Worthington Industries (NYSE:WOR) Upgraded at ValuEngine

Worthington Industries (NYSE:WOR) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.

A number of other equities research analysts have also recently issued reports on WOR. Zacks Investment Research cut Worthington Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. TheStreet raised Worthington Industries from a “c+” rating to a “b-” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus target price of $44.67.

Shares of NYSE:WOR traded down $0.98 during trading on Thursday, hitting $39.24. 226,860 shares of the company’s stock traded hands, compared to its average volume of 222,493. Worthington Industries has a 52 week low of $31.42 and a 52 week high of $48.57. The company has a current ratio of 1.67, a quick ratio of 0.98 and a debt-to-equity ratio of 0.63. The firm has a market cap of $2.33 billion, a P/E ratio of 14.17 and a beta of 1.18. The firm has a 50-day simple moving average of $39.10.

Worthington Industries (NYSE:WOR) last released its quarterly earnings data on Wednesday, June 26th. The industrial products company reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. The firm had revenue of $938.80 million for the quarter, compared to the consensus estimate of $986.47 million. Worthington Industries had a return on equity of 17.33% and a net margin of 4.08%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 earnings per share. Equities analysts forecast that Worthington Industries will post 3.28 EPS for the current year.

In other news, Director John B. Blystone purchased 644 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were acquired at an average price of $40.00 per share, for a total transaction of $25,760.00. Following the completion of the acquisition, the director now directly owns 185,311 shares in the company, valued at $7,412,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Blystone purchased 20,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $39.86 per share, for a total transaction of $834,708.26. Following the acquisition, the director now owns 185,311 shares of the company’s stock, valued at $7,386,496.46. The disclosure for this purchase can be found here. 33.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of WOR. American Research & Management Co. bought a new position in shares of Worthington Industries in the first quarter worth $37,000. Pearl River Capital LLC purchased a new stake in shares of Worthington Industries in the 1st quarter worth $90,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Worthington Industries by 17.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,581 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 392 shares in the last quarter. Denali Advisors LLC purchased a new stake in shares of Worthington Industries in the 1st quarter worth $139,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Worthington Industries in the 4th quarter worth $174,000. Institutional investors and hedge funds own 47.64% of the company’s stock.

Worthington Industries Company Profile

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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