Trade Report: The Robert Joseph Steines invests in 1,000 by purchasing AZZ Inc. (AZZ) Stock shares

The Robert Joseph Steines invests in 1,000 by purchasing AZZ Inc. (AZZ) Stock shares

AZZ Inc. (NYSE:AZZ) VP Robert Joseph Steines acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 13th. The shares were bought at an average price of $54.54 per share, with a total value of $54,540.00. Following the completion of the purchase, the vice president now owns 2,625 shares in the company, valued at approximately $143,167.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

AZZ Inc. (NYSE:AZZ) opened at 53.95 on Tuesday. AZZ Inc. has a 12-month low of $47.04 and a 12-month 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. The stock has a market capitalization of $1.40 billion, a PE ratio of 19.92 and a beta of 1.34.

AZZ (NYSE:AZZ) last released its quarterly earnings results on Wednesday, October 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $225.43 million. During the same quarter last year, the business posted $0.67 earnings per share. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. Analysts expect that AZZ Inc. will post $3.31 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.26%. This is a boost from AZZ’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, October 14th. AZZ’s dividend payout ratio (DPR) is presently 25.00%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in shares of 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 during the last quarter. BlackRock Inc. boosted its position in shares of 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 during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of AZZ during the second quarter valued at about $181,000. 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 valued at $197,000 after buying an additional 131 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 83.80% of the company’s stock.

A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded AZZ from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. DA Davidson reiterated a “hold” rating and set a $55.00 price objective on shares of AZZ in a research note on Wednesday, July 6th.

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