ValuEngine cut shares of Worthington Industries (NYSE:WOR) from a hold rating to a sell rating in a report published on Friday, ValuEngine reports.

A number of other brokerages have also recently commented on WOR. Zacks Investment Research cut Worthington Industries from a buy rating to a hold rating in a report on Saturday, July 27th. TheStreet raised Worthington Industries from a c+ rating to a b- rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Worthington Industries has an average rating of Hold and a consensus price target of $44.67.

NYSE WOR opened at $34.74 on Friday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 12.54 and a beta of 1.15. Worthington Industries has a twelve month low of $31.42 and a twelve month high of $47.51. 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 stock has a 50-day moving average of $39.06 and a 200 day moving average of $38.10.

Worthington Industries (NYSE:WOR) last announced its earnings results on Wednesday, June 26th. The industrial products company reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. Worthington Industries had a return on equity of 17.33% and a net margin of 4.08%. The business had revenue of $938.80 million during the quarter, compared to analysts’ expectations of $986.47 million. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The business’s revenue was down 8.0% compared to the same quarter last year. Equities analysts predict that Worthington Industries will post 3.28 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.76%. This is a boost from Worthington Industries’s previous quarterly dividend of $0.23. Worthington Industries’s dividend payout ratio is presently 33.21%.

In other Worthington Industries news, SVP Catherine M. Lyttle sold 4,000 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $40.47, for a total transaction of $161,880.00. Following the completion of the transaction, the senior vice president now owns 30,408 shares of the company’s stock, valued at $1,230,611.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Blystone bought 20,941 shares of Worthington Industries stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $39.86 per share, with a total value of $834,708.26. Following the acquisition, the director now directly 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 owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the business. Texas Permanent School Fund increased its holdings in shares of Worthington Industries by 1.3% in the first quarter. Texas Permanent School Fund now owns 26,658 shares of the industrial products company’s stock valued at $995,000 after purchasing an additional 330 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Worthington Industries by 1.2% in the first quarter. Rhumbline Advisers now owns 132,027 shares of the industrial products company’s stock valued at $4,927,000 after purchasing an additional 1,609 shares during the last quarter. Norges Bank acquired a new stake in shares of Worthington Industries in the fourth quarter valued at approximately $22,210,000. Deutsche Bank AG increased its holdings in shares of Worthington Industries by 20.0% in the fourth quarter. Deutsche Bank AG now owns 167,665 shares of the industrial products company’s stock valued at $5,839,000 after purchasing an additional 27,998 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of Worthington Industries by 120.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 34,015 shares of the industrial products company’s stock valued at $1,269,000 after purchasing an additional 18,603 shares during the last quarter. 48.30% of the stock is owned by institutional investors and hedge funds.

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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