Macquarie Maintains Worthington Industries to Neutral with Price Target $35.00

Brokerage firm Macquarie Maintains its rating on Worthington Industries(NYSE:WOR). In a research note issued to the investors, the brokerage major Raises the price-target to $35.00 per share. The shares have been rated Neutral. The rating by Macquarie was issued on Sep 30, 2016.

In a different note, On Sep 29, 2016, Jefferies said it Maintains its rating on Worthington Industries. In the research note, the firm Raises the price-target to $37.00 per share. The shares have been rated ‘Hold’ by the firm.

Worthington Industries (WOR) shares turned negative on Tuesdays trading session with the shares closing down -1.04 points or -2.16% at a volume of 5,11,193. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $48.399. The peak price level was also seen at $48.399 while the days lowest was $46.97. Finally the shares closed at $47.17. The 52-week high of the shares is $48.5 while the 52-week low is $25.5. According to the latest information available, the market cap of the company is $3,013 M.

Worthington Industries has also declared a cash dividend of $0.2000 on Sep 28, 2016. The shares will quote ex-dividend on Dec 13, 2016 and the record date has been fixed on Dec 15, 2016. The dividend payable date has been fixed on Dec 29, 2016.

Worthington Industries(WOR) last announced its earnings results on Sep 28, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $737.55M. Analysts had an estimated revenue of $727.02M. Earnings per share were $1.03. Analysts had estimated an EPS of $0.78.

Several Insider Transactions has been reported to the SEC. On Aug 5, 2016, Geoffrey G Gilmore (President-Worthington Cylinder) sold 11,079 shares at $42.73 per share price.Also, On Jul 13, 2016, Dale T Brinkman (VP-Admin & Secretary) sold 4,188 shares at $42.09 per share price.On Jul 7, 2016, Catherine M Lyttle (Vice President-Communications) sold 3,750 shares at $42.37 per share price, according to the Form-4 filing with the securities and exchange commission.

Worthington Industries Inc. is a diversified metals manufacturing company. The Company’s segments include Steel Processing Pressure Cylinders Engineered Cabs and Other. The Company’s Steel Processing segment consists of the Worthington Steel business unit Precision Specialty Metals Inc. and Worthington Steelpac Systems LLC and also includes two consolidated joint ventures: Spartan Steel Coating LLC which operates a cold-rolled hot dipped galvanizing line in Monroe Michigan and TWB Company L.L.C. which operates a laser welded blank business. Its Pressure Cylinders segment consists of Worthington Cylinders business unit and three consolidated joint ventures: Worthington Nitin Cylinders Limited Worthington Aritas Basincli Kaplar Sanayi and dHybrid Systems LLC. Its Engineered Cabs segment consists of the Worthington Industries Engineered Cabs business unit. Its Other segment includes the Construction Services and Worthington Energy Innovations (WEI) operating segments.

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