by 2.0% in the 2nd quarter. First Mercantile Trust Co. now owns 3,070 shares of the industrial products company’s stock valued at $154,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 52.36% of the company’s stock.
Worthington Industries (NYSE WOR) traded up $0.02 during mid-day trading on Wednesday, hitting $40.24. 549,668 shares of the stock traded hands, compared to its average volume of 507,375. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.36 and a current ratio of 2.14. Worthington Industries has a twelve month low of $39.52 and a twelve month high of $62.44. The stock has a market cap of $2,540.00, a price-to-earnings ratio of 13.96, a P/E/G ratio of 3.11 and a beta of 1.14.
Worthington Industries (NYSE:WOR) last posted its earnings results on Wednesday, September 27th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.09). Worthington Industries had a return on equity of 17.98% and a net margin of 5.90%. The firm had revenue of $848.24 million for the quarter, compared to analysts’ expectations of $854.20 million. During the same period in the previous year, the company earned $1.03 earnings per share. The company’s revenue was up 15.0% compared to the same quarter last year. research analysts expect that Worthington Industries will post 3.1 EPS for the current year.
Worthington Industries declared that its board has authorized a stock repurchase program on Wednesday, September 27th that authorizes the company to buyback 6,830,000 shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.84 annualized dividend and a dividend yield of 2.09%. Worthington Industries’s dividend payout ratio (DPR) is presently 29.58%.
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.
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