AZZ Inc (NYSE:AZZ) insider Matthew Varley Emery sold 844 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $54.05, for a total transaction of $45,618.20. Following the completion of the sale, the insider now directly owns 7,523 shares of the company’s stock, valued at approximately $406,618.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
NYSE:AZZ traded up $0.05 during midday trading on Friday, reaching $53.30. 2,548 shares of the stock traded hands, compared to its average volume of 167,267. AZZ Inc has a 12-month low of $39.50 and a 12-month high of $56.05. The company has a quick ratio of 2.07, a current ratio of 2.96 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 39.41 and a beta of 1.42.
AZZ (NYSE:AZZ) last posted its earnings results on Tuesday, July 3rd. The industrial products company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.13. AZZ had a net margin of 5.50% and a return on equity of 4.99%. The company had revenue of $262.24 million during the quarter, compared to analysts’ expectations of $228.87 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. AZZ’s revenue for the quarter was up 27.7% compared to the same quarter last year. analysts expect that AZZ Inc will post 2.2 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 31st. Investors of record on Tuesday, July 17th were given a dividend of $0.17 per share. The ex-dividend date was Monday, July 16th. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. AZZ’s payout ratio is 50.37%.
A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in AZZ by 12.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,227,003 shares of the industrial products company’s stock valued at $53,313,000 after acquiring an additional 138,458 shares during the last quarter. Legal & General Group Plc lifted its position in AZZ by 5.0% during the second quarter. Legal & General Group Plc now owns 54,826 shares of the industrial products company’s stock valued at $2,372,000 after acquiring an additional 2,590 shares during the last quarter. BlackRock Inc. lifted its position in AZZ by 7.4% during the second quarter. BlackRock Inc. now owns 3,534,695 shares of the industrial products company’s stock valued at $153,583,000 after acquiring an additional 242,714 shares during the last quarter. Pinebridge Investments L.P. lifted its position in AZZ by 20.6% during the second quarter. Pinebridge Investments L.P. now owns 43,134 shares of the industrial products company’s stock valued at $1,874,000 after acquiring an additional 7,359 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in AZZ during the second quarter valued at approximately $213,000. 96.00% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on AZZ. Zacks Investment Research raised shares of AZZ from a “strong sell” rating to a “strong-buy” rating and set a $62.00 price target for the company in a research report on Tuesday, July 17th. Stifel Nicolaus lowered their price target on shares of AZZ from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Friday, May 18th. ValuEngine raised shares of AZZ from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Finally, TheStreet raised shares of AZZ from a “c+” rating to a “b-” rating in a research report on Thursday, July 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. AZZ currently has a consensus rating of “Buy” and an average target price of $54.50.
AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.
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