Shares of AZZ Inc. (NYSE:AZZ) have been assigned an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating.
Brokers have set a 12 month consensus price target of $61.50 for the company and are predicting that the company will post $1.00 earnings per share for the current quarter, according to Zacks. Zacks has also assigned AZZ an industry rank of 192 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research lowered AZZ from a “hold” rating to a “strong sell” rating in a research note on Friday, October 7th.
In other news, insider Thomas E. Ferguson acquired 7,500 shares of the stock in a transaction that occurred on Monday, October 10th. The stock was purchased at an average cost of $55.24 per share, for a total transaction of $414,300.00. Following the completion of the transaction, the insider now directly owns 29,276 shares in the company, valued at $1,617,206.24. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert Joseph Steines acquired 1,000 shares of the stock in a transaction that occurred on Thursday, October 13th. The stock was purchased at an average price of $54.54 per share, with a total value of $54,540.00. Following the completion of the transaction, the vice president now owns 2,625 shares of the company’s stock, valued at $143,167.50. The disclosure for this purchase can be found here. 0.01% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan boosted its position in shares of AZZ by 1.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,860 shares of the company’s stock worth $447,000 after buying an additional 90 shares during the period. Louisiana State Employees Retirement System boosted 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 period. JPMorgan Chase & Co. boosted 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 period. Capital One National Association boosted its position in shares of AZZ by 1.5% in the third quarter. Capital One National Association now owns 8,834 shares of the company’s stock worth $577,000 after buying an additional 129 shares during the period. Finally, PineBridge Investments L.P. boosted 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 period. Hedge funds and other institutional investors own 85.81% of the company’s stock.
Shares of AZZ (NYSE:AZZ) opened at 66.40 on Tuesday. The firm’s 50-day moving average is $56.91 and its 200-day moving average is $60.52. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 24.51 and a beta of 1.42. AZZ has a 1-year low of $47.04 and a 1-year high of $67.98.
AZZ (NYSE:AZZ) last announced its earnings results on Wednesday, October 5th. The company reported $0.55 earnings per share 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 analyst estimates of $225.43 million. During the same quarter last year, the business posted $0.67 earnings per share. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, analysts predict that AZZ will post $3.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.02%. This is a positive change from AZZ’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, October 14th. AZZ’s dividend payout ratio (DPR) is presently 25.00%.
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.