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. “
Other research analysts have also issued research reports about the company. Cfra raised Worthington Industries from a sell rating to a hold rating in a research note on Monday, March 30th. ValuEngine downgraded Worthington Industries from a hold rating to a sell rating in a report on Thursday, April 9th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Worthington Industries currently has a consensus rating of Hold and a consensus price target of $31.50.
Shares of Worthington Industries stock opened at $37.30 on Friday. Worthington Industries has a fifty-two week low of $19.28 and a fifty-two week high of $44.69. The firm has a market cap of $1.92 billion, a PE ratio of 26.64 and a beta of 1.20. The business’s fifty day moving average is $31.53 and its two-hundred day moving average is $32.61. The company has a quick ratio of 1.38, a current ratio of 2.15 and a debt-to-equity ratio of 0.75.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings results on Thursday, June 25th. The industrial products company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.23. Worthington Industries had a return on equity of 14.20% and a net margin of 2.58%. The company had revenue of $611.60 million for the quarter, compared to analyst estimates of $653.00 million. During the same quarter in the prior year, the company posted $0.77 EPS. The business’s revenue for the quarter was down 34.9% compared to the same quarter last year. Equities research analysts anticipate that Worthington Industries will post 2.32 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.68%. This is an increase from Worthington Industries’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, September 14th. Worthington Industries’s dividend payout ratio is presently 40.85%.
Hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank increased its holdings in Worthington Industries by 6.4% in the 4th quarter. Amalgamated Bank now owns 6,757 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 406 shares in the last quarter. Swiss National Bank increased its holdings in Worthington Industries by 0.9% in the 1st quarter. Swiss National Bank now owns 75,900 shares of the industrial products company’s stock valued at $1,992,000 after purchasing an additional 700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Worthington Industries by 30.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,369 shares of the industrial products company’s stock valued at $88,000 after purchasing an additional 788 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in Worthington Industries by 1.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 52,111 shares of the industrial products company’s stock valued at $2,198,000 after purchasing an additional 906 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Worthington Industries by 9.5% during the fourth quarter. ProShare Advisors LLC now owns 10,543 shares of the industrial products company’s stock valued at $445,000 after acquiring an additional 916 shares in the last quarter. Institutional investors and hedge funds own 45.91% of the company’s stock.
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.
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