Worth Watching: Will Worthington Industries, Inc. Run Out of Steam Soon?

Worth Watching: Will Worthington Industries, Inc. Run Out of Steam Soon?

The stock of Worthington Industries, Inc. (NYSE:WOR) hit a new 52-week high and has $71.86 target or 45.00% above today’s $49.56 share price. The 8 months bullish chart indicates low risk for the $3.19 billion company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $71.86 price target is reached, the company will be worth $1.44B 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 83,492 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 stock of Worthington Industries, Inc. (NYSE:WOR) has “Neutral” rating given on Thursday, March 24 by JP Morgan. The rating was downgraded by Zacks to “Hold” on Thursday, August 27. Jefferies maintained Worthington Industries, Inc. (NYSE:WOR) rating on Thursday, September 29. Jefferies has “Hold” rating and $42 price target.

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.
Walleye Trading Limited Company holds 0% or 3,537 shares in its portfolio. Paloma Mngmt Com holds 47,840 shares or 0.02% of its portfolio. Blackrock Institutional Tru Na holds 0.01% or 1.50 million shares in its portfolio. Ameriprise Finance reported 114,062 shares or 0% of all its holdings. Weaver C Barksdale & Assocs Inc has invested 0.02% of its portfolio in Worthington Industries, Inc. (NYSE:WOR). Keybank Association Oh has 0% invested in the company for 11,124 shares. Comerica Fincl Bank holds 0.01% of its portfolio in Worthington Industries, Inc. (NYSE:WOR) for 32,157 shares. Blackrock Advsrs Ltd Llc holds 0% of its portfolio in Worthington Industries, Inc. (NYSE:WOR) for 88,334 shares. Northern Tru Corporation has 729,841 shares for 0.01% of their US portfolio. Advantus Mngmt owns 5,445 shares or 0.01% of their US portfolio. Teachers Retirement Systems Of The State Of Kentucky last reported 11,300 shares in the company. The Illinois-based Hightower Advsrs Lc has invested 0% in Worthington Industries, Inc. (NYSE:WOR). Moreover, Raymond James Finance Services has 0% invested in Worthington Industries, Inc. (NYSE:WOR) for 5,181 shares. Gemmer Asset Llc holds 0% of its portfolio in Worthington Industries, Inc. (NYSE:WOR) for 223 shares. Raymond James & Assocs last reported 0% of its portfolio in the stock.

Insider Transactions: Since April 27, 2016, the stock had 0 insider purchases, and 4 sales for $1.24 million net activity. The insider BRINKMAN DALE T sold 4,188 shares worth $176,316. $158,888 worth of shares were sold by LYTTLE CATHERINE M on Wednesday, July 6. The insider GILMORE GEOFFREY G sold $473,406.

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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