Worthington Industries (NYSE:WOR) Earns Buy Rating from Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Worthington Industries (NYSE:WOR) in a research report issued on Monday. The brokerage set a “buy” rating on the industrial products company’s stock.

Separately, TheStreet cut Worthington Industries from a “b” rating to a “c+” rating in a research report on Monday, October 2nd.

Worthington Industries Price Performance

Worthington Industries stock traded up $0.19 during midday trading on Monday, hitting $66.01. 133,573 shares of the company’s stock were exchanged, compared to its average volume of 190,101. Worthington Industries has a 52-week low of $48.16 and a 52-week high of $77.42. The stock has a 50-day moving average price of $63.71 and a two-hundred day moving average price of $65.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.17 and a current ratio of 1.95. The company has a market cap of $3.30 billion, a P/E ratio of 11.36 and a beta of 1.35.

Worthington Industries (NYSE:WOR) last posted its earnings results on Thursday, September 28th. The industrial products company reported $2.06 EPS for the quarter, topping the consensus estimate of $2.04 by $0.02. Worthington Industries had a return on equity of 17.66% and a net margin of 6.14%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the business earned $1.61 earnings per share. The firm’s revenue was down 15.3% on a year-over-year basis. On average, equities research analysts forecast that Worthington Industries will post 5.55 earnings per share for the current year.

Hedge Funds Weigh In On Worthington Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. Sigma Planning Corp purchased a new position in shares of Worthington Industries in the 2nd quarter worth about $528,000. Barclays PLC lifted its stake in shares of Worthington Industries by 28.7% in the 2nd quarter. Barclays PLC now owns 72,054 shares of the industrial products company’s stock valued at $5,005,000 after acquiring an additional 16,062 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Worthington Industries by 9.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 42,684 shares of the industrial products company’s stock valued at $2,965,000 after acquiring an additional 3,536 shares during the last quarter. Cardinal Capital Management lifted its stake in shares of Worthington Industries by 1.5% in the 2nd quarter. Cardinal Capital Management now owns 12,192 shares of the industrial products company’s stock valued at $847,000 after acquiring an additional 177 shares during the last quarter. Finally, G2 Capital Management LLC OH lifted its stake in shares of Worthington Industries by 17.1% in the 2nd quarter. G2 Capital Management LLC OH now owns 5,964 shares of the industrial products company’s stock valued at $414,000 after acquiring an additional 872 shares during the last quarter. 45.30% of the stock is currently owned by hedge funds and other institutional investors.

About Worthington Industries

Worthington Industries, Inc, an industrial manufacturing company, focuses on value-added steel processing, laser welded solutions, electrical steel laminations and manufactured consumer, building and sustainable mobility products in North America and internationally. It operates through Steel Processing, Consumer Products, Building Products, and Sustainable Energy Solutions segments.