AZZ Inc. (AZZ) Reaches New 12-Month Low at $47.55
AZZ Inc. (NYSE:AZZ) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $47.55 and last traded at $47.55, with a volume of 88,012 shares. The stock had previously closed at $49.30.
AZZ has been the topic of several recent research reports. TheStreet lowered AZZ from a “b” rating to a “c+” rating in a research report on Friday, July 7th. Stifel Nicolaus reduced their price target on AZZ from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Friday, July 7th. Zacks Investment Research upgraded AZZ from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, BidaskClub lowered AZZ from a “hold” rating to a “sell” rating in a research report on Friday, July 28th.
The stock has a 50-day moving average of $51.15 and a 200-day moving average of $55.97. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 23.41 and a beta of 1.57.
AZZ (NYSE:AZZ) last posted its quarterly earnings data on Thursday, July 6th. The industrial products company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.19. The company had revenue of $208.60 million during the quarter, compared to analyst estimates of $225.08 million. AZZ had a net margin of 6.44% and a return on equity of 10.98%. The business’s revenue for the quarter was down 14.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 earnings per share. Equities research analysts anticipate that AZZ Inc. will post $2.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 18th were issued a $0.17 dividend. The ex-dividend date was Friday, July 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.43%. AZZ’s payout ratio is 33.50%.
In other news, CFO Paul Wesley Fehlman purchased 1,500 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were acquired at an average price of $49.31 per share, with a total value of $73,965.00. Following the completion of the transaction, the chief financial officer now owns 9,287 shares of the company’s stock, valued at approximately $457,941.97. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas E. Ferguson purchased 5,000 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were purchased at an average cost of $49.59 per share, for a total transaction of $247,950.00. Following the transaction, the insider now directly owns 49,037 shares of the company’s stock, valued at approximately $2,431,744.83. The disclosure for this purchase can be found here. Corporate insiders own 0.01% of the company’s stock.
A number of hedge funds have recently modified their holdings of AZZ. Dynamic Technology Lab Private Ltd purchased a new stake in shares of AZZ during the second quarter worth approximately $331,000. Piedmont Investment Advisors LLC purchased a new stake in shares of AZZ during the second quarter worth approximately $314,000. Dean Capital Management purchased a new stake in shares of AZZ during the second quarter worth approximately $2,656,000. State Street Corp boosted its stake in shares of AZZ by 4.3% in the second quarter. State Street Corp now owns 628,974 shares of the industrial products company’s stock worth $35,092,000 after buying an additional 25,832 shares during the period. Finally, Gotham Asset Management LLC purchased a new stake in shares of AZZ during the second quarter worth approximately $492,000. 86.91% of the stock is currently owned by institutional investors and hedge funds.
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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