Roth Mkm Begins Coverage on AZZ (NYSE:AZZ)

Roth Mkm assumed coverage on shares of AZZ (NYSE:AZZ) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $108.00 price objective on the industrial products company’s stock.

Separately, Jefferies Financial Group increased their price objective on AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.67.

AZZ Price Performance

Shares of NYSE AZZ opened at $98.63 on Tuesday. The firm has a market capitalization of $2.95 billion, a P/E ratio of 66.64, a P/E/G ratio of 1.33 and a beta of 1.30. The company has a quick ratio of 1.26, a current ratio of 1.77 and a debt-to-equity ratio of 0.85. The stock’s 50-day simple moving average is $87.87 and its two-hundred day simple moving average is $83.49. AZZ has a twelve month low of $68.76 and a twelve month high of $99.18.

AZZ (NYSE:AZZ) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.10. The business had revenue of $403.65 million for the quarter, compared to analyst estimates of $394.30 million. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 EPS. As a group, equities analysts anticipate that AZZ will post 5.13 EPS for the current fiscal year.

AZZ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $0.68 annualized dividend and a dividend yield of 0.69%. AZZ’s dividend payout ratio (DPR) is presently 45.95%.

Institutional Investors Weigh In On AZZ

Several institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in AZZ by 13.6% during the 3rd quarter. FMR LLC now owns 3,223,391 shares of the industrial products company’s stock valued at $266,284,000 after acquiring an additional 385,240 shares during the period. State Street Corp boosted its holdings in AZZ by 2.6% during the 3rd quarter. State Street Corp now owns 1,100,189 shares of the industrial products company’s stock valued at $90,887,000 after acquiring an additional 27,710 shares during the period. Wellington Management Group LLP boosted its holdings in AZZ by 19.2% during the 4th quarter. Wellington Management Group LLP now owns 882,308 shares of the industrial products company’s stock valued at $72,279,000 after acquiring an additional 142,215 shares during the period. Geode Capital Management LLC boosted its holdings in AZZ by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 675,603 shares of the industrial products company’s stock valued at $55,823,000 after acquiring an additional 10,072 shares during the period. Finally, Harvey Partners LLC boosted its holdings in AZZ by 1.8% during the 3rd quarter. Harvey Partners LLC now owns 666,000 shares of the industrial products company’s stock valued at $55,018,000 after acquiring an additional 12,000 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

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.