Worthington Industries (NYSE:WOR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Worthington Industries, Inc. has been North American’s premier, value-added steel processor, providing customers with wide ranging capabilities, products and services for a variety of markets including automotive, construction and agriculture. Worthington is also the leading global supplier of pressure tanks and cylinders. The company manufactures a host of pressure cylinders products for industrial gas and cryogenic applications, transportation and alternative fuel storage, oil and gas equipment, and consumer brand retail products, including Bernzomatic, Coleman and Balloon Time. They have built a reputation on quality, safety and regulatory compliance, ensuring the protection of their employees, customers and industry. In fact, designing and building protective structures is another one of their specialties. Worthington manufactures custom-engineered, open and enclosed cabs, and operator stations for the smallest utility equipment to the largest earth-moving machinery in the world. “
Separately, ValuEngine upgraded Worthington Industries from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $46.50.
Worthington Industries (WOR) opened at $44.45 on Wednesday. Worthington Industries has a 1 year low of $39.52 and a 1 year high of $53.27. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.32 and a current ratio of 2.11. The stock has a market capitalization of $2,817.86, a PE ratio of 16.22, a PEG ratio of 3.54 and a beta of 1.12.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings data on Tuesday, December 19th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). Worthington Industries had a return on equity of 17.07% and a net margin of 5.43%. The company had revenue of $871.30 million for the quarter, compared to the consensus estimate of $823.50 million. During the same quarter last year, the business earned $0.75 earnings per share. Worthington Industries’s revenue was up 19.7% compared to the same quarter last year. research analysts predict that Worthington Industries will post 3.08 EPS for the current fiscal year.
In other Worthington Industries news, VP Dale T. Brinkman sold 6,874 shares of Worthington Industries stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $48.32, for a total value of $332,151.68. Following the completion of the sale, the vice president now directly owns 35,992 shares in the company, valued at $1,739,133.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 31.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of WOR. Victory Capital Management Inc. bought a new stake in Worthington Industries in the fourth quarter worth approximately $55,391,000. Deutsche Bank AG increased its holdings in Worthington Industries by 154.8% in the fourth quarter. Deutsche Bank AG now owns 330,408 shares of the industrial products company’s stock worth $14,556,000 after purchasing an additional 200,719 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Worthington Industries in the fourth quarter worth approximately $5,591,000. Barings LLC increased its holdings in Worthington Industries by 92.3% in the third quarter. Barings LLC now owns 180,870 shares of the industrial products company’s stock worth $8,320,000 after purchasing an additional 86,800 shares in the last quarter. Finally, King Luther Capital Management Corp bought a new stake in Worthington Industries in the fourth quarter worth approximately $3,305,000. Institutional investors and hedge funds own 52.65% of the company’s stock.
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About Worthington Industries
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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