Noteworthy Rating Filing: Worthington (WOR) Gets Lower Rating From Macquarie. What Is The Stock Target?

November 29, 2016 - By Clifton Ray

Noteworthy Rating Filing: Worthington (WOR) Gets Lower Rating From Macquarie. What Is The Stock Target?

Worthington (WOR) Downgrade

EU-listed Worthington (WOR), was lowered by analysts at Macquarie. Macquarie lowered its rating on the $3.63B market cap company to a “Underperform” from a previous “Neutral”.

About 348,610 shares traded hands. Worthington Industries, Inc. (WOR) has risen 62.39% since April 26, 2016 and is uptrending. It has outperformed by 57.13% the S&P500.

Analysts await Worthington Industries, Inc. (NYSE:WOR) to report earnings on December, 19 after the close. They expect $0.74 earnings per share, up 23.33% or $0.14 from last year’s $0.6 per share. WOR’s profit will be $46.15M for 19.66 P/E if the $0.74 EPS becomes a reality. After $1.03 actual earnings per share reported by Worthington Industries, Inc. for the previous quarter, Wall Street now forecasts -28.16% negative EPS growth.

Insitutional Activity: The institutional sentiment decreased to 1.2 in Q2 2016. Its down 0.11, from 1.31 in 2016Q1. The ratio dropped, as 21 funds sold all Worthington Industries, Inc. shares owned while 67 reduced positions. 47 funds bought stakes while 68 increased positions. They now own 31.15 million shares or 2.18% more from 30.49 million shares in 2016Q1.

Gray Group Incorporated Ga Adv Adv, a Georgia-based fund reported 4,893 shares. Trust Co Of Toledo Na Oh has 0.07% invested in the company for 6,000 shares. Murphy Cap has invested 0.04% of its portfolio in Worthington Industries, Inc. (NYSE:WOR). The Kentucky-based Teachers Retirement System Of The State Of Kentucky has invested 0.01% in Worthington Industries, Inc. (NYSE:WOR). Deutsche Bank & Trust Ag last reported 0.01% of its portfolio in the stock. Stifel Fincl Corp holds 0% of its portfolio in Worthington Industries, Inc. (NYSE:WOR) for 5,861 shares. Balyasny Asset Mgmt Ltd Company holds 0% or 6,036 shares in its portfolio. Clean Yield Grp Inc has 0.15% invested in the company for 8,200 shares. Meeder Asset holds 0.01% or 2,726 shares in its portfolio. Brown Advisory holds 5,152 shares or 0% of its portfolio. The Pennsylvania-based Tfs Limited Com has invested 0.04% in Worthington Industries, Inc. (NYSE:WOR). Citigroup reported 22,397 shares or 0% of all its holdings. Keybank Natl Association Oh has 0% invested in the company for 11,124 shares. Nationwide Fund Advisors reported 112,430 shares or 0.02% of all its holdings. Kcg Hldgs holds 0.02% or 26,271 shares in its portfolio.

Insider Transactions: Since July 6, 2016, the stock had 0 insider purchases, and 3 insider sales for $808,610 net activity. On Thursday, July 7 BRINKMAN DALE T sold $176,316 worth of the stock or 4,188 shares. 11,079 shares were sold by GILMORE GEOFFREY G, worth $473,406 on Wednesday, August 3. Another trade for 3,750 shares valued at $158,888 was sold by LYTTLE CATHERINE M.

Worthington Industries, Inc. is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The company has a market cap of $3.63 billion. The Company’s divisions include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. It has a 21.13 P/E ratio. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors.

According to Zacks Investment Research, “Worthington Industries is one of the leading diversified metal processing companies. The company is one of North America’s premier value-added steel processors and one of the leaders in manufactured metal products such as automotive aftermarket stampings, pressure cylinders, metal framing, metal ceiling grid systems and laser welded blanks. (Company Press Release)”

WOR Company Profile

Worthington Industries, Inc., incorporated on August 24, 1998, is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s divisions include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Company’s manufactured metal products include pressure cylinders for liquefied petroleum gas (LPG), compressed natural gas (CNG), oxygen, refrigerant and other industrial gas storage; hand torches and filled hand torch cylinders; propane-filled camping cylinders; helium-filled balloon kits; steel and fiberglass tanks and processing equipment primarily for the gas and oil industry; cryogenic pressure vessels for liquefied natural gas (LNG) and other gas storage applications; engineered cabs and operator stations and cab components, and through joint ventures, suspension grid systems for concealed and lay-in panel ceilings; laser welded blanks; light gauge steel framing for commercial and residential construction, and automotive service stampings.

More important recent Worthington Industries, Inc. (NYSE:WOR) news were published by: Bizjournals.com which released: “Worthington Industries cutting 555 jobs, including 100+ in Ohio” on March 24, 2015, also Marketwatch.com published article titled: “Worthington Industries’ stock surges after results beat expectations”, Bizjournals.com published: “Worthington Industries exec resigns” on January 29, 2016. More interesting news about Worthington Industries, Inc. (NYSE:WOR) was released by: Finance.Yahoo.com and their article: “Worthington Industries Named to Victory Media’s 2017 Military Friendly(R …” with publication date: November 11, 2016.

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