AZZ Inc. (AZZ) Hits New 1-Year High at $65.75
AZZ Inc. (NYSE:AZZ)’s share price hit a new 52-week high on Monday . The company traded as high as $65.75 and last traded at $65.46, with a volume of 36,387 shares traded. The stock had previously closed at $64.54.
A number of brokerages recently weighed in on AZZ. Zacks Investment Research cut shares of AZZ from a “hold” rating to a “sell” rating in a research report on Monday, April 25th. DA Davidson reaffirmed a “hold” rating and set a $55.00 price objective on shares of AZZ in a research report on Wednesday, July 6th. Five equities research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average price target of $60.00.
The company has a 50-day moving average price of $61.98 and a 200-day moving average price of $57.06. The company has a market capitalization of $1.69 billion and a PE ratio of 21.77.
AZZ (NYSE:AZZ) last issued its earnings results on Tuesday, July 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by $0.03. The company earned $242.70 million during the quarter. During the same period in the previous year, the company posted $0.77 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts predict that AZZ Inc. will post $3.31 EPS for the current year.
The company 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Thursday, July 14th.
In related news, SVP Timothy E. Pendley sold 1,200 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 30,980 shares in the company, valued at approximately $1,921,379.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Wallace P. Eisman bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The stock was purchased at an average price of $62.27 per share, for a total transaction of $62,270.00. Following the completion of the acquisition, the director now owns 4,641 shares in the company, valued at $288,995.07. The disclosure for this purchase can be found here.
Several institutional investors have recently modified their holdings of AZZ. Dimensional Fund Advisors LP boosted 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 worth $61,231,000 after buying an additional 46,090 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of AZZ by 10.3% in the fourth quarter. California Public Employees Retirement System now owns 74,800 shares of the company’s stock worth $4,157,000 after buying an additional 7,000 shares in the last quarter. US Bancorp DE boosted 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 worth $1,209,000 after buying an additional 3,229 shares in the last quarter. Finally, Argent Capital Management LLC boosted its position in shares of AZZ by 0.5% in the fourth quarter. Argent Capital Management LLC now owns 42,875 shares of the company’s stock worth $2,383,000 after buying an additional 200 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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