AZZ (NYSE:AZZ) Price Target Lowered to $54.00 at Stifel Nicolaus

AZZ (NYSE:AZZGet Rating) had its price target cut by Stifel Nicolaus from $62.00 to $54.00 in a report issued on Tuesday, The Fly reports. They currently have a buy rating on the industrial products company’s stock.

Separately, StockNews.com downgraded shares of AZZ from a buy rating to a hold rating in a research note on Friday, June 17th.

AZZ Price Performance

Shares of NYSE AZZ opened at $39.33 on Tuesday. The firm has a market cap of $974.95 million, a PE ratio of 11.43 and a beta of 1.24. The company has a current ratio of 2.15, a quick ratio of 1.59 and a debt-to-equity ratio of 2.32. AZZ has a 1-year low of $38.00 and a 1-year high of $58.59. The company has a fifty day moving average price of $42.49 and a 200 day moving average price of $44.43.

AZZ (NYSE:AZZGet Rating) last announced its earnings results on Monday, July 11th. The industrial products company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.37. The firm had revenue of $314.40 million during the quarter, compared to analyst estimates of $286.92 million. AZZ had a net margin of 8.69% and a return on equity of 14.76%. The company’s revenue for the quarter was up 36.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. Research analysts predict that AZZ will post 3.83 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 2nd. Shareholders of record on Tuesday, July 19th were issued a $0.17 dividend. The ex-dividend date was Monday, July 18th. This represents a $0.68 annualized dividend and a yield of 1.73%. AZZ’s dividend payout ratio is currently 19.77%.

Insider Buying and Selling at AZZ

In other AZZ news, CEO Thomas E. Ferguson bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were purchased at an average price of $42.49 per share, for a total transaction of $212,450.00. Following the transaction, the chief executive officer now directly owns 170,550 shares in the company, valued at approximately $7,246,669.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its position in AZZ by 208.4% in the second quarter. Millennium Management LLC now owns 322,282 shares of the industrial products company’s stock valued at $13,156,000 after buying an additional 217,776 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in AZZ by 22.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 765,874 shares of the industrial products company’s stock valued at $42,345,000 after buying an additional 138,681 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in AZZ by 104.8% in the first quarter. Goldman Sachs Group Inc. now owns 170,258 shares of the industrial products company’s stock valued at $8,214,000 after buying an additional 87,111 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of AZZ by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,243,000 shares of the industrial products company’s stock valued at $59,963,000 after acquiring an additional 85,083 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of AZZ during the second quarter valued at $3,204,000. Institutional investors and hedge funds own 78.92% of the company’s stock.

AZZ Company Profile

(Get Rating)

AZZ Inc offers galvanizing and metal coating solutions, welding solutions, specialty electrical equipment, and engineered services to the power generation, transmission, distribution, refining, and industrial markets in the United States and internationally. The company operates through two segments, Infrastructure Solutions and Metal Coatings.

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