AZZ Inc. (AZZ) Reaches New 52-Week High at $63.88
Shares of AZZ Inc. (NYSE:AZZ) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $63.88 and last traded at $63.08, with a volume of 86,338 shares. The stock had previously closed at $63.05.
AZZ has been the subject of several recent analyst reports. Zacks Investment Research upgraded AZZ from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Thursday, July 7th. DA Davidson reiterated a “hold” rating and set a $55.00 price target on shares of AZZ in a research note on Wednesday, July 6th. Five equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $60.00.
The firm has a market capitalization of $1.64 billion and a price-to-earnings ratio of 21.02. The firm has a 50-day moving average of $60.35 and a 200-day moving average of $55.92.
AZZ (NYSE:AZZ) last issued its quarterly earnings data on Tuesday, July 5th. The company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by $0.03. The company earned $242.70 million during the quarter. AZZ’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 EPS. Equities analysts forecast that AZZ Inc. will post $3.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 18th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, July 14th.
In related news, SVP Timothy E. Pendley sold 1,200 shares of the firm’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $62.02, for a total transaction of $74,424.00. Following the sale, the senior vice president now owns 30,980 shares of the company’s stock, valued at approximately $1,921,379.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wallace P. Eisman acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were acquired at an average cost of $62.27 per share, for a total transaction of $62,270.00. Following the purchase, the director now directly owns 4,641 shares in the company, valued at approximately $288,995.07. The disclosure for this purchase can be found here.
Other hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in AZZ by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,101,838 shares of the company’s stock valued at $61,231,000 after buying an additional 46,090 shares in the last quarter. US Bancorp DE increased 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 in the last quarter. Victory Capital Management Inc. increased its stake in AZZ by 5.4% in the fourth quarter. Victory Capital Management Inc. now owns 602,310 shares of the company’s stock valued at $33,470,000 after buying an additional 30,590 shares in the last quarter. Principal Financial Group Inc. increased its stake in AZZ by 4.5% in the fourth quarter. Principal Financial Group Inc. now owns 175,204 shares of the company’s stock valued at $9,736,000 after buying an additional 7,518 shares in the last quarter. Finally, GSA Capital Partners LLP increased 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 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.
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