The stock of Worthington Industries, Inc. (NYSE:WOR) hit a new 52-week high and has $63.58 target or 23.00% above today’s $51.69 share price. The 5 months bullish chart indicates low risk for the $3.35B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $63.58 price target is reached, the company will be worth $770.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 357,181 shares traded hands. Worthington Industries, Inc. (NYSE:WOR) has risen 42.28% since April 7, 2016 and is uptrending. It has outperformed by 37.50% the S&P500.
Worthington Industries, Inc. (NYSE:WOR) Ratings Coverage
Out of 2 analysts covering Worthington Industries (NYSE:WOR), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Worthington Industries has been the topic of 4 analyst reports since August 27, 2015 according to StockzIntelligence Inc. The stock has “Hold” rating given by Zacks on Thursday, August 27. JP Morgan maintained it with “Neutral” rating and $36 target price in Thursday, March 24 report. As per Thursday, September 29, the company rating was maintained by Jefferies.
According to Zacks Investment Research, “Worthington Industries is one of the leading diversified metal processing companies. The company is one of North America’s premier value-added steel processors and one of the leaders in manufactured metal products such as automotive aftermarket stampings, pressure cylinders, metal framing, metal ceiling grid systems and laser welded blanks. (Company Press Release)”
Insitutional Activity: The institutional sentiment increased to 1.31 in 2016 Q2. Its up 0.43, from 0.88 in 2016Q1. The ratio is positive, as 21 funds sold all Worthington Industries, Inc. shares owned while 67 reduced positions. 47 funds bought stakes while 68 increased positions. They now own 31.15 million shares or 2.18% more from 30.49 million shares in 2016Q1.
Dorsey Wright Assocs holds 31,144 shares or 0.7% of its portfolio. Oregon Pub Employees Retirement Fund accumulated 16,048 shares or 0.02% of the stock. Paloma Prtnrs Management accumulated 47,840 shares or 0.02% of the stock. Ameriprise Financial reported 114,062 shares or 0% of all its holdings. Tudor Invest Et Al has 14,269 shares for 0.01% of their US portfolio. Tfs Lc holds 0.04% of its portfolio in Worthington Industries, Inc. (NYSE:WOR) for 4,790 shares. Tiaa Cref Investment Mgmt Ltd Company has 0.01% invested in the company for 242,012 shares. Moreover, Rhumbline Advisers has 0.01% invested in Worthington Industries, Inc. (NYSE:WOR) for 92,884 shares. Pnc Financial Svcs Grp last reported 21,483 shares in the company. Firstmerit Comml Bank N A Trustee accumulated 9,000 shares or 0.03% of the stock. Voya Investment Mgmt Ltd Company, a Georgia-based fund reported 991,909 shares. Globeflex Lp last reported 0.28% of its portfolio in the stock. Advsrs Asset Mgmt has invested 0% of its portfolio in Worthington Industries, Inc. (NYSE:WOR). Parametric Portfolio Associates Lc holds 143,072 shares or 0.01% of its portfolio. Budros Ruhlin Roe last reported 0.17% of its portfolio in the stock.
Insider Transactions: Since July 6, 2016, the stock had 0 buys, and 3 selling transactions for $808,610 net activity. Shares for $473,406 were sold by GILMORE GEOFFREY G on Wednesday, August 3. Shares for $176,316 were sold by BRINKMAN DALE T. The insider LYTTLE CATHERINE M sold 3,750 shares worth $158,888.
More important recent Worthington Industries, Inc. (NYSE:WOR) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Newmont Mining, Worthington Industries and Graphic …” on September 09, 2016, also Marketwatch.com published article titled: “Worthington Industries’ stock surges after results beat expectations”, Bizjournals.com published: “Worthington Industries exec resigns” on January 29, 2016. More interesting news about Worthington Industries, Inc. (NYSE:WOR) was released by: Nasdaq.com and their article: “Worthington Industries Inc. Q1 Profit Advances 105%” with publication date: September 28, 2016.
WOR Company Profile
Worthington Industries, Inc., incorporated on August 24, 1998, is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s divisions include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Company’s manufactured metal products include pressure cylinders for liquefied petroleum gas (LPG), compressed natural gas (CNG), oxygen, refrigerant and other industrial gas storage; hand torches and filled hand torch cylinders; propane-filled camping cylinders; helium-filled balloon kits; steel and fiberglass tanks and processing equipment primarily for the gas and oil industry; cryogenic pressure vessels for liquefied natural gas (LNG) and other gas storage applications; engineered cabs and operator stations and cab components, and through joint ventures, suspension grid systems for concealed and lay-in panel ceilings; laser welded blanks; light gauge steel framing for commercial and residential construction, and automotive service stampings.
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