AZZ Inc. (AZZ) Director Venita Mccellon-Allen Buys 5,000 Shares
AZZ Inc. (NYSE:AZZ) Director Venita Mccellon-Allen bought 5,000 shares of the company’s stock in a transaction on Monday, October 17th. The stock was bought at an average cost of $53.91 per share, for a total transaction of $269,550.00. Following the completion of the acquisition, the director now directly owns 6,641 shares of the company’s stock, valued at approximately $358,016.31. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
AZZ Inc. (NYSE:AZZ) traded down 0.19% on Tuesday, hitting $53.85. The stock had a trading volume of 162,010 shares. The firm has a market cap of $1.40 billion, a PE ratio of 19.88 and a beta of 1.34. AZZ Inc. has a 52-week low of $47.04 and a 52-week high of $67.98. The company has a 50-day moving average price of $62.57 and a 200 day moving average price of $60.29.
AZZ (NYSE:AZZ) last issued its quarterly earnings results on Wednesday, October 5th. The company reported $0.55 earnings per share for the quarter, missing the 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 business earned $195 million during the quarter, compared to analysts’ expectations of $225.43 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. Equities 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. Stockholders of record on Tuesday, October 18th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.26%. This is an increase from AZZ’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, October 14th. AZZ’s dividend payout ratio is presently 25.00%.
Several large investors have recently modified their holdings of AZZ. Neuberger Berman Group LLC acquired a new stake in shares of AZZ during the second quarter valued at $15,038,000. Fiera Capital Corp acquired a new stake in shares of AZZ during the second quarter valued at $14,738,000. Goldman Sachs Group Inc. increased its stake in shares of AZZ by 111.5% in the first quarter. Goldman Sachs Group Inc. now owns 156,409 shares of the company’s stock valued at $8,853,000 after buying an additional 82,461 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of AZZ by 4.1% in the second quarter. Vanguard Group Inc. now owns 2,007,890 shares of the company’s stock valued at $120,434,000 after buying an additional 78,992 shares during the last quarter. Finally, Cortina Asset Management LLC acquired a new stake in shares of AZZ during the second quarter valued at $4,515,000. Hedge funds and other institutional investors own 83.80% of the company’s stock.
Several equities research analysts have commented on the company. Zacks Investment Research raised AZZ from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Thursday, July 7th. DA Davidson reissued a “hold” rating and issued a $55.00 target price on shares of AZZ in a report on Wednesday, July 6th.
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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