According to Zacks, “AZZ Incorporated is an electrical equipment and components manufacturer serving the global growth markets of power generation, transmission and distribution, and industrial markets as well as a provider of hot dip galvanizing services to the steel fabrication market nationwide. “
Separately, DA Davidson reissued a hold rating and set a $55.00 price objective on shares of AZZ in a research report on Wednesday, July 6th.
Shares of AZZ (NYSE:AZZ) opened at 54.70 on Friday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 20.19 and a beta of 1.34. AZZ has a 1-year low of $47.04 and a 1-year high of $67.98. The stock has a 50 day moving average price of $63.62 and a 200-day moving average price of $60.31.
AZZ (NYSE:AZZ) last released its quarterly earnings data on Wednesday, October 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by $0.17. The firm had revenue of $195 million for the quarter, compared to analyst estimates of $225.43 million. AZZ had a net margin of 7.88% and a return on equity of 15.84%. AZZ’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.67 EPS. On average, equities research analysts expect that AZZ will post $3.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 18th will be issued a dividend of $0.17 per share. This is a positive change from AZZ’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, October 14th. AZZ’s dividend payout ratio (DPR) is 22.06%.
In related news, insider Thomas E. Ferguson bought 7,500 shares of the business’s stock in a transaction on Monday, October 10th. The shares were bought at an average cost of $55.24 per share, for a total transaction of $414,300.00. Following the completion of the acquisition, the insider now directly owns 29,276 shares in the company, valued at $1,617,206.24. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wallace P. Eisman bought 1,000 shares of the business’s stock in a transaction on Friday, July 15th. The shares were bought at an average price of $62.27 per share, for a total transaction of $62,270.00. Following the completion of the acquisition, the director now owns 4,641 shares of the company’s stock, valued at $288,995.07. The disclosure for this purchase can be found here. Company insiders own 0.01% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its position in AZZ by 99.8% in the second quarter. BNP Paribas Arbitrage SA now owns 8,826 shares of the company’s stock valued at $529,000 after buying an additional 4,409 shares during the period. Origin Asset Management LLP raised its position in AZZ by 13.2% in the first quarter. Origin Asset Management LLP now owns 129,075 shares of the company’s stock valued at $7,306,000 after buying an additional 15,081 shares during the period. Panagora Asset Management Inc. raised its position in AZZ by 1.7% in the first quarter. Panagora Asset Management Inc. now owns 132,151 shares of the company’s stock valued at $7,480,000 after buying an additional 2,205 shares during the period. Renaissance Technologies LLC bought a new position in AZZ during the first quarter valued at $651,000. Finally, Kennedy Capital Management Inc. raised its position in AZZ by 0.9% in the first quarter. Kennedy Capital Management Inc. now owns 72,073 shares of the company’s stock valued at $4,079,000 after buying an additional 671 shares during the period. Institutional investors own 84.08% of the company’s stock.
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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