Worthington Industries (WOR) Raised to “Hold” at ValuEngine
ValuEngine upgraded shares of Worthington Industries (NYSE:WOR) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
A number of other brokerages have also weighed in on WOR. Zacks Investment Research lowered Worthington Industries from a hold rating to a sell rating in a research report on Wednesday, September 12th. JPMorgan Chase & Co. cut their price target on Worthington Industries from $48.00 to $45.00 and set a neutral rating for the company in a research note on Thursday, September 27th. Finally, Jefferies Financial Group cut their price target on Worthington Industries from $48.00 to $47.00 and set a hold rating for the company in a research note on Thursday, September 27th.
Shares of NYSE:WOR opened at $42.42 on Wednesday. Worthington Industries has a fifty-two week low of $39.29 and a fifty-two week high of $49.93. The company has a quick ratio of 1.18, a current ratio of 1.98 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 14.73 and a beta of 0.84.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.23 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.17%. Worthington Industries’s dividend payout ratio is currently 31.94%.
Several institutional investors have recently added to or reduced their stakes in WOR. Itau Unibanco Holding S.A. grew its stake in shares of Worthington Industries by 126.4% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 2,420 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 1,351 shares during the period. Bank of Montreal Can bought a new stake in shares of Worthington Industries during the 2nd quarter valued at about $119,000. Meadow Creek Investment Management LLC grew its stake in shares of Worthington Industries by 37.4% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 4,176 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 1,136 shares during the period. Tiverton Asset Management LLC bought a new stake in shares of Worthington Industries during the 2nd quarter valued at about $205,000. Finally, Vident Investment Advisory LLC bought a new stake in shares of Worthington Industries during the 2nd quarter valued at about $206,000. Institutional investors and hedge funds own 50.46% of the company’s stock.
About Worthington Industries
Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.
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