Worthington Industries (NYSE:WOR) Earns Buy Rating from Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Worthington Industries (NYSE:WOR) in a research report issued to clients and investors on Monday. The firm set a “buy” rating on the industrial products company’s stock.

Separately, TheStreet cut Worthington Industries from a “b” rating to a “c+” rating in a report on Monday, October 2nd.

Worthington Industries Stock Performance

Shares of NYSE WOR traded up $0.19 during midday trading on Monday, hitting $66.01. 133,573 shares of the stock traded hands, compared to its average volume of 190,101. The firm has a 50-day moving average of $63.71 and a two-hundred day moving average of $65.59. The firm has a market capitalization of $3.30 billion, a P/E ratio of 11.36 and a beta of 1.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.17 and a current ratio of 1.95. Worthington Industries has a one year low of $48.16 and a one year high of $77.42.

Worthington Industries (NYSE:WOR) last released its quarterly earnings results on Thursday, September 28th. The industrial products company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.02. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Worthington Industries had a return on equity of 17.66% and a net margin of 6.14%. The company’s revenue was down 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 EPS. On average, equities analysts forecast that Worthington Industries will post 5.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Worthington Industries

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Worthington Industries by 13.0% during the first quarter. BlackRock Inc. now owns 4,571,279 shares of the industrial products company’s stock valued at $235,012,000 after acquiring an additional 526,776 shares during the period. Vanguard Group Inc. raised its holdings in Worthington Industries by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,328,906 shares of the industrial products company’s stock valued at $171,139,000 after acquiring an additional 12,047 shares during the period. Dimensional Fund Advisors LP raised its holdings in Worthington Industries by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,290,559 shares of the industrial products company’s stock valued at $148,081,000 after acquiring an additional 47,258 shares during the period. State Street Corp raised its holdings in Worthington Industries by 18.1% during the first quarter. State Street Corp now owns 2,010,543 shares of the industrial products company’s stock valued at $103,362,000 after acquiring an additional 307,667 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Worthington Industries by 3.3% during the second quarter. Geode Capital Management LLC now owns 611,221 shares of the industrial products company’s stock valued at $42,462,000 after acquiring an additional 19,252 shares during the period. 45.30% of the stock is owned by institutional investors.

About Worthington Industries

Worthington Industries, Inc, an industrial manufacturing company, focuses on value-added steel processing, laser welded solutions, electrical steel laminations and manufactured consumer, building and sustainable mobility products in North America and internationally. It operates through Steel Processing, Consumer Products, Building Products, and Sustainable Energy Solutions segments.