Insider Buying: AZZ Inc. (AZZ) Insider Purchases 7,500 Shares of Stock
AZZ Inc. (NYSE:AZZ) insider Thomas E. Ferguson acquired 7,500 shares of the firm’s stock in a transaction on Monday, October 10th. The stock was purchased at an average cost of $55.24 per share, with a total value of $414,300.00. Following the purchase, the insider now owns 29,276 shares of the company’s stock, valued at $1,617,206.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of AZZ Inc. (NYSE:AZZ) traded down 2.18% during trading on Tuesday, hitting $54.25. 194,462 shares of the stock were exchanged. The stock’s 50 day moving average price is $64.31 and its 200-day moving average price is $60.39. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 20.03 and a beta of 1.34. AZZ Inc. has a one year low of $47.04 and a one year high of $67.98.
AZZ (NYSE:AZZ) last released its 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. The company had revenue of $195 million for the quarter, compared to analysts’ expectations of $225.43 million. AZZ had a return on equity of 15.84% and a net margin of 7.88%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. On average, analysts predict that AZZ Inc. will post $3.31 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, October 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.25%. This is a boost from AZZ’s previous quarterly dividend of $0.15. AZZ’s payout ratio is currently 22.06%.
Hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its stake in 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 in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of AZZ by 0.6% in the second quarter. JPMorgan Chase & Co. now owns 16,826 shares of the company’s stock valued at $1,009,000 after buying an additional 100 shares in the last quarter. PineBridge Investments L.P. boosted its stake 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 in the last quarter. Advisors Asset Management Inc. boosted its stake 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 in the last quarter. Finally, United Services Automobile Association boosted its stake in shares of AZZ by 2.9% in the second quarter. United Services Automobile Association now owns 7,190 shares of the company’s stock valued at $431,000 after buying an additional 200 shares in the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on AZZ shares. Zacks Investment Research raised shares of AZZ from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Thursday, July 7th. DA Davidson reissued a “hold” rating and issued a $55.00 price objective on shares of AZZ in a research note on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $60.00.
AZZ Company Profile
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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