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. “
WOR has been the topic of several other research reports. TheStreet raised Worthington Industries from a c+ rating to a b- rating in a research report on Thursday, July 25th. ValuEngine lowered Worthington Industries from a hold rating to a sell rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. Worthington Industries presently has an average rating of Hold and a consensus price target of $43.33.
NYSE:WOR opened at $37.90 on Friday. The firm has a 50-day simple moving average of $36.72 and a 200-day simple moving average of $37.76. Worthington Industries has a one year low of $31.42 and a one year high of $46.66. The firm has a market cap of $1.99 billion, a P/E ratio of 13.68 and a beta of 1.18. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.98 and a current ratio of 1.67.
Worthington Industries (NYSE:WOR) last released its quarterly earnings data on Wednesday, June 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate 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 net margin of 4.08% and a return on equity of 17.33%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. On average, research analysts predict that Worthington Industries will post 3.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.53%. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, September 12th. Worthington Industries’s dividend payout ratio is presently 33.21%.
In other news, Director John B. Blystone acquired 20,941 shares of Worthington Industries 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 purchase, the director now directly owns 185,311 shares in the company, valued at approximately $7,386,496.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Blystone bought 644 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were purchased at an average cost of $40.00 per share, with a total value of $25,760.00. Following the transaction, the director now directly owns 185,311 shares of the company’s stock, valued at $7,412,440. The disclosure for this purchase can be found here. Corporate insiders own 34.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Worthington Industries by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,140,157 shares of the industrial products company’s stock worth $74,564,000 after purchasing an additional 21,178 shares in the last quarter. Victory Capital Management Inc. grew its stake in Worthington Industries by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,598,557 shares of the industrial products company’s stock worth $64,358,000 after buying an additional 99,795 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Worthington Industries by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 734,834 shares of the industrial products company’s stock worth $29,585,000 after buying an additional 36,947 shares during the last quarter. JPMorgan Chase & Co. increased its position in Worthington Industries by 4.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 647,534 shares of the industrial products company’s stock valued at $25,195,000 after buying an additional 25,194 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Worthington Industries by 9.2% during the 4th quarter. Geode Capital Management LLC now owns 436,705 shares of the industrial products company’s stock valued at $15,213,000 after buying an additional 36,780 shares in the last quarter. Institutional investors own 45.81% 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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