Advisors Asset Management Inc. increased its position in AZZ Inc. (NYSE:AZZ) by 12.7% during the second quarter, Holdings Channel reports. The firm owned 1,737 shares of the company’s stock after buying an additional 196 shares during the period. Advisors Asset Management Inc.’s holdings in AZZ were worth $104,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in AZZ. Virginia Retirement System acquired a new position in shares of AZZ during the first quarter valued at approximately $1,075,000. BlackRock Inc. raised its position in shares of AZZ by 131.3% in the first quarter. BlackRock Inc. now owns 1,876 shares of the company’s stock valued at $106,000 after buying an additional 1,065 shares during the period. BlackRock Group LTD raised its position in shares of AZZ by 8.3% in the first quarter. BlackRock Group LTD now owns 36,090 shares of the company’s stock valued at $2,043,000 after buying an additional 2,763 shares during the period. Menta Capital LLC acquired a new position in shares of AZZ during the first quarter valued at approximately $691,000. Finally, State Street Corp raised its position in shares of AZZ by 1.5% in the first quarter. State Street Corp now owns 512,865 shares of the company’s stock valued at $29,029,000 after buying an additional 7,440 shares during the period. 84.08% of the stock is currently owned by institutional investors and hedge funds.
AZZ Inc. (NYSE:AZZ) traded down 4.27% during midday trading on Friday, hitting $55.82. The company had a trading volume of 438,372 shares. AZZ Inc. has a 52-week low of $47.04 and a 52-week high of $67.98. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 20.61 and a beta of 1.34. The stock has a 50 day moving average of $64.66 and a 200 day moving average of $60.34.
AZZ (NYSE:AZZ) last released its quarterly earnings data on Wednesday, October 5th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.72 by $0.17. AZZ had a net margin of 7.88% and a return on equity of 15.84%. The firm earned $195 million during the quarter, compared to analysts’ expectations of $225.43 million. During the same period in the previous year, the business earned $0.67 earnings per share. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, analysts anticipate that AZZ Inc. will post $3.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be paid a $0.17 dividend. This is an increase from AZZ’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, October 14th. AZZ’s dividend payout ratio (DPR) is presently 22.06%.
Several equities analysts have recently commented on AZZ shares. DA Davidson reaffirmed a “hold” rating and issued a $55.00 price target on shares of AZZ in a research note on Wednesday, July 6th. Zacks Investment Research raised AZZ from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $60.00.
In other AZZ news, SVP Timothy E. Pendley sold 1,200 shares of the firm’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $62.02, for a total transaction of $74,424.00. Following the completion of the transaction, the senior vice president now owns 30,980 shares of the company’s stock, valued at $1,921,379.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wallace P. Eisman purchased 1,000 shares of the company’s stock in a transaction on Friday, July 15th. The shares were bought at an average cost of $62.27 per share, with a total value 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 disclosure for this purchase can be found here. 0.01% of the stock is owned by corporate insiders.
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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