Insider Buying: AZZ Inc. (AZZ) Insider Purchases 7,500 Shares of Stock
AZZ Inc. (NYSE:AZZ) insider Thomas E. Ferguson purchased 7,500 shares of AZZ stock in a transaction that occurred on Monday, October 10th. The shares were acquired at an average price of $55.24 per share, for a total transaction of $414,300.00. Following the acquisition, the insider now owns 29,276 shares in the company, valued at $1,617,206.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
AZZ Inc. (NYSE:AZZ) traded down 2.18% on Tuesday, hitting $54.25. The company’s stock had a trading volume of 194,462 shares. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 20.03 and a beta of 1.34. The firm has a 50 day moving average of $64.31 and a 200 day moving average of $60.39. AZZ Inc. has a 12 month low of $47.04 and a 12 month high of $67.98.
AZZ (NYSE:AZZ) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.17. AZZ had a net margin of 7.88% and a return on equity of 15.84%. The business earned $195 million during the quarter, compared to the consensus estimate of $225.43 million. During the same period in the previous year, the business posted $0.67 EPS. The firm’s revenue was down 9.0% on a year-over-year basis. Equities research analysts forecast that AZZ Inc. will post $3.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be issued a $0.17 dividend. This is an increase from AZZ’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, October 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.25%. AZZ’s dividend payout ratio (DPR) is presently 22.06%.
A number of research analysts recently issued reports on AZZ shares. 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 Thursday, July 7th. DA Davidson reiterated a “hold” rating and set a $55.00 target price on shares of AZZ in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. AZZ presently has an average rating of “Hold” and a consensus target price of $60.00.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System increased its position in shares of AZZ by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,500 shares of the company’s stock worth $690,000 after buying an additional 100 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of AZZ by 0.6% in the second quarter. JPMorgan Chase & Co. now owns 16,826 shares of the company’s stock worth $1,009,000 after buying an additional 100 shares during the last quarter. PineBridge Investments L.P. increased its position in shares of AZZ by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,288 shares of the company’s stock worth $197,000 after buying an additional 131 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of AZZ by 12.7% in the second quarter. Advisors Asset Management Inc. now owns 1,737 shares of the company’s stock worth $104,000 after buying an additional 196 shares during the last quarter. Finally, United Services Automobile Association increased its stake 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 valued at $431,000 after buying an additional 200 shares during the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.
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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