AZZ Inc. (AZZ) Trading 2.9% Higher
AZZ Inc. (NYSE:AZZ) shares traded up 2.9% during trading on Thursday . The company traded as high as $62.90 and last traded at $62.81, with a volume of 303,139 shares traded. The stock had previously closed at $61.03.
A number of research analysts recently commented on the company. Zacks Investment Research downgraded AZZ from a “hold” rating to a “sell” rating in a research note on Monday, April 25th. DA Davidson restated a “hold” rating and set a $55.00 price objective on shares of AZZ in a research note on Wednesday, July 6th. Finally, Stifel Nicolaus assumed coverage on AZZ in a research note on Monday, March 28th. They set a “hold” rating for the company. Five research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $60.00.
The firm has a market capitalization of $1.61 billion and a P/E ratio of 20.76. The stock has a 50-day moving average of $59.50 and a 200-day moving average of $55.11.
AZZ (NYSE:AZZ) last released its earnings results on Tuesday, July 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.03. The business earned $242.70 million during the quarter. AZZ’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $0.77 EPS. Equities analysts expect that AZZ Inc. will post $3.30 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Monday, July 18th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $0.60 annualized dividend and a dividend yield of 0.96%.
In related news, Director H Kirk Downey sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, April 29th. The stock was 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 owns 15,621 shares in the company, valued at approximately $852,594.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Wallace P. Eisman bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The shares were bought at an average price of $62.27 per share, with a total value of $62,270.00. Following the transaction, the director now directly owns 4,641 shares in the company, valued at $288,995.07. The disclosure for this purchase can be found here.
Several institutional investors recently bought and sold shares of the company. GSA Capital Partners LLP increased 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 valued at $1,157,000 after buying an additional 8,283 shares during the period. US Bancorp DE increased its position 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 period. Nationwide Fund Advisors increased its position 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 period. Rhumbline Advisers increased its position 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 period. Finally, Morgan Stanley increased its position in AZZ by 96.0% in the fourth quarter. Morgan Stanley now owns 39,601 shares of the company’s stock valued at $2,201,000 after buying an additional 19,400 shares during the period.
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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