Zacks Investment Research upgraded shares of Worthington Industries (NYSE:WOR) from a sell rating to a hold rating in a report published on Saturday.

According to Zacks, “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. The Steel Processing segment processes flat-rolled steel for customers primarily in the automotive, aerospace, agricultural, appliance, construction, container, hardware, HVAC, lawn and garden, leisure and recreation, and office furniture and equipment markets. It also toll processes steel for steel mills, large end-users, service centers, and other processors; and designs and manufactures reusable custom steel platforms, racks, and pallets for supporting, protecting, and handling products in the shipping process. The Pressure Cylinders segment manufactures and sells filled and unfilled pressure cylinders, tanks, hand torches, oil and gas equipment etc. “

Separately, ValuEngine cut Worthington Industries from a buy rating to a hold rating in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Worthington Industries currently has a consensus rating of Hold and an average target price of $46.50.

Shares of Worthington Industries (NYSE WOR) opened at $44.27 on Friday. The stock has a market capitalization of $2,790.00, a price-to-earnings ratio of 16.16, a P/E/G ratio of 3.48 and a beta of 1.10. Worthington Industries has a one year low of $39.52 and a one year high of $53.27. The company has a quick ratio of 1.32, a current ratio of 2.11 and a debt-to-equity ratio of 0.74.

Worthington Industries (NYSE:WOR) last released its quarterly earnings results on Tuesday, December 19th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). The firm had revenue of $871.30 million during the quarter, compared to the consensus estimate of $823.50 million. Worthington Industries had a net margin of 5.43% and a return on equity of 17.07%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. equities analysts predict that Worthington Industries will post 3.02 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.84 annualized dividend and a yield of 1.90%. Worthington Industries’s dividend payout ratio is presently 30.66%.

Worthington Industries declared that its Board of Directors has authorized a stock buyback plan on Wednesday, September 27th that authorizes the company to repurchase 6,830,000 shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, insider John G. Lamprinakos sold 7,500 shares of the business’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $44.96, for a total transaction of $337,200.00. Following the completion of the transaction, the insider now owns 70,751 shares of the company’s stock, valued at approximately $3,180,964.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Karmanos sold 45,376 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $45.77, for a total value of $2,076,859.52. Following the transaction, the director now directly owns 85,840 shares of the company’s stock, valued at approximately $3,928,896.80. The disclosure for this sale can be found here. Insiders sold a total of 72,876 shares of company stock valued at $3,290,460 over the last ninety days. Insiders own 31.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of WOR. Acrospire Investment Management LLC raised its holdings in shares of Worthington Industries by 81.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the industrial products company’s stock worth $100,000 after buying an additional 900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Worthington Industries by 11.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the industrial products company’s stock worth $115,000 after buying an additional 227 shares in the last quarter. Salem Investment Counselors Inc. raised its holdings in shares of Worthington Industries by 166.7% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,699 shares of the industrial products company’s stock worth $125,000 after buying an additional 1,687 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Worthington Industries by 78.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,675 shares of the industrial products company’s stock worth $134,000 after buying an additional 1,175 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Worthington Industries during the 2nd quarter worth $212,000. 52.46% of the stock is owned by institutional investors.

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Worthington Industries Company Profile

Worthington Industries, Inc is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors.

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