Posted by admin on Jun 25th, 2022

Worthington Industries (NYSE:WOR – Get Rating) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

Shares of NYSE WOR opened at $46.39 on Friday. The stock has a fifty day moving average price of $46.33 and a 200 day moving average price of $51.85. The company has a current ratio of 1.85, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. Worthington Industries has a 12-month low of $39.13 and a 12-month high of $65.60. The company has a market cap of $2.33 billion, a P/E ratio of 5.83 and a beta of 0.99.

Worthington Industries (NYSE:WOR – Get Rating) last announced its earnings results on Tuesday, March 22nd. The industrial products company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.24). The firm had revenue of $1.38 billion during the quarter. Worthington Industries had a net margin of 7.24% and a return on equity of 23.06%. The company’s revenue for the quarter was up 81.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.36 EPS. On average, sell-side analysts forecast that Worthington Industries will post 4.63 EPS for the current fiscal year.

In related news, Director Sidney A. Ribeau sold 8,000 shares of the firm’s stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $57.16, for a total transaction of $457,280.00. Following the transaction, the director now directly owns 58,505 shares in the company, valued at $3,344,145.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 37.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of WOR. Stratos Wealth Partners LTD. bought a new stake in Worthington Industries during the fourth quarter worth approximately $202,000. Renaissance Technologies LLC increased its holdings in shares of Worthington Industries by 14.8% in the fourth quarter. Renaissance Technologies LLC now owns 118,657 shares of the industrial products company’s stock valued at $6,486,000 after buying an additional 15,257 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Worthington Industries by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,700,361 shares of the industrial products company’s stock valued at $92,939,000 after purchasing an additional 8,144 shares during the period. Gateway Investment Advisers LLC raised its stake in Worthington Industries by 54.8% during the 4th quarter. Gateway Investment Advisers LLC now owns 128,961 shares of the industrial products company’s stock valued at $7,049,000 after purchasing an additional 45,639 shares during the period. Finally, Itau Unibanco Holding S.A. raised its stake in Worthington Industries by 101.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 2,829 shares of the industrial products company’s stock valued at $153,000 after purchasing an additional 1,425 shares during the period. Institutional investors and hedge funds own 45.96% of the company’s stock.

Worthington Industries Company Profile (Get Rating)

Worthington Industries, Inc, an industrial manufacturing company, focuses on value-added steel processing and manufactured metal products in North America and internationally. It operates through Steel Processing, Consumer Products, Building Products, and Sustainable Energy Solutions segments. The Steel Processing segment processes flat-rolled steel for customers primarily in the automotive, aerospace, agricultural, appliance, construction, container, hardware, heavy-truck, HVAC, lawn and garden, leisure and recreation, office furniture, and office equipment markets.

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