Zacks Investment Research lowered shares of Worthington Industries (NYSE:WOR) from a buy rating to a hold rating in a research report report published on Friday morning, Zacks.com reports.

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. “

Shares of NYSE WOR opened at $34.61 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.27 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 12.02 and a beta of 1.09. Worthington Industries has a 12-month low of $31.42 and a 12-month high of $49.65.

Worthington Industries (NYSE:WOR) last announced its earnings results on Wednesday, March 20th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.06. The business had revenue of $874.38 million for the quarter, compared to analysts’ expectations of $927.32 million. Worthington Industries had a return on equity of 18.38% and a net margin of 3.81%. As a group, equities research analysts expect that Worthington Industries will post 2.74 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.66%. Worthington Industries’s payout ratio is 31.94%.

In other news, Director Sidney A. Ribeau sold 9,750 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $40.41, for a total value of $393,997.50. Following the completion of the sale, the director now owns 52,369 shares of the company’s stock, valued at approximately $2,116,231.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark C. Davis sold 14,985 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $39.57, for a total value of $592,956.45. Following the completion of the sale, the director now directly owns 35,165 shares of the company’s stock, valued at approximately $1,391,479.05. The disclosure for this sale can be found here. 33.20% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Texas Permanent School Fund raised its stake in Worthington Industries by 3.6% in the 4th quarter. Texas Permanent School Fund now owns 26,328 shares of the industrial products company’s stock worth $917,000 after acquiring an additional 909 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in Worthington Industries by 400.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 29,634 shares of the industrial products company’s stock worth $1,032,000 after acquiring an additional 23,711 shares during the last quarter. WINTON GROUP Ltd raised its stake in Worthington Industries by 2,817.9% in the 4th quarter. WINTON GROUP Ltd now owns 444,491 shares of the industrial products company’s stock worth $15,486,000 after acquiring an additional 429,258 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Worthington Industries by 1.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 844,972 shares of the industrial products company’s stock worth $36,637,000 after acquiring an additional 14,203 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Worthington Industries by 130.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 15,412 shares of the industrial products company’s stock worth $537,000 after purchasing an additional 8,716 shares during the last quarter. 48.00% of the stock is 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.

Featured Article: Buyback For Investors Defined

Get a free copy of the Zacks research report on Worthington Industries (WOR)

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.