AZZ Inc. (AZZ) Sees Strong Trading Volume
AZZ Inc. (NYSE:AZZ) shares saw strong trading volume on Friday . 108,261 shares were traded during trading, an increase of 6% from the previous session’s volume of 101,921 shares.The stock last traded at $67.45 and had previously closed at $66.52.
A number of analysts have commented on the company. Zacks Investment Research cut AZZ from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. DA Davidson reaffirmed a “hold” rating and set a $55.00 price target 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 company presently has an average rating of “Hold” and an average target price of $60.00.
The firm’s 50-day moving average price is $62.71 and its 200-day moving average price is $57.31. The company has a market capitalization of $1.75 billion and a price-to-earnings ratio of 22.49.
AZZ (NYSE:AZZ) last posted its quarterly earnings data on Tuesday, July 5th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by $0.03. During the same quarter last year, the company earned $0.77 EPS. The firm earned $242.70 million during the quarter. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that AZZ Inc. will post $3.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 18th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Thursday, July 14th.
In other AZZ news, Director Wallace P. Eisman bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were purchased at an average price of $62.27 per share, with a total value 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 approximately $288,995.07. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy E. Pendley sold 1,200 shares of the stock in a transaction on Tuesday, July 19th. The shares were 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 approximately $1,921,379.60. The disclosure for this sale can be found here.
Other institutional investors have bought and sold shares of the company. Dimensional Fund Advisors LP raised its position 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 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. Finally, California Public Employees Retirement System raised its position in AZZ by 10.3% in the fourth quarter. California Public Employees Retirement System now owns 74,800 shares of the company’s stock valued at $4,157,000 after buying an additional 7,000 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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