AZZ Inc. (NYSE:AZZ) COO Bryan Lee Stovall Sells 5,000 Shares

AZZ Inc. (NYSE:AZZ) COO Bryan Lee Stovall sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $107.98, for a total transaction of $539,900.00. Following the completion of the transaction, the chief operating officer owned 27,709 shares of the company’s stock, valued at approximately $2,992,017.82. This represents a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

AZZ Stock Performance

Shares of AZZ opened at $111.30 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.10 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $94.93 and a 200 day moving average of $90.08. AZZ Inc. has a 12 month low of $69.59 and a 12 month high of $113.58. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 12.90 and a beta of 1.24.

AZZ (NYSE:AZZ) last posted its quarterly earnings data on Wednesday, July 9th. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.19. AZZ had a return on equity of 15.54% and a net margin of 16.40%. The company had revenue of $421,962 billion during the quarter, compared to analyst estimates of $435.91 million. During the same quarter last year, the company earned $1.46 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that AZZ Inc. will post 5.13 earnings per share for the current year.

AZZ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.72%. This is a positive change from AZZ’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, July 10th. AZZ’s dividend payout ratio is 9.27%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Evercore ISI upped their target price on shares of AZZ from $90.00 to $108.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Robert W. Baird increased their price target on shares of AZZ from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Wall Street Zen raised shares of AZZ from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. Sidoti lowered shares of AZZ from a “buy” rating to a “neutral” rating and set a $101.00 target price on the stock. in a research note on Monday, June 9th. Finally, Noble Financial restated an “outperform” rating on shares of AZZ in a research note on Monday, July 14th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Institutional Investors Weigh In On AZZ

A number of institutional investors have recently bought and sold shares of AZZ. GAMMA Investing LLC increased its holdings in AZZ by 39.6% during the second quarter. GAMMA Investing LLC now owns 374 shares of the industrial products company’s stock valued at $35,000 after buying an additional 106 shares during the period. Hsbc Holdings PLC lifted its stake in shares of AZZ by 2.8% during the first quarter. Hsbc Holdings PLC now owns 4,220 shares of the industrial products company’s stock worth $353,000 after buying an additional 113 shares during the period. Farther Finance Advisors LLC lifted its position in AZZ by 32.4% during the fourth quarter. Farther Finance Advisors LLC now owns 515 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 126 shares during the period. Cerity Partners LLC lifted its position in AZZ by 4.2% during the first quarter. Cerity Partners LLC now owns 3,606 shares of the industrial products company’s stock valued at $302,000 after purchasing an additional 146 shares during the period. Finally, Oliver Luxxe Assets LLC lifted its position in AZZ by 1.0% during the first quarter. Oliver Luxxe Assets LLC now owns 17,528 shares of the industrial products company’s stock valued at $1,466,000 after purchasing an additional 176 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

AZZ Company Profile

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.