AZZ Inc. (azz) Plans Dividend Increase – $0.17 Per Share
AZZ Inc. (NYSE:azz) declared a quarterly dividend on Friday, September 30th. Shareholders of record on Tuesday, October 18th will be given a dividend of 0.17 per share on Tuesday, November 1st. This represents a $0.68 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, October 14th. This is a boost from AZZ’s previous quarterly dividend of $0.15.
AZZ (NYSE:AZZ) opened at 65.27 on Monday. The firm has a market cap of $1.69 billion, a PE ratio of 21.76 and a beta of 1.34. AZZ has a 52-week low of $47.04 and a 52-week high of $67.98. The firm’s 50-day moving average price is $65.40 and its 200 day moving average price is $60.20.
In related news, Director Wallace P. Eisman purchased 1,000 shares of AZZ stock in a transaction dated Friday, July 15th. The shares were acquired at an average price of $62.27 per share, with a total value of $62,270.00. Following the completion of the transaction, the director now owns 4,641 shares of the company’s stock, valued at approximately $288,995.07. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Timothy E. Pendley sold 1,200 shares of the stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $62.02, for a total transaction of $74,424.00. Following the transaction, the senior vice president now directly owns 30,980 shares in the company, valued at approximately $1,921,379.60. The disclosure for this sale can be found here. Insiders own 0.01% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. TFS Capital LLC boosted its position in shares of AZZ by 7.6% in the second quarter. TFS Capital LLC now owns 28,169 shares of the company’s stock worth $1,690,000 after buying an additional 1,999 shares in the last quarter. United Services Automobile Association boosted its position in shares of AZZ by 2.9% in the second quarter. United Services Automobile Association now owns 7,190 shares of the company’s stock worth $431,000 after buying an additional 200 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of AZZ by 2.8% in the second quarter. Public Sector Pension Investment Board now owns 18,325 shares of the company’s stock worth $1,099,000 after buying an additional 500 shares in the last quarter. AXA boosted its position in shares of AZZ by 8.3% in the second quarter. AXA now owns 67,600 shares of the company’s stock worth $4,055,000 after buying an additional 5,200 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of AZZ by 6.5% in the second quarter. Alliancebernstein L.P. now owns 39,445 shares of the company’s stock worth $2,366,000 after buying an additional 2,400 shares in the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.
AZZ has been the subject of a number of analyst reports. Zacks Investment Research cut shares of AZZ from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. DA Davidson reaffirmed a “hold” rating and set a $55.00 price target on shares of AZZ in a research report on Wednesday, July 6th. Five analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $60.00.
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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