Notable Runner: After Making 52-Week High, Is Worthington Industries, Inc.’s Near-Term Analysis Positive?

Notable Runner: After Making 52 Week High, Is Worthington Industries, Inc.'s Near Term Analysis Positive?

The stock of Worthington Industries, Inc. (NYSE:WOR) hit a new 52-week high and has $82.19 target or 40.00% above today’s $58.71 share price. The 6 months bullish chart indicates low risk for the $3.82 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $82.19 price target is reached, the company will be worth $1.53B 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 331,410 shares traded hands. Worthington Industries, Inc. (NYSE:WOR) has risen 53.59% since April 19, 2016 and is uptrending. It has outperformed by 49.73% 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. JP Morgan maintained Worthington Industries, Inc. (NYSE:WOR) rating on Thursday, March 24. JP Morgan has “Neutral” rating and $36 price target. Jefferies maintained the stock with “Hold” rating in Thursday, September 29 report. The firm has “Hold” rating by Zacks given on Thursday, August 27.

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 decreased to 1.2 in Q2 2016. Its down 0.11, from 1.31 in 2016Q1. The ratio is negative, 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.
Sei holds 2,000 shares or 0% of its portfolio. Great West Life Assurance Can has 18,543 shares for 0% of their US portfolio. Blackrock Limited Liability holds 0% of its portfolio in Worthington Industries, Inc. (NYSE:WOR) for 88,334 shares. California Employees Retirement System holds 0.01% or 197,800 shares in its portfolio. Natl Asset Management owns 6,477 shares or 0.05% of their US portfolio. Gsa Capital Partners Llp last reported 0.12% of its portfolio in the stock. Sandy Spring National Bank accumulated 0% or 230 shares. Smith Asset Mgmt Grp Limited Partnership owns 729 shares or 0% of their US portfolio. Teacher Retirement Sys Of Texas reported 6,719 shares or 0% of all its holdings. Matarin Cap Management Ltd Liability Company holds 0% or 156,358 shares in its portfolio. Vanguard Gru, a Pennsylvania-based fund reported 4.02 million shares. Huntington Savings Bank last reported 0.03% of its portfolio in the stock. Northern Tru last reported 729,841 shares in the company. Central State Bank & has 1,387 shares for 0.02% of their US portfolio. Chicago Equity Limited Liability accumulated 0.06% or 50,555 shares.

Insider Transactions: Since July 6, 2016, the stock had 0 buys, and 3 insider sales for $808,610 net activity. The insider LYTTLE CATHERINE M sold $158,888. 11,079 Worthington Industries, Inc. (NYSE:WOR) shares with value of $473,406 were sold by GILMORE GEOFFREY G. 4,188 shares with value of $176,316 were sold by BRINKMAN DALE T on Thursday, July 7.

More important recent Worthington Industries, Inc. (NYSE:WOR) news were published by: Bizjournals.com which released: “Worthington Industries cutting 555 jobs, including 100+ in Ohio” on March 24, 2015, also Finance.Yahoo.com published article titled: “Worthington Industries Named to Victory Media’s 2017 Military Friendly(R …”, Marketwatch.com published: “Worthington Industries’ stock surges after results beat expectations” on June 29, 2016. More interesting news about Worthington Industries, Inc. (NYSE:WOR) was released by: Bizjournals.com and their article: “Worthington Industries exec resigns” with publication date: January 29, 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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