Worthington Industries (WOR) Given New $45.00 Price Target at JPMorgan Chase & Co.

Worthington Industries (NYSE:WOR) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $48.00 to $45.00 in a note issued to investors on Thursday. The brokerage presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 5.88% from the stock’s current price.

WOR has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Worthington Industries from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Saturday, June 30th. ValuEngine lowered shares of Worthington Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th.

Shares of NYSE:WOR opened at $42.50 on Thursday. Worthington Industries has a 12 month low of $39.52 and a 12 month high of $49.93. The company has a current ratio of 1.92, a quick ratio of 1.22 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.75 billion, a P/E ratio of 14.76 and a beta of 0.99.

Worthington Industries (NYSE:WOR) last issued its quarterly earnings data on Wednesday, September 26th. The industrial products company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.10). Worthington Industries had a return on equity of 17.39% and a net margin of 5.44%. The company had revenue of $988.10 million for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. research analysts predict that Worthington Industries will post 3.39 earnings per share for the current fiscal year.

In related news, Director Sidney A. Ribeau sold 8,200 shares of the firm’s stock in a transaction on Friday, June 29th. The shares were sold at an average price of $42.42, for a total value of $347,844.00. Following the completion of the transaction, the director now owns 48,119 shares of the company’s stock, valued at $2,041,207.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Terrence M. Dyer sold 14,551 shares of the firm’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $46.81, for a total transaction of $681,132.31. Following the completion of the transaction, the vice president now directly owns 18,491 shares of the company’s stock, valued at approximately $865,563.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,751 shares of company stock valued at $5,628,976. 31.30% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in WOR. Wells Fargo & Company MN raised its position in Worthington Industries by 1.5% in the first quarter. Wells Fargo & Company MN now owns 84,634 shares of the industrial products company’s stock valued at $3,632,000 after purchasing an additional 1,250 shares during the period. Swiss National Bank raised its position in Worthington Industries by 3.1% in the first quarter. Swiss National Bank now owns 82,400 shares of the industrial products company’s stock valued at $3,537,000 after purchasing an additional 2,500 shares during the period. Schwab Charles Investment Management Inc. raised its position in Worthington Industries by 5.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 355,254 shares of the industrial products company’s stock valued at $15,248,000 after purchasing an additional 17,208 shares during the period. BlackRock Inc. raised its position in Worthington Industries by 4.2% in the first quarter. BlackRock Inc. now owns 5,479,063 shares of the industrial products company’s stock valued at $235,162,000 after purchasing an additional 220,509 shares during the period. Finally, Federated Investors Inc. PA raised its position in Worthington Industries by 37.7% in the first quarter. Federated Investors Inc. PA now owns 95,560 shares of the industrial products company’s stock valued at $4,101,000 after purchasing an additional 26,184 shares during the period. 50.54% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Outstanding Shares

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