AZZ (NYSE:AZZ) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of AZZ (NYSE:AZZFree Report) from a buy rating to a hold rating in a research report released on Friday morning.

AZZ Price Performance

AZZ opened at $70.26 on Friday. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 25.36, a P/E/G ratio of 1.16 and a beta of 1.24. AZZ has a 1 year low of $34.59 and a 1 year high of $70.56. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.96 and a quick ratio of 1.33. The firm’s fifty day moving average price is $58.41 and its two-hundred day moving average price is $51.02.

AZZ (NYSE:AZZGet Free Report) last announced its quarterly earnings data 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. AZZ had a return on equity of 13.15% and a net margin of 5.63%. The business had revenue of $381.60 million for the quarter, compared to analysts’ expectations of $374.74 million. During the same period in the previous year, the business posted $0.88 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that AZZ will post 4.3 earnings per share for the current fiscal year.

AZZ Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 7th. Stockholders of record on Tuesday, January 30th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, January 29th. AZZ’s dividend payout ratio is presently 24.55%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AZZ. Gabelli Funds LLC boosted its stake in AZZ by 0.3% in the second quarter. Gabelli Funds LLC now owns 266,708 shares of the industrial products company’s stock worth $11,591,000 after buying an additional 715 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in AZZ in the third quarter worth approximately $485,000. Sei Investments Co. boosted its stake in AZZ by 3.9% in the second quarter. Sei Investments Co. now owns 113,299 shares of the industrial products company’s stock worth $4,924,000 after buying an additional 4,228 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in AZZ by 26.5% in the third quarter. Assenagon Asset Management S.A. now owns 51,396 shares of the industrial products company’s stock worth $2,343,000 after buying an additional 10,758 shares in the last quarter. Finally, Orchard Capital Management LLC purchased a new stake in AZZ in the second quarter worth approximately $202,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

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.

Further Reading

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