The stock of Worthington Industries, Inc. (NYSE:WOR) reached all time high today, Nov, 10 and still has $88.47 target or 69.00% above today’s $52.35 share price. This indicates more upside for the $3.50B company. This technical setup was reported by Barchart.com. If the $88.47 PT is reached, the company will be worth $2.42B 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 172,873 shares traded hands. Worthington Industries, Inc. (NYSE:WOR) has risen 45.09% since April 8, 2016 and is uptrending. It has outperformed by 39.45% 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. Jefferies maintained it with “Hold” rating and $42 target price in Thursday, September 29 report. The firm has “Neutral” rating given on Thursday, March 24 by JP Morgan.
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.
Babson Cap Mgmt Limited has invested 0.1% of its portfolio in Worthington Industries, Inc. (NYSE:WOR). Piermont Capital Management last reported 37,265 shares in the company. Profund Lc holds 14,528 shares or 0.03% of its portfolio. Advantus Cap Mngmt accumulated 5,445 shares or 0.01% of the stock. Moreover, Prtnrs Limited Liability Company has 0.15% invested in Worthington Industries, Inc. (NYSE:WOR) for 44,741 shares. Prtn Limited Oh Adv accumulated 9,367 shares or 0.39% of the stock. Dimensional Fund Advsr Lp has 1.90 million shares for 0.05% of their US portfolio. Invesco Limited, a Georgia-based fund reported 218,883 shares. Metropolitan Life Ins Company Ny has 0.02% invested in the company for 73,492 shares. The New York-based State Bank Of New York Mellon has invested 0.01% in Worthington Industries, Inc. (NYSE:WOR). Moreover, Piedmont Inv Advsrs Ltd has 0% invested in Worthington Industries, Inc. (NYSE:WOR) for 148 shares. Td Asset Mgmt holds 7,880 shares or 0% of its portfolio. Moreover, Deutsche Bank & Trust Ag has 0.01% invested in Worthington Industries, Inc. (NYSE:WOR) for 223,202 shares. Federated Pa accumulated 458,025 shares or 0.06% of the stock. California Public Employees Retirement Sys holds 0.01% or 197,800 shares in its portfolio.
Insider Transactions: Since July 6, 2016, the stock had 0 buys, and 3 sales for $808,610 net activity. GILMORE GEOFFREY G also sold $473,406 worth of Worthington Industries, Inc. (NYSE:WOR) on Wednesday, August 3. BRINKMAN DALE T sold $176,316 worth of stock or 4,188 shares. Another trade for 3,750 shares valued at $158,888 was sold by LYTTLE CATHERINE M.
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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