AZZ Inc. (NYSE:AZZ) released its quarterly earnings data on Wednesday. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.34. The business earned $195 million during the quarter, compared to analysts’ expectations of $214.20 million. AZZ had a return on equity of 16.95% and a net margin of 8.50%.
AZZ (NYSE:AZZ) opened at 65.11 on Wednesday. The stock has a market cap of $1.69 billion, a PE ratio of 21.70 and a beta of 1.34. AZZ has a 12 month low of $47.04 and a 12 month high of $67.98. The stock has a 50 day moving average price of $65.44 and a 200-day moving average price of $60.39.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, October 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.04%. This is a boost from AZZ’s previous quarterly dividend of $0.15. AZZ’s dividend payout ratio (DPR) is currently 19.93%.
In related news, Director Wallace P. Eisman acquired 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 transaction, the director now directly owns 4,641 shares of the company’s stock, valued at approximately $288,995.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Timothy E. Pendley sold 1,200 shares of the business’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $62.02, for a total value of $74,424.00. Following the transaction, 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. Corporate insiders own 0.01% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of AZZ by 17.6% in the second quarter. BlackRock Inc. now owns 2,206 shares of the company’s stock worth $132,000 after buying an additional 330 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of AZZ by 35.0% in the second quarter. Cubist Systematic Strategies LLC now owns 3,434 shares of the company’s stock worth $206,000 after buying an additional 890 shares during the period. United Services Automobile Association raised its position in shares of AZZ by 2.9% in the second quarter. United Services Automobile Association now owns 7,190 shares of the company’s stock worth $431,000 after buying an additional 200 shares during the period. Trexquant Investment LP raised its position in shares of AZZ by 15.9% in the second quarter. Trexquant Investment LP now owns 10,426 shares of the company’s stock worth $625,000 after buying an additional 1,428 shares during the period. Finally, BlackRock Advisors LLC raised its position in shares of AZZ by 3.6% in the second quarter. BlackRock Advisors LLC now owns 12,130 shares of the company’s stock worth $728,000 after buying an additional 423 shares during the period. Institutional investors own 84.08% of the company’s stock.
Several research firms have issued reports on AZZ. Zacks Investment Research upgraded AZZ from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Thursday, July 7th. DA Davidson reiterated a “hold” rating and issued a $55.00 price objective on shares of AZZ in a research report on Wednesday, July 6th. Five equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of $60.00.
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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