Worthington Industries (WOR) Downgraded by ValuEngine to “Sell”

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ValuEngine downgraded shares of Worthington Industries (NYSE:WOR) from a hold rating to a sell rating in a research report released on Friday.

A number of other equities analysts have also commented on WOR. Zacks Investment Research lowered shares of Worthington Industries from a hold rating to a sell rating in a report on Saturday, December 1st. JPMorgan Chase & Co. cut their price objective on shares of Worthington Industries from $48.00 to $45.00 and set a neutral rating on the stock in a report on Thursday, September 27th. Finally, Jefferies Financial Group cut their price objective on shares of Worthington Industries from $48.00 to $47.00 and set a hold rating on the stock in a report on Thursday, September 27th.

WOR stock traded down $1.23 during trading on Friday, reaching $38.29. The stock had a trading volume of 346,834 shares, compared to its average volume of 195,089. Worthington Industries has a 1-year low of $38.18 and a 1-year high of $49.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.98 and a quick ratio of 1.18. The firm has a market capitalization of $2.35 billion, a P/E ratio of 13.30 and a beta of 0.83.

Worthington Industries (NYSE:WOR) last issued its quarterly earnings data on Wednesday, September 26th. The industrial products company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.10). Worthington Industries had a return on equity of 18.42% and a net margin of 5.49%. The firm had revenue of $988.10 million during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Worthington Industries will post 3.19 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.92 dividend on an annualized basis and a yield of 2.40%. Worthington Industries’s dividend payout ratio is currently 31.94%.

Several institutional investors have recently modified their holdings of WOR. Itau Unibanco Holding S.A. raised its stake in shares of Worthington Industries by 126.4% in 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 in the last quarter. Bank of Montreal Can acquired a new stake in shares of Worthington Industries in the 2nd quarter valued at about $119,000. Meadow Creek Investment Management LLC raised its stake in shares of Worthington Industries by 37.4% in 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 in the last quarter. Tiverton Asset Management LLC acquired a new stake in shares of Worthington Industries in the 2nd quarter valued at about $205,000. Finally, Vident Investment Advisory LLC acquired a new stake in shares of Worthington Industries in the 2nd quarter valued at about $206,000. Institutional investors and hedge funds own 50.89% 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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