AZZ Inc. (AZZ) VP Robert Joseph Steines Buys 1,000 Shares
AZZ Inc. (NYSE:AZZ) VP Robert Joseph Steines purchased 1,000 shares of AZZ stock in a transaction that occurred on Thursday, October 13th. The stock was acquired at an average price of $54.54 per share, for a total transaction of $54,540.00. Following the transaction, the vice president now directly owns 2,625 shares of the company’s stock, valued at approximately $143,167.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
AZZ Inc. (NYSE:AZZ) opened at 54.60 on Monday. AZZ Inc. has a 52-week low of $47.04 and a 52-week high of $67.98. The company has a market cap of $1.42 billion, a PE ratio of 20.16 and a beta of 1.34. The firm’s 50-day moving average is $62.92 and its 200-day moving average is $60.26.
AZZ (NYSE:AZZ) last released its quarterly earnings data on Wednesday, October 5th. The company reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.17. AZZ had a return on equity of 15.84% and a net margin of 7.88%. The company earned $195 million during the quarter, compared to analysts’ expectations of $225.43 million. During the same quarter in the prior year, the company posted $0.67 EPS. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities research analysts anticipate that AZZ Inc. will post $3.31 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 18th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Friday, October 14th. This is a positive change from AZZ’s previous quarterly dividend of $0.15. AZZ’s dividend payout ratio is currently 25.00%.
A number of large investors have recently added to or reduced their stakes in AZZ. Advisors Asset Management Inc. raised its stake in AZZ by 12.7% in the second quarter. Advisors Asset Management Inc. now owns 1,737 shares of the company’s stock valued at $104,000 after buying an additional 196 shares in the last quarter. BlackRock Inc. raised its stake in AZZ by 131.3% in the first quarter. BlackRock Inc. now owns 1,876 shares of the company’s stock valued at $106,000 after buying an additional 1,065 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in AZZ during the second quarter valued at approximately $181,000. PineBridge Investments L.P. raised its stake in AZZ by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,288 shares of the company’s stock valued at $197,000 after buying an additional 131 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in AZZ by 35.0% in the second quarter. Cubist Systematic Strategies LLC now owns 3,434 shares of the company’s stock valued at $206,000 after buying an additional 890 shares in the last quarter. Institutional investors and hedge funds own 83.80% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of AZZ from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Thursday, July 7th. DA Davidson restated a “hold” rating and issued a $55.00 price target on shares of AZZ in a research report on Wednesday, July 6th.
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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