Worthington Industries, Inc. (NYSE:WOR) - Analysts at Jefferies Group raised their Q1 2018 EPS estimates for Worthington Industries in a research report issued on Wednesday. Jefferies Group analyst S. Rosenfeld now expects that the industrial products company will post earnings of $1.03 per share for the quarter, up from their previous forecast of $0.88. Jefferies Group currently has a “Hold” rating and a $47.00 target price on the stock. Jefferies Group also issued estimates for Worthington Industries’ Q2 2018 earnings at $0.75 EPS and Q4 2018 earnings at $0.87 EPS.
Several other research analysts also recently weighed in on the stock. BidaskClub upgraded shares of Worthington Industries from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Zacks Investment Research upgraded shares of Worthington Industries from a “sell” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Wednesday, June 7th. Finally, J P Morgan Chase & Co decreased their target price on shares of Worthington Industries from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Monday, April 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Worthington Industries presently has a consensus rating of “Hold” and a consensus price target of $47.33.
Shares of Worthington Industries (WOR) opened at 52.11 on Thursday. The stock has a market capitalization of $3.27 billion, a PE ratio of 16.54 and a beta of 1.14. The stock’s 50 day moving average is $47.50 and its 200 day moving average is $46.65. Worthington Industries has a 52-week low of $39.28 and a 52-week high of $62.44.
Worthington Industries (NYSE:WOR) last issued its quarterly earnings results on Wednesday, June 28th. The industrial products company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.04. Worthington Industries had a net margin of 6.78% and a return on equity of 20.59%. The company had revenue of $845.30 million during the quarter, compared to analysts’ expectations of $785.58 million. During the same quarter last year, the company posted $0.87 EPS. The firm’s revenue was up 18.3% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.61%. This is an increase from Worthington Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, September 12th.
In other Worthington Industries news, VP Dale T. Brinkman sold 28,212 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $49.50, for a total transaction of $1,396,494.00. Following the transaction, the vice president now directly owns 71,087 shares in the company, valued at approximately $3,518,806.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sidney A. Ribeau sold 5,000 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $50.34, for a total transaction of $251,700.00. Following the transaction, the director now owns 42,519 shares in the company, valued at $2,140,406.46. The disclosure for this sale can be found here. Corporate insiders own 32.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of WOR. BlackRock Inc. increased its position in Worthington Industries by 11,805.4% in the first quarter. BlackRock Inc. now owns 5,287,765 shares of the industrial products company’s stock worth $238,426,000 after buying an additional 5,243,350 shares during the last quarter. State Street Corp increased its position in Worthington Industries by 7.8% in the first quarter. State Street Corp now owns 2,372,663 shares of the industrial products company’s stock worth $106,987,000 after buying an additional 171,756 shares during the last quarter. AQR Capital Management LLC increased its position in Worthington Industries by 5.6% in the first quarter. AQR Capital Management LLC now owns 1,646,104 shares of the industrial products company’s stock worth $74,223,000 after buying an additional 87,117 shares during the last quarter. Bank of New York Mellon Corp increased its position in Worthington Industries by 33.7% in the first quarter. Bank of New York Mellon Corp now owns 1,249,841 shares of the industrial products company’s stock worth $56,355,000 after buying an additional 315,238 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Worthington Industries by 14.0% in the first quarter. JPMorgan Chase & Co. now owns 997,547 shares of the industrial products company’s stock worth $44,979,000 after buying an additional 122,526 shares during the last quarter. Institutional investors own 54.40% of the company’s stock.
About Worthington Industries
Worthington Industries, Inc is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. 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.
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