The stock of Worthington Industries, Inc. (NYSE:WOR) reached all time high today, Oct, 10 and still has $68.25 target or 38.00% above today’s $49.46 share price. This indicates more upside for the $3.18 billion company. This technical setup was reported by Barchart.com. If the $68.25 PT is reached, the company will be worth $1.21 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 122,431 shares traded hands. Worthington Industries, Inc. (NYSE:WOR) has risen 43.74% since March 7, 2016 and is uptrending. It has outperformed by 36.14% 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 firm has “Hold” rating given on Thursday, September 29 by Jefferies. JP Morgan maintained it with “Neutral” rating and $36 target price in Thursday, March 24 report. The stock has “Hold” rating given by Zacks 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 increased to 1.31 in 2016 Q2. Its up 0.43, from 0.88 in 2016Q1. The ratio increased, 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.
Citigroup Inc holds 0% or 22,397 shares in its portfolio. Deere & Company last reported 0.01% of its portfolio in the stock. National Bank Of Montreal Can accumulated 0% or 49,725 shares. Moreover, Firstmerit Commercial Bank N A Trustee has 0.03% invested in Worthington Industries, Inc. (NYSE:WOR) for 9,000 shares. Glenmede Na holds 61 shares or 0% of its portfolio. Northern Trust Corp, a Illinois-based fund reported 729,841 shares. Swiss Comml Bank last reported 0.01% of its portfolio in the stock. Keybank National Association Oh last reported 0% of its portfolio in the stock. Shelton Mgmt has invested 0.04% of its portfolio in Worthington Industries, Inc. (NYSE:WOR). Van Eck Associate owns 119,838 shares or 0.03% of their US portfolio. The Connecticut-based Tudor Invest Et Al has invested 0.01% in Worthington Industries, Inc. (NYSE:WOR). Walleye Trading Ltd Com last reported 0% of its portfolio in the stock. Kcg Hldgs Incorporated holds 0.02% of its portfolio in Worthington Industries, Inc. (NYSE:WOR) for 26,271 shares. Hsbc Hldgs Public Ltd Limited Liability Company has 7,550 shares for 0% of their US portfolio. Pacad Inv holds 11,400 shares or 0.07% of its portfolio.
Insider Transactions: Since April 27, 2016, the stock had 0 insider purchases, and 4 insider sales for $1.24 million net activity. Another trade for 4,188 shares valued at $176,316 was made by BRINKMAN DALE T on Thursday, July 7. 3,750 shares with value of $158,888 were sold by LYTTLE CATHERINE M on Wednesday, July 6. GILMORE GEOFFREY G sold $473,406 worth of Worthington Industries, Inc. (NYSE:WOR) on Wednesday, August 3.
More 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 the news titled: “Worthington Industries’ stock surges after results beat expectations” on June 29, 2016. Bizjournals.com‘s news article titled: “Worthington Industries exec resigns” with publication date: January 29, 2016 was also an interesting one.
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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