AZZ Inc. (AZZ) Sees Unusually-High Trading Volume
AZZ Inc. (NYSE:AZZ) saw strong trading volume on Tuesday . 142,969 shares changed hands during trading, an increase of 5% from the previous session’s volume of 136,668 shares.The stock last traded at $58.12 and had previously closed at $59.97.
A number of research analysts have commented on the stock. DA Davidson reissued a “hold” rating and set a $55.00 target price on shares of AZZ in a research report on Wednesday. Zacks Investment Research raised shares of AZZ from a “sell” rating to a “hold” rating in a research report on Monday, May 30th. Finally, Stifel Nicolaus assumed coverage on shares of AZZ in a research report on Monday, March 28th. They issued a “hold” rating on the stock. Five equities 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 $58.67.
The stock has a 50-day moving average price of $58.64 and a 200 day moving average price of $54.83. The stock has a market cap of $1.55 billion and a PE ratio of 20.23.
AZZ (NYSE:AZZ) last posted its earnings results on Tuesday, July 5th. The company reported $0.81 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.03. The business had revenue of $242.70 million for the quarter. AZZ’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. On average, analysts forecast that AZZ Inc. will post $3.30 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Monday, July 18th will be given a $0.15 dividend. The ex-dividend date is Thursday, July 14th. This represents a $0.60 dividend on an annualized basis and a yield of 1.00%.
In other AZZ news, Director H Kirk Downey sold 3,750 shares of the company’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $54.58, for a total value of $204,675.00. Following the transaction, the director now owns 15,621 shares of the company’s stock, valued at $852,594.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Other hedge funds and institutional investors recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted 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 worth $61,231,000 after buying an additional 46,090 shares during the last quarter. Victory Capital Management Inc. boosted its position in AZZ by 5.4% in the fourth quarter. Victory Capital Management Inc. now owns 602,310 shares of the company’s stock worth $33,470,000 after buying an additional 30,590 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in AZZ by 5.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 240,001 shares of the company’s stock worth $13,337,000 after buying an additional 12,285 shares during the last quarter. Principal Financial Group Inc. boosted its position in AZZ by 4.5% in the fourth quarter. Principal Financial Group Inc. now owns 175,204 shares of the company’s stock worth $9,736,000 after buying an additional 7,518 shares during the last quarter. Finally, Philadelphia Trust Co. boosted its position in AZZ by 10.9% in the fourth quarter. Philadelphia Trust Co. now owns 88,030 shares of the company’s stock worth $5,212,000 after buying an additional 8,650 shares during 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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