Thomas E. Ferguson Purchases 7,500 Shares of AZZ Inc. (AZZ) Stock
AZZ Inc. (NYSE:AZZ) insider Thomas E. Ferguson purchased 7,500 shares of the stock in a transaction dated Monday, October 10th. The stock was purchased at an average price of $55.24 per share, for a total transaction of $414,300.00. Following the completion of the acquisition, the insider now directly owns 29,276 shares in the company, valued at approximately $1,617,206.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of AZZ Inc. (NYSE:AZZ) opened at 54.70 on Thursday. The company has a 50-day moving average of $63.62 and a 200-day moving average of $60.31. The firm has a market capitalization of $1.42 billion, a PE ratio of 20.19 and a beta of 1.34. AZZ Inc. has a 1-year low of $47.04 and a 1-year high of $67.98.
AZZ (NYSE:AZZ) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.17. The business earned $195 million during the quarter, compared to analyst estimates of $225.43 million. AZZ had a net margin of 7.88% and a return on equity of 15.84%. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the company earned $0.67 earnings per share. Equities research analysts predict that AZZ Inc. will post $3.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.24%. This is an increase from AZZ’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, October 14th. AZZ’s dividend payout ratio is 22.06%.
A number of analysts recently commented on AZZ shares. Zacks Investment Research upgraded shares of AZZ from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Thursday, July 7th. DA Davidson reiterated a “hold” rating and issued a $55.00 target price on shares of AZZ in a research note on Wednesday, July 6th.
A number of institutional investors have recently made changes to their positions in AZZ. Mason Street Advisors LLC purchased a new stake in AZZ during the second quarter valued at $304,000. Aristotle Capital Boston LLC increased its stake in AZZ by 2.9% in the second quarter. Aristotle Capital Boston LLC now owns 69,388 shares of the company’s stock valued at $4,162,000 after buying an additional 1,953 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in AZZ by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 108,066 shares of the company’s stock valued at $6,482,000 after buying an additional 1,779 shares during the last quarter. Legal & General Group Plc increased its stake in AZZ by 14.0% in the second quarter. Legal & General Group Plc now owns 6,847 shares of the company’s stock valued at $403,000 after buying an additional 840 shares during the last quarter. Finally, Fiera Capital Corp purchased a new stake in AZZ during the second quarter valued at $14,738,000. 84.08% of the stock is owned by hedge funds and other institutional investors.
AZZ Company Profile
AZZ Inc 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 through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.
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