AZZ (NYSE:AZZ) Stock Breaks Above Fifty Day Moving Average – Here’s What Happened

AZZ Inc. (NYSE:AZZ) shares passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $136.89 and traded as high as $137.79. AZZ shares last traded at $137.4530, with a volume of 174,258 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AZZ shares. Wall Street Zen raised AZZ from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Barclays upped their price target on AZZ from $140.00 to $145.00 and gave the company an “equal weight” rating in a report on Thursday, October 15th. Robert W. Baird dropped their price target on shares of AZZ from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Thursday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of AZZ in a report on Tuesday, October 6th. Finally, Wells Fargo & Company raised their price objective on shares of AZZ from $144.00 to $145.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, AZZ has an average rating of “Moderate Buy” and a consensus price target of $153.20.

AZZ Stock Performance

The company’s 50-day simple moving average is $136.89 and its 200-day simple moving average is $137.79.

AZZ (NYSE:AZZ) last posted its quarterly earnings data on Tuesday, October 13th. The industrial products company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. The business had revenue of $486.89 million during the quarter, compared to analyst estimates of $467.14 million. During the same quarter in the prior year, the firm posted $1.55 earnings per share. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. AZZ has set its FY 2027 guidance at 7.000-7.300 EPS. As a group, equities analysts anticipate that AZZ Inc. will post 7.16 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Monday, October 19th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, October 19th.

Insider Buying and Selling

In other news, COO Bryan Lee Stovall sold 2,677 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $150.07, for a total transaction of $401,737.39. Following the completion of the sale, the chief operating officer owned 35,000 shares in the company, valued at $5,252,450. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey Vellines sold 4,220 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $153.55, for a total value of $647,981.00. Following the sale, the chief operating officer owned 1,834 shares of the company’s stock, valued at $281,610.70. This trade represents a 69.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On AZZ

Several institutional investors have recently bought and sold shares of AZZ. Verdence Capital Advisors LLC lifted its stake in shares of AZZ by 10.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 11,592 shares of the industrial products company’s stock worth $1,558,000 after acquiring an additional 1,095 shares during the period. Pullen Investment Management LLC increased its stake in shares of AZZ by 12.8% during the third quarter. Pullen Investment Management LLC now owns 26,247 shares of the industrial products company’s stock worth $3,527,000 after acquiring an additional 2,985 shares during the period. Signaturefd LLC increased its stake in shares of AZZ by 38.6% during the third quarter. Signaturefd LLC now owns 593 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 165 shares during the period. Tectonic Advisors LLC increased its stake in shares of AZZ by 9.1% during the third quarter. Tectonic Advisors LLC now owns 6,524 shares of the industrial products company’s stock worth $877,000 after acquiring an additional 546 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new position in AZZ during the third quarter worth about $2,553,000. 90.93% of the stock is owned by institutional investors and hedge funds.

AZZ Company Profile

AZZ Inc is a provider of metal-coating solutions serving customers primarily in North America. The company operates through its Metal Coatings and Precoat Metals businesses, helping protect and enhance the performance, durability and appearance of steel and other metal products used across industrial and commercial markets.

AZZ’s Metal Coatings business provides hot-dip galvanizing and other corrosion-protection services for fabricated steel products. Its offerings support infrastructure, transportation, utility, construction, industrial and agricultural applications.