AZZ Inc. (AZZ) Sets New 12-Month High at $63.88
AZZ Inc. (NYSE:AZZ)’s share price reached a new 52-week high on Tuesday . The company traded as high as $63.88 and last traded at $63.08, with a volume of 86,338 shares changing hands. The stock had previously closed at $63.05.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of AZZ from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. DA Davidson restated a “hold” rating and issued a $55.00 target price on shares of AZZ in a report on Wednesday, July 6th. Five research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average price target of $60.00.
The company has a market capitalization of $1.63 billion and a P/E ratio of 20.93. The firm’s 50-day moving average is $60.55 and its 200 day moving average is $56.07.
AZZ (NYSE:AZZ) last posted its quarterly earnings results on Tuesday, July 5th. The company reported $0.81 earnings per share for the quarter, missing the 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 period in the prior year, the company posted $0.77 EPS. On average, equities analysts anticipate that AZZ Inc. will post $3.31 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 18th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, July 14th.
In other news, SVP Timothy E. Pendley sold 1,200 shares of the business’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $62.02, for a total transaction of $74,424.00. Following the sale, the senior vice president now directly owns 30,980 shares of the company’s stock, valued at $1,921,379.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Wallace P. Eisman acquired 1,000 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were bought at an average cost of $62.27 per share, for a total transaction of $62,270.00. Following the completion of the acquisition, the director now directly owns 4,641 shares of the company’s stock, valued at $288,995.07. The disclosure for this purchase can be found here.
Several large investors recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of AZZ by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,101,838 shares of the company’s stock worth $61,231,000 after buying an additional 46,090 shares during the period. US Bancorp DE raised 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. Victory Capital Management Inc. raised its position 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 during the period. Principal Financial Group Inc. raised its position 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 during the period. Finally, 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 worth $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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