AZZ Inc. (NYSE:AZZ) VP Robert Joseph Steines acquired 1,000 shares of the stock in a transaction on Thursday, October 13th. The stock was bought at an average price of $54.54 per share, for a total transaction of $54,540.00. Following the transaction, the vice president now owns 2,625 shares in the company, valued at approximately $143,167.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.
AZZ Inc. (NYSE:AZZ) opened at 54.60 on Monday. The firm has a 50-day moving average price of $62.92 and a 200-day moving average price of $60.26. AZZ Inc. has a one year low of $47.04 and a one year high of $67.98. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 20.16 and a beta of 1.34.
AZZ (NYSE:AZZ) last released its quarterly earnings results on Wednesday, October 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate 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 return on equity of 15.84% and a net margin of 7.88%. The company’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period last year, the firm earned $0.67 EPS. On average, equities analysts predict that AZZ Inc. will post $3.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 18th will be given a dividend of $0.17 per share. This is a positive change from AZZ’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, October 14th. This represents a $0.68 annualized dividend and a yield of 1.25%. AZZ’s payout ratio is 25.00%.
A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded AZZ from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Thursday, July 7th. DA Davidson reiterated a “hold” rating and set a $55.00 target price on shares of AZZ in a research report on Wednesday, July 6th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in AZZ by 4.1% in the second quarter. Vanguard Group Inc. now owns 2,007,890 shares of the company’s stock valued at $120,434,000 after buying an additional 78,992 shares during the period. BlackRock Fund Advisors raised its position in AZZ by 2.8% in the second quarter. BlackRock Fund Advisors now owns 1,635,714 shares of the company’s stock valued at $98,110,000 after buying an additional 44,844 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in AZZ by 4.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 667,079 shares of the company’s stock valued at $40,011,000 after buying an additional 30,471 shares during the period. State Street Corp raised its position in 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. Finally, Victory Capital Management Inc. raised its position in AZZ by 0.3% in the second quarter. Victory Capital Management Inc. now owns 511,809 shares of the company’s stock valued at $30,699,000 after buying an additional 1,363 shares during the period. 83.80% of the stock is currently owned by institutional investors.
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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