AZZ Inc. (AZZ) Sees Unusually-High Trading Volume
Shares of AZZ Inc. (NYSE:AZZ) saw strong trading volume on Friday . 108,261 shares changed hands 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.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered AZZ from a “buy” rating to a “hold” rating in a report on Friday, July 8th. DA Davidson reaffirmed a “hold” rating and set 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 stock currently has an average rating of “Hold” and a consensus price target of $60.00.
The stock has a 50-day moving average price of $62.71 and a 200 day moving average price of $57.31. The firm has a market capitalization of $1.75 billion and a price-to-earnings ratio of 22.49.
AZZ (NYSE:AZZ) last issued its quarterly earnings results on Tuesday, July 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by $0.03. The firm earned $242.70 million during the quarter. During the same period in the prior year, the company earned $0.77 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts anticipate that AZZ Inc. will post $3.31 earnings per share 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 paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Thursday, July 14th.
In related news, Director Wallace P. Eisman bought 1,000 shares of AZZ stock in a transaction that occurred on Friday, July 15th. The stock was acquired at an average price of $62.27 per share, for a total transaction of $62,270.00. Following the completion of the purchase, the director now owns 4,641 shares in the company, valued at $288,995.07. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy E. Pendley sold 1,200 shares of the stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $62.02, for a total transaction of $74,424.00. Following the completion of the sale, the senior vice president now owns 30,980 shares of the company’s stock, valued at approximately $1,921,379.60. The disclosure for this sale can be found here.
An institutional investor recently raised its position in AZZ stock. Dimensional Fund Advisors LP increased its stake in shares of AZZ Inc. (NYSE:AZZ) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,101,838 shares of the company’s stock after buying an additional 46,090 shares during the period. Dimensional Fund Advisors LP owned 4.26% of AZZ worth $61,231,000 at the end of the most recent reporting 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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