Insider Buying: AZZ Inc. (AZZ) VP Purchases 1,000 Shares of Stock
AZZ Inc. (NYSE:AZZ) VP Robert Joseph Steines bought 1,000 shares of the stock in a transaction dated Thursday, October 13th. The shares were 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 directly owns 2,625 shares in the company, valued at approximately $143,167.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of AZZ Inc. (NYSE:AZZ) opened at 54.67 on Friday. The company has a 50-day moving average price of $63.28 and a 200-day moving average price of $60.27. The company has a market capitalization of $1.42 billion, a P/E ratio of 20.18 and a beta of 1.34. AZZ Inc. has a 12 month low of $47.04 and a 12 month high of $67.98.
AZZ (NYSE:AZZ) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.17. The company earned $195 million during the quarter, compared to analyst estimates of $225.43 million. AZZ had a net margin of 7.88% and a return on equity of 15.84%. The company’s revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. On average, analysts forecast that AZZ Inc. will post $3.31 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, October 14th. This is a boost from AZZ’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.24%. AZZ’s payout ratio is 22.06%.
A number of research analysts have recently commented on the company. Zacks Investment Research downgraded AZZ from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. DA Davidson restated a “hold” rating and issued a $55.00 price target on shares of AZZ in a research report on Wednesday, July 6th.
Hedge funds have recently bought and sold shares of the stock. 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 during the period. JPMorgan Chase & Co. boosted its stake in 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. PineBridge Investments L.P. boosted its stake in 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. Advisors Asset Management Inc. boosted its stake in AZZ by 12.7% in the second quarter. Advisors Asset Management Inc. now owns 1,737 shares of the company’s stock worth $104,000 after buying an additional 196 shares during the period. Finally, United Services Automobile Association boosted its stake in AZZ by 2.9% in the second quarter. United Services Automobile Association now owns 7,190 shares of the company’s stock worth $431,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 84.08% of the company’s stock.
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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