Worthington Industries Inc. (WOR) Stock Rating Lowered by Macquarie
Worthington Industries Inc. (NYSE:WOR) was downgraded by investment analysts at Macquarie from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday.
WOR has been the topic of several other research reports. Zacks Investment Research cut shares of Worthington Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Jefferies Group reiterated a “hold” rating and issued a $37.00 price objective on shares of Worthington Industries in a research note on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Worthington Industries has a consensus rating of “Hold” and an average target price of $41.00.
Worthington Industries (NYSE:WOR) opened at 56.28 on Tuesday. The firm has a 50-day moving average of $51.77 and a 200-day moving average of $44.44. Worthington Industries has a 1-year low of $25.50 and a 1-year high of $62.44. The stock has a market cap of $3.57 billion, a PE ratio of 20.38 and a beta of 1.29.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings data on Wednesday, September 28th. The company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $737.50 million for the quarter. During the same quarter last year, the company earned $0.54 EPS. Worthington Industries’s revenue for the quarter was down 2.7% on a year-over-year basis. Analysts expect that Worthington Industries will post $3.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Tuesday, December 13th. Worthington Industries’s payout ratio is 28.99%.
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A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in 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 last quarter. Metropolitan Life Insurance Co. NY boosted its stake in 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 last quarter. Squarepoint Ops LLC purchased a new stake in Worthington Industries during the first quarter worth approximately $568,000. BNP Paribas Arbitrage SA purchased a new stake in Worthington Industries during the second quarter worth approximately $919,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Worthington Industries during the second quarter worth approximately $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.
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