AZZ (NYSE:AZZ) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of AZZ (NYSE:AZZFree Report) from a buy rating to a hold rating in a research report sent to investors on Friday.

AZZ Price Performance

NYSE:AZZ opened at $69.55 on Friday. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 1.10 and a beta of 1.24. The company has a current ratio of 1.96, a quick ratio of 1.33 and a debt-to-equity ratio of 1.06. The company’s 50-day moving average is $58.03 and its two-hundred day moving average is $50.75. AZZ has a 12-month low of $34.59 and a 12-month high of $69.66.

AZZ (NYSE:AZZGet Free Report) last released its earnings results on Wednesday, January 10th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.19. The company had revenue of $381.60 million for the quarter, compared to analyst estimates of $374.74 million. AZZ had a net margin of 5.63% and a return on equity of 13.15%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. Research analysts expect that AZZ will post 4.3 EPS for the current year.

AZZ Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 7th. Stockholders of record on Tuesday, January 30th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, January 29th. This represents a $0.68 annualized dividend and a dividend yield of 0.98%. AZZ’s payout ratio is currently 24.55%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. State of Wyoming purchased a new position in shares of AZZ during the 4th quarter worth about $29,000. Covestor Ltd lifted its holdings in shares of AZZ by 131.5% during the 3rd quarter. Covestor Ltd now owns 903 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 513 shares during the period. Tower Research Capital LLC TRC increased its position in AZZ by 557.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,848 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 1,567 shares in the last quarter. Quantbot Technologies LP acquired a new stake in AZZ during the 2nd quarter worth approximately $93,000. Finally, Captrust Financial Advisors increased its position in AZZ by 31.5% during the 1st quarter. Captrust Financial Advisors now owns 2,431 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 583 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

About AZZ

(Get Free Report)

AZZ Inc provides hot-dip galvanizing and coil coating solutions in the United States, Canada, Brazil, China, the Netherlands, Poland, Singapore, and India. The company operates through AZZ Metal Coatings and AZZ Precoat Metals segments. The AZZ Metal Coatings segment offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries.

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