AZZ Inc. (AZZ) Reaches New 12-Month High at $64.19
Shares of AZZ Inc. (NYSE:AZZ) reached a new 52-week high on Monday . The company traded as high as $64.19 and last traded at $63.86, with a volume of 15,193 shares traded. The stock had previously closed at $63.93.
AZZ has been the topic of several research analyst reports. Zacks Investment Research upgraded AZZ from a “sell” rating to a “hold” rating in a research note on Monday, May 30th. 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. Five analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average target price of $60.00.
The stock has a 50-day moving average of $60.76 and a 200 day moving average of $56.17. The stock has a market cap of $1.66 billion and a PE ratio of 21.35.
AZZ (NYSE:AZZ) last posted its earnings results on Tuesday, July 5th. The company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by $0.03. The company earned $242.70 million during the quarter. During the same period last year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts predict that AZZ Inc. will post $3.31 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 18th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $0.60 annualized dividend and a yield of 0.94%.
In other AZZ news, Director Wallace P. Eisman purchased 1,000 shares of the company’s stock in a transaction on Friday, July 15th. The shares were bought at an average cost 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 approximately $288,995.07. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Timothy E. Pendley sold 1,200 shares of AZZ stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $62.02, for a total value of $74,424.00. Following the completion of the transaction, the senior vice president now directly owns 30,980 shares in the company, valued at $1,921,379.60. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have modified their holdings of the company. Dimensional Fund Advisors LP increased its position 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 valued at $61,231,000 after buying an additional 46,090 shares in the last quarter. US Bancorp DE increased its position in shares of 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 position in shares of 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 position in shares of 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 position in shares of 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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