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. “
A number of other research analysts have also issued reports on the company. Cfra upgraded Worthington Industries from a sell rating to a hold rating in a report 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’s stock. The stock presently has an average rating of Hold and an average target price of $31.50.
Worthington Industries (NYSE:WOR) last released its earnings results on Thursday, June 25th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.23. The firm had revenue of $611.60 million during the quarter, compared to analyst estimates of $653.00 million. Worthington Industries had a return on equity of 14.20% and a net margin of 2.58%. Worthington Industries’s revenue was down 34.9% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. Equities analysts forecast that Worthington Industries will post 2.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders 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 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 payout ratio is 40.85%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. increased its position in shares of Worthington Industries by 12.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,921,250 shares of the industrial products company’s stock worth $81,038,000 after purchasing an additional 220,104 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Worthington Industries by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 485,533 shares of the industrial products company’s stock worth $20,480,000 after purchasing an additional 19,401 shares in the last quarter. Bank of Montreal Can increased its position in shares of Worthington Industries by 43.7% during the fourth quarter. Bank of Montreal Can now owns 9,952 shares of the industrial products company’s stock worth $419,000 after purchasing an additional 3,025 shares in the last quarter. Martingale Asset Management L P increased its position in shares of Worthington Industries by 35.9% during the fourth quarter. Martingale Asset Management L P now owns 46,138 shares of the industrial products company’s stock worth $1,947,000 after purchasing an additional 12,200 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of Worthington Industries by 57.3% during the fourth quarter. LSV Asset Management now owns 179,375 shares of the industrial products company’s stock worth $7,566,000 after purchasing an additional 65,322 shares in the last quarter. 45.91% of the stock is owned by institutional investors.
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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