AZZ Inc. (NYSE:AZZ) insider Thomas E. Ferguson purchased 7,500 shares of the stock in a transaction on Monday, October 10th. The stock was acquired 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 owns 29,276 shares of the company’s stock, valued at approximately $1,617,206.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
AZZ Inc. (NYSE:AZZ) opened at 54.67 on Friday. AZZ Inc. has a 12 month low of $47.04 and a 12 month high of $67.98. The firm has a 50 day moving average of $63.28 and a 200-day moving average of $60.27. The firm has a market cap of $1.42 billion, a P/E ratio of 20.18 and a beta of 1.34.
AZZ (NYSE:AZZ) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.17. AZZ had a return on equity of 15.84% and a net margin of 7.88%. The company had revenue of $195 million for the quarter, compared to analyst estimates of $225.43 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. AZZ’s revenue was down 9.0% compared to the same quarter last year. On average, equities research analysts forecast that AZZ Inc. will post $3.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be paid 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 currently 22.06%.
A number of large investors have recently made changes to their positions in AZZ. Advisors Asset Management Inc. raised its stake in shares of AZZ by 12.7% in the second quarter. Advisors Asset Management Inc. now owns 1,737 shares of the company’s stock valued at $104,000 after buying an additional 196 shares in the last quarter. BlackRock Inc. raised its stake 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 in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of AZZ during the second quarter valued at approximately $181,000. PineBridge Investments L.P. raised its stake in shares of AZZ by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,288 shares of the company’s stock valued at $197,000 after buying an additional 131 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake 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 valued at $206,000 after buying an additional 890 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.
AZZ has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of AZZ from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. 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.
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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