AZZ Inc. (AZZ) Trading Up 2.9%
AZZ Inc. (NYSE:AZZ)’s share price was up 2.9% during trading on Thursday . The stock traded as high as $62.90 and last traded at $62.81, with a volume of 303,139 shares changing hands. The stock had previously closed at $61.03.
Several equities analysts recently commented on AZZ shares. Zacks Investment Research raised shares of AZZ from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Thursday, July 7th. Stifel Nicolaus started coverage on shares of AZZ in a report on Monday, March 28th. They set a “hold” rating on the stock. Finally, DA Davidson reaffirmed a “hold” rating and set a $55.00 target price on shares of AZZ in a report on Wednesday, July 6th. Five analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus target price of $60.00.
The firm’s 50 day moving average is $59.37 and its 200 day moving average is $55.06. The stock has a market capitalization of $1.63 billion and a price-to-earnings ratio of 20.94.
AZZ (NYSE:AZZ) last released its quarterly earnings data on Tuesday, July 5th. The company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.03. During the same period last year, the firm earned $0.77 earnings per share. The company had revenue of $242.70 million for the quarter. The company’s revenue was up 6.0% compared to the same quarter last year. Equities analysts expect that AZZ Inc. will post $3.30 earnings per share for the current fiscal year.
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, July 14th.
In related news, Director H Kirk Downey sold 3,750 shares of the company’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $54.58, for a total value of $204,675.00. Following the completion of the sale, the director now directly owns 15,621 shares of the company’s stock, valued at $852,594.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Other hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its stake in AZZ by 66.1% in the fourth quarter. GSA Capital Partners LLP now owns 20,818 shares of the company’s stock valued at $1,157,000 after buying an additional 8,283 shares during the last quarter. US Bancorp DE raised its stake in AZZ by 17.4% in the fourth quarter. US Bancorp DE now owns 21,753 shares of the company’s stock valued at $1,209,000 after buying an additional 3,229 shares during the last quarter. Wells Fargo & Company MN raised its stake in AZZ by 333.7% in the fourth quarter. Wells Fargo & Company MN now owns 26,882 shares of the company’s stock valued at $1,494,000 after buying an additional 20,683 shares during the last quarter. Nationwide Fund Advisors raised its stake in AZZ by 0.4% in the fourth quarter. Nationwide Fund Advisors now owns 30,487 shares of the company’s stock valued at $1,694,000 after buying an additional 133 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in AZZ by 6.9% in the fourth quarter. Rhumbline Advisers now owns 37,309 shares of the company’s stock valued at $2,073,000 after buying an additional 2,405 shares during 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.
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