Worthington Industries (WOR) Upgraded by ValuEngine to “Hold”
ValuEngine upgraded shares of Worthington Industries (NYSE:WOR) from a sell rating to a hold rating in a research note released on Wednesday.
Several other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Worthington Industries from a hold rating to a sell rating in a research note on Wednesday, September 12th. Jefferies Financial Group decreased their price objective on Worthington Industries from $48.00 to $47.00 and set a hold rating on the stock in a report on Thursday, September 27th. Finally, JPMorgan Chase & Co. decreased their price objective on Worthington Industries from $48.00 to $45.00 and set a neutral rating on the stock in a report on Thursday, September 27th.
WOR stock opened at $42.42 on Wednesday. Worthington Industries has a 1-year low of $39.29 and a 1-year high of $49.93. The company has a quick ratio of 1.18, a current ratio of 1.98 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 14.73 and a beta of 0.84.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.92 annualized dividend and a dividend yield of 2.17%. Worthington Industries’s dividend payout ratio (DPR) is 31.94%.
Several institutional investors and hedge funds have recently modified their holdings of WOR. Itau Unibanco Holding S.A. raised its holdings in shares of Worthington Industries by 126.4% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 2,420 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 1,351 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Worthington Industries during the 2nd quarter worth approximately $119,000. Meadow Creek Investment Management LLC raised its holdings in shares of Worthington Industries by 37.4% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 4,176 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 1,136 shares in the last quarter. Tiverton Asset Management LLC purchased a new stake in Worthington Industries during the 2nd quarter valued at $205,000. Finally, Vident Investment Advisory LLC purchased a new stake in Worthington Industries during the 2nd quarter valued at $206,000. 50.46% of the stock is currently 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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