Worthington Industries Inc. (WOR) Trading Down 0.9%
Worthington Industries Inc. (NYSE:WOR) shares fell 0.9% during mid-day trading on Friday . The stock traded as low as $42.72 and last traded at $42.97, with a volume of 96,152 shares traded. The stock had previously closed at $43.38.
Several brokerages have recently issued reports on WOR. Zacks Investment Research raised Worthington Industries from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Friday, June 17th. Jefferies Group reissued a “hold” rating and issued a $37.00 target price (up previously from $33.00) on shares of Worthington Industries in a research report on Friday, June 10th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Worthington Industries in a research report on Thursday, June 30th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $37.00.
The firm has a 50 day moving average of $43.41 and a 200-day moving average of $38.36. The company has a market cap of $2.77 billion and a P/E ratio of 19.50.
Worthington Industries (NYSE:WOR) last released its quarterly earnings results on Wednesday, June 29th. The company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.28. During the same period in the prior year, the company posted $0.52 EPS. The company earned $714.70 million during the quarter. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. Analysts forecast that Worthington Industries Inc. will post $2.90 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a $0.20 dividend. This is a positive change from Worthington Industries’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.80 annualized dividend and a yield of 1.85%.
In other Worthington Industries news, VP Dale T. Brinkman sold 4,188 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $42.10, for a total transaction of $176,314.80. Following the completion of the transaction, the vice president now owns 57,336 shares in the company, valued at $2,413,845.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geoffrey G. Gilmore sold 11,079 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $42.73, for a total value of $473,405.67. Following the transaction, the insider now owns 52,469 shares of the company’s stock, valued at approximately $2,242,000.37. The disclosure for this sale can be found here.
Worthington Industries, Inc is a diversified metals manufacturing company. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Company’s Steel Processing segment consists of the Worthington Steel business unit, Precision Specialty Metals, Inc and Worthington Steelpac Systems, LLC and also includes two consolidated joint ventures: Spartan Steel Coating, LLC, which operates a cold-rolled hot dipped galvanizing line in Monroe, Michigan, and TWB Company, LLC., which operates a laser welded blank business.
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