November 29, 2016 - By Nellie Frank
Worthington Industries (NYSE:WOR)‘s “Neutral” rating is no longer valid. stock analysts at Macquarie cut Worthington Industries (NYSE:WOR)‘s rating to a “Underperform”.
Out of 2 analysts covering Worthington Industries (NYSE:WOR), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. $42 is the highest target while $30 is the lowest. The $39 average target is -32.87% below today’s ($58.1) stock price. Worthington Industries has been the topic of 4 analyst reports since August 27, 2015 according to StockzIntelligence Inc. The rating was maintained by Jefferies with “Hold” on Thursday, September 29. The stock has “Neutral” rating given by JP Morgan on Thursday, March 24. As per Thursday, August 27, the company rating was downgraded by Zacks.
About 817,860 shares traded hands or 31.92% up from the average. Worthington Industries, Inc. (NYSE: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 EPS, up 23.33% or $0.14 from last year’s $0.6 per share. WOR’s profit will be $46.10 million for 19.63 P/E if the $0.74 EPS becomes a reality. After $1.03 actual EPS 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 is negative, 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.
Aqr Mgmt Ltd Liability Corp holds 802,378 shares or 0.06% of its portfolio. Firstmerit Commercial Bank N A Trustee reported 9,000 shares or 0.03% of all its holdings. Ladenburg Thalmann Financial Serv has invested 0% of its portfolio in Worthington Industries, Inc. (NYSE:WOR). The Ontario – Canada-based Manufacturers Life The has invested 0.01% in Worthington Industries, Inc. (NYSE:WOR). The Alabama-based Spero has invested 0.28% in Worthington Industries, Inc. (NYSE:WOR). Balyasny Asset Management Limited Liability last reported 6,036 shares in the company. Bessemer Group Inc last reported 300 shares in the company. Strs Ohio holds 0.01% or 28,900 shares in its portfolio. First Mercantile reported 4,410 shares or 0.02% of all its holdings. Moreover, Quantitative Mgmt Limited Liability Co has 0.02% invested in Worthington Industries, Inc. (NYSE:WOR) for 11,500 shares. Twin Cap last reported 0.14% of its portfolio in the stock. American Century Companies has 0% invested in the company for 93,329 shares. The Michigan-based Comerica Retail Bank has invested 0.01% in Worthington Industries, Inc. (NYSE:WOR). Zurcher Kantonalbank (Zurich Cantonalbank), a Switzerland-based fund reported 1,064 shares. Greenwood Assocs Ltd Liability Corporation has 0.08% invested in the company for 6,276 shares.
Insider Transactions: Since July 6, 2016, the stock had 0 insider purchases, and 3 insider sales for $808,610 net activity. LYTTLE CATHERINE M sold $158,888 worth of stock. GILMORE GEOFFREY G had sold 11,079 shares worth $473,406. On Thursday, July 7 the insider BRINKMAN DALE T sold $176,316.
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 $3.62 billion. The Company’s divisions include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. It has a 21.09 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)”
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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By Nellie Frank