AZZ Inc. (AZZ) Sets New 1-Year High at $61.45
AZZ Inc. (NYSE:AZZ) reached a new 52-week high on Monday . The company traded as high as $61.45 and last traded at $61.00, with a volume of 79,383 shares changing hands. The stock had previously closed at $60.12.
AZZ has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of AZZ from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. 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. Finally, Stifel Nicolaus initiated coverage on shares of AZZ in a research note on Monday, March 28th. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average target price of $60.00.
The company has a market capitalization of $1.58 billion and a PE ratio of 20.31. The firm has a 50-day moving average of $59.14 and a 200-day moving average of $54.96.
AZZ (NYSE:AZZ) last released its quarterly earnings results on Tuesday, July 5th. The company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by $0.03. During the same period in the previous year, the company posted $0.77 EPS. The business had revenue of $242.70 million for the quarter. The business’s revenue was up 6.0% compared to the same quarter last year. On average, equities analysts expect that AZZ Inc. will post $3.30 earnings per share for the current fiscal year.
The firm 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 dividend of $0.15 per share. The ex-dividend date is Thursday, July 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.98%.
In other AZZ news, Director H Kirk Downey sold 3,750 shares of the stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $54.58, for a total transaction of $204,675.00. Following the transaction, the director now owns 15,621 shares in the company, valued at approximately $852,594.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Other hedge funds and institutional investors have made changes to their positions in the company. Morgan Stanley raised its position in shares of AZZ by 96.0% in the fourth quarter. Morgan Stanley now owns 39,601 shares of the company’s stock worth $2,201,000 after buying an additional 19,400 shares during the last quarter. Philadelphia Trust Co. raised its position in shares of 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. Wells Fargo & Company MN raised its position in shares of AZZ by 333.7% in the fourth quarter. Wells Fargo & Company MN now owns 26,882 shares of the company’s stock worth $1,494,000 after buying an additional 20,683 shares during the last quarter. California Public Employees Retirement System raised 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 during the last quarter. Finally, Mutual of America Capital Management LLC raised its position in shares of 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.
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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