AZZ Inc. (NYSE:AZZ) VP Robert Joseph Steines acquired 1,000 shares of the stock in a transaction that occurred on Thursday, October 13th. The stock was purchased at an average price of $54.54 per share, for a total transaction of $54,540.00. Following the completion of the transaction, the vice president now owns 2,625 shares in the company, valued at $143,167.50. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
AZZ Inc. (NYSE:AZZ) opened at 53.85 on Wednesday. The stock has a market cap of $1.40 billion, a PE ratio of 19.88 and a beta of 1.34. 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 price of $62.21 and a 200-day moving average price of $60.26.
AZZ (NYSE:AZZ) last issued its quarterly earnings data on Wednesday, October 5th. The company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.17. The company 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%. The business’s revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 EPS. Analysts forecast that AZZ Inc. will post $3.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders 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. The ex-dividend date is Friday, October 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.26%. AZZ’s dividend payout ratio is currently 25.00%.
A number of equities analysts recently weighed in on AZZ shares. Zacks Investment Research lowered 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.
Several hedge funds and other institutional investors have recently modified their holdings of AZZ. 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 worth $106,000 after buying an additional 1,065 shares in the last quarter. 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 worth $2,043,000 after buying an additional 2,763 shares in the last quarter. Menta Capital LLC bought a new position in shares of AZZ during the first quarter worth approximately $691,000. 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 worth $29,029,000 after buying an additional 7,440 shares in the last quarter. Finally, AXA raised its position in shares of AZZ by 35.4% in the first quarter. AXA now owns 62,400 shares of the company’s stock worth $3,532,000 after buying an additional 16,300 shares in the last quarter. 83.80% of the stock is currently owned by institutional investors and hedge funds.
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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