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, TheStreet cut Worthington Industries from a b- rating to a c+ rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Worthington Industries presently has an average rating of Hold and an average target price of $44.67.
Shares of WOR stock opened at $39.18 on Friday. The stock has a market capitalization of $2.27 billion, a PE ratio of 14.14 and a beta of 1.18. The business has a fifty day moving average price of $38.15. Worthington Industries has a twelve month low of $31.42 and a twelve month high of $48.57. 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 issued its quarterly earnings results on Wednesday, June 26th. The industrial products company reported $0.77 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $938.80 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 earnings per share. As a group, equities research analysts predict that Worthington Industries will post 3.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.24 dividend. This is a boost from Worthington Industries’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, September 12th. Worthington Industries’s dividend payout ratio is currently 33.21%.
In related news, Director John B. Blystone bought 644 shares of the business’s stock in a transaction dated 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 completion of the purchase, the director now owns 185,311 shares in the company, valued at approximately $7,412,440. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Catherine M. Lyttle sold 4,000 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $40.47, for a total value of $161,880.00. Following the completion of the sale, the senior vice president now directly owns 30,408 shares in the company, valued at $1,230,611.76. The disclosure for this sale can be found here. Corporate insiders own 33.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WOR. Norges Bank purchased a new stake in shares of Worthington Industries in the fourth quarter worth $22,210,000. Macquarie Group Ltd. grew its stake in shares of Worthington Industries by 4.3% in the fourth quarter. Macquarie Group Ltd. now owns 1,480,282 shares of the industrial products company’s stock worth $51,573,000 after acquiring an additional 60,613 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Worthington Industries by 9.2% in the fourth quarter. Geode Capital Management LLC now owns 436,705 shares of the industrial products company’s stock worth $15,213,000 after acquiring an additional 36,780 shares during the last quarter. GYL Financial Synergies LLC purchased a new stake in shares of Worthington Industries in the first quarter worth $1,269,000. Finally, Systematic Financial Management LP bought a new position in shares of Worthington Industries during the first quarter valued at $1,252,000. 47.69% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading: Understanding debt-to-equity ratio in fundamental analysis
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Worthington Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Worthington Industries and related companies with MarketBeat.com's FREE daily email newsletter.