Worthington Industries (NYSE:WOR) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Worthington Industries (NYSE:WORGet Rating) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

Separately, StockNews.com raised shares of Worthington Industries from a sell rating to a hold rating in a research report on Saturday, May 14th.

Worthington Industries stock opened at $47.16 on Wednesday. The company has a market cap of $2.36 billion, a P/E ratio of 5.92 and a beta of 0.99. Worthington Industries has a 1-year low of $41.50 and a 1-year high of $68.96. The company has a fifty day simple moving average of $49.55 and a 200 day simple moving average of $53.04. 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 (NYSE:WORGet Rating) last announced its quarterly earnings data on Tuesday, March 22nd. The industrial products company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.24). Worthington Industries had a net margin of 8.78% and a return on equity of 26.10%. The firm had revenue of $1.38 billion during the quarter. During the same period in the previous year, the business posted $1.36 earnings per share. Worthington Industries’s revenue for the quarter was up 81.6% on a year-over-year basis. On average, equities research analysts forecast that Worthington Industries will post 6.55 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 29th. Stockholders of record on Wednesday, June 15th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Tuesday, June 14th. Worthington Industries’s dividend payout ratio is presently 14.07%.

In other news, Director Sidney A. Ribeau sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $57.16, for a total transaction of $457,280.00. Following the completion of the sale, the director now owns 58,505 shares in the company, valued at approximately $3,344,145.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 37.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of WOR. Paragon Capital Management Ltd acquired a new stake in shares of Worthington Industries during the 4th quarter worth about $29,000. Meeder Asset Management Inc. acquired a new stake in shares of Worthington Industries during the 1st quarter worth about $33,000. UMB Bank N A MO acquired a new stake in Worthington Industries in the 4th quarter worth about $35,000. Tortoise Investment Management LLC acquired a new stake in Worthington Industries in the 1st quarter worth about $36,000. Finally, Pinebridge Investments L.P. acquired a new stake in Worthington Industries in the 4th quarter worth about $55,000. Institutional investors 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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