AZZ Inc. (AZZ) Sees Unusually-High Trading Volume
AZZ Inc. (NYSE:AZZ) saw strong trading volume on Wednesday . 246,969 shares changed hands during trading, an increase of 16% from the previous session’s volume of 212,063 shares.The stock last traded at $60.99 and had previously closed at $60.94.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of AZZ from a “buy” rating to a “hold” rating in a report on Friday, July 8th. DA Davidson reiterated a “hold” rating and set a $55.00 price target on shares of AZZ in a report on Wednesday, July 6th. Finally, Stifel Nicolaus assumed coverage on shares of AZZ in a report on Monday, March 28th. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus target price of $60.00.
The firm’s 50-day moving average price is $59.23 and its 200 day moving average price is $55.00. The company has a market cap of $1.58 billion and a P/E ratio of 20.34.
AZZ (NYSE:AZZ) last posted its earnings results on Tuesday, July 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by $0.03. The company had revenue of $242.70 million for the quarter. During the same period in the previous year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts expect that AZZ Inc. will post $3.30 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Monday, July 18th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, July 14th.
In other AZZ news, Director H Kirk Downey sold 3,750 shares of the company’s stock in a transaction on Friday, April 29th. The shares were sold at an average price of $54.58, for a total transaction of $204,675.00. Following the completion of the transaction, the director now directly owns 15,621 shares in the company, valued at $852,594.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
A number of institutional investors recently bought and sold shares of AZZ. GSA Capital Partners LLP boosted its position in AZZ by 66.1% in the fourth quarter. GSA Capital Partners LLP now owns 20,818 shares of the company’s stock worth $1,157,000 after buying an additional 8,283 shares in the last quarter. US Bancorp DE boosted its position in AZZ by 17.4% in the fourth quarter. US Bancorp DE now owns 21,753 shares of the company’s stock worth $1,209,000 after buying an additional 3,229 shares in the last quarter. Wells Fargo & Company MN boosted its position in AZZ by 333.7% in the fourth quarter. Wells Fargo & Company MN now owns 26,882 shares of the company’s stock worth $1,494,000 after buying an additional 20,683 shares in the last quarter. Nationwide Fund Advisors boosted its position in AZZ by 0.4% in the fourth quarter. Nationwide Fund Advisors now owns 30,487 shares of the company’s stock worth $1,694,000 after buying an additional 133 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in AZZ by 6.9% in the fourth quarter. Rhumbline Advisers now owns 37,309 shares of the company’s stock worth $2,073,000 after buying an additional 2,405 shares in the last quarter.
AZZ Inc, formerly AZZ incorporated, is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates in two business segments: the Energy segment and the Galvanizing Services segment.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.