Worthington Industries (WOR) Reaches New 12-Month Low at $38.18

Shares of Worthington Industries, Inc. (NYSE:WOR) reached a new 52-week low during trading on Thursday . The company traded as low as $38.18 and last traded at $38.61, with a volume of 1332 shares traded. The stock had previously closed at $39.77.

A number of research firms have commented on WOR. Zacks Investment Research downgraded shares of Worthington Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. ValuEngine upgraded shares of Worthington Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, November 7th. JPMorgan Chase & Co. dropped their price target on shares of Worthington Industries from $48.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, September 27th. Finally, Jefferies Financial Group dropped their price target on shares of Worthington Industries from $48.00 to $47.00 and set a “hold” rating on the stock in a research report on Thursday, September 27th.

The company has a current ratio of 1.98, a quick ratio of 1.18 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $2.35 billion, a P/E ratio of 13.30 and a beta of 0.83.

Worthington Industries (NYSE:WOR) last released its earnings results on Wednesday, September 26th. The industrial products company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.10). Worthington Industries had a return on equity of 18.42% and a net margin of 5.49%. The business had revenue of $988.10 million during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. Sell-side analysts expect that Worthington Industries, Inc. will post 3.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.40%. Worthington Industries’s payout ratio is currently 31.94%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its position in shares of Worthington Industries by 9.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 387,587 shares of the industrial products company’s stock worth $16,268,000 after acquiring an additional 32,333 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Worthington Industries by 10.8% in the second quarter. Macquarie Group Ltd. now owns 1,151,872 shares of the industrial products company’s stock worth $48,344,000 after acquiring an additional 112,524 shares in the last quarter. Paloma Partners Management Co increased its position in shares of Worthington Industries by 145.8% in the second quarter. Paloma Partners Management Co now owns 29,008 shares of the industrial products company’s stock worth $1,218,000 after acquiring an additional 17,206 shares in the last quarter. Neuburgh Advisers LLC increased its position in shares of Worthington Industries by 37.4% in the second quarter. Neuburgh Advisers LLC now owns 5,742 shares of the industrial products company’s stock worth $241,000 after acquiring an additional 1,562 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Worthington Industries by 2.4% in the second quarter. Voya Investment Management LLC now owns 1,212,125 shares of the industrial products company’s stock worth $50,873,000 after acquiring an additional 28,072 shares in the last quarter. Institutional investors and hedge funds own 50.89% of the company’s stock.

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Worthington Industries Company Profile (NYSE:WOR)

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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