AZZ Inc. (NYSE:AZZ) Insider Acquires $247,950.00 in Stock
AZZ Inc. (NYSE:AZZ) insider Thomas E. Ferguson purchased 5,000 shares of the business’s stock in a transaction on Tuesday, July 11th. The stock was purchased at an average price of $49.59 per share, for a total transaction of $247,950.00. Following the acquisition, the insider now owns 49,037 shares of the company’s stock, valued at approximately $2,431,744.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
AZZ Inc. (NYSE:AZZ) opened at 51.25 on Monday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 25.23 and a beta of 1.59. AZZ Inc. has a 12-month low of $47.62 and a 12-month high of $67.98. The stock has a 50 day moving average price of $55.61 and a 200-day moving average price of $58.60.
AZZ (NYSE:AZZ) last released its quarterly earnings data 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. The business had revenue of $208.60 million during the quarter, compared to the consensus estimate of $225.08 million. AZZ had a net margin of 6.44% and a return on equity of 10.98%. The business’s revenue was down 14.1% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share. On average, analysts predict that AZZ Inc. will post $2.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Tuesday, July 18th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, July 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.33%. AZZ’s payout ratio is 33.50%.
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Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in shares of AZZ during the fourth quarter worth approximately $1,146,000. Comerica Bank raised its stake in shares of AZZ by 5.3% in the fourth quarter. Comerica Bank now owns 27,630 shares of the industrial products company’s stock worth $1,652,000 after buying an additional 1,387 shares during the last quarter. State Street Corp raised its stake in shares of AZZ by 6.3% in the fourth quarter. State Street Corp now owns 570,078 shares of the industrial products company’s stock worth $36,425,000 after buying an additional 33,960 shares during the last quarter. Norges Bank acquired a new stake in shares of AZZ during the fourth quarter worth about $22,503,000. Finally, Philadelphia Trust Co. raised its stake in shares of AZZ by 112.8% in the fourth quarter. Philadelphia Trust Co. now owns 118,343 shares of the industrial products company’s stock worth $7,562,000 after buying an additional 62,738 shares during the last quarter. 86.29% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on AZZ. Zacks Investment Research upgraded AZZ from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Tuesday, April 11th. Stifel Nicolaus cut their price target on AZZ from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Friday, July 7th. Finally, TheStreet lowered AZZ from a “b” rating to a “c+” rating in a report on Friday, July 7th.
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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