AZZ Inc. (NYSE:AZZ) Downgraded by BidaskClub
BidaskClub cut shares of AZZ Inc. (NYSE:AZZ) from a hold rating to a sell rating in a research note issued to investors on Friday.
Several other equities analysts have also issued reports on the company. TheStreet lowered AZZ from a b rating to a c+ rating in a research note on Friday, July 7th. Zacks Investment Research lowered AZZ from a hold rating to a sell rating in a research note on Monday, July 10th. Finally, Stifel Nicolaus lowered their price target on AZZ from $58.00 to $56.00 and set a hold rating on the stock in a research note on Friday, July 7th.
AZZ (NYSE AZZ) opened at 50.70 on Friday. The company has a market cap of $1.32 billion, a P/E ratio of 24.96 and a beta of 1.59. The firm’s 50-day moving average price is $53.27 and its 200-day moving average price is $56.73. AZZ has a 12-month low of $47.63 and a 12-month high of $67.98.
AZZ (NYSE:AZZ) last issued its quarterly earnings results on Thursday, July 6th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by $0.19. AZZ had a net margin of 6.44% and a return on equity of 10.98%. The firm had revenue of $208.60 million for the quarter, compared to the consensus estimate of $225.08 million. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The company’s revenue was down 14.1% on a year-over-year basis. Analysts expect that AZZ will post $2.62 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Tuesday, July 18th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, July 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.34%. AZZ’s dividend payout ratio is currently 33.50%.
In related news, CFO Paul Wesley Fehlman acquired 1,500 shares of the stock in a transaction dated Tuesday, July 11th. The shares were bought at an average cost of $49.31 per share, for a total transaction of $73,965.00. Following the purchase, the chief financial officer now owns 9,287 shares in the company, valued at approximately $457,941.97. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas E. Ferguson acquired 5,000 shares of the stock in a transaction dated Tuesday, July 11th. The stock was bought at an average price of $49.59 per share, for a total transaction of $247,950.00. Following the completion of the purchase, the insider now owns 49,037 shares in the company, 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.
Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in AZZ by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 382,285 shares of the industrial products company’s stock valued at $22,746,000 after buying an additional 5,096 shares in the last quarter. Bbva Compass Bancshares Inc. raised its stake in AZZ by 1.7% in the first quarter. Bbva Compass Bancshares Inc. now owns 4,845 shares of the industrial products company’s stock valued at $288,000 after buying an additional 80 shares in the last quarter. First Trust Advisors LP raised its stake in AZZ by 33.4% in the first quarter. First Trust Advisors LP now owns 115,195 shares of the industrial products company’s stock valued at $6,854,000 after buying an additional 28,823 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in AZZ by 7.2% in the first quarter. Great West Life Assurance Co. Can now owns 36,702 shares of the industrial products company’s stock valued at $2,181,000 after buying an additional 2,451 shares in the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in AZZ by 10.2% in the first quarter. Glen Harbor Capital Management LLC now owns 1,836 shares of the industrial products company’s stock valued at $109,000 after buying an additional 170 shares in the last quarter. Institutional investors own 86.70% 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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