AZZ Inc. (AZZ) Sets New 52-Week High at $65.75
AZZ Inc. (NYSE:AZZ) hit a new 52-week high on Monday . The stock traded as high as $65.75 and last traded at $65.46, with a volume of 36,387 shares traded. The stock had previously closed at $64.54.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised AZZ from a “sell” rating to a “hold” rating in a research note on Monday, May 30th. DA Davidson reissued a “hold” rating and set a $55.00 price objective on shares of AZZ in a research note on Wednesday, July 6th. Five research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $60.00.
The company’s 50-day moving average price is $61.49 and its 200-day moving average price is $56.73. The firm has a market cap of $1.70 billion and a PE ratio of 21.81.
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. During the same quarter in the previous year, the firm posted $0.77 EPS. The firm earned $242.70 million during the quarter. AZZ’s revenue was up 6.0% compared to the same quarter last year. Equities analysts forecast that AZZ Inc. will post $3.31 EPS for the current year.
The firm also recently announced 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 0.92%. 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 dated Friday, July 15th. The shares were purchased at an average cost of $62.27 per share, for a total transaction of $62,270.00. Following the transaction, the director now directly owns 4,641 shares of the company’s stock, valued at $288,995.07. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Timothy E. Pendley sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $62.02, for a total value of $74,424.00. Following the sale, the senior vice president now owns 30,980 shares in the company, valued at $1,921,379.60. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently modified their holdings of the stock. Argent Capital Management LLC raised its position in shares of AZZ by 0.5% in the fourth quarter. Argent Capital Management LLC now owns 42,875 shares of the company’s stock worth $2,383,000 after buying an additional 200 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 in the last quarter. US Bancorp DE raised its position in shares of AZZ by 17.4% in the fourth quarter. US Bancorp DE now owns 21,753 shares of the company’s stock worth $1,209,000 after buying an additional 3,229 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of AZZ by 66.1% in the fourth quarter. GSA Capital Partners LLP now owns 20,818 shares of the company’s stock worth $1,157,000 after buying an additional 8,283 shares in the last quarter. Finally, 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 in 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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