AZZ (NYSE:AZZ) Announces Quarterly Earnings Results, Beats Estimates By $0.14 EPS

AZZ (NYSE:AZZ) released its earnings results on Tuesday. The industrial products company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.14, FiscalAI reports. AZZ had a net margin of 11.83% and a return on equity of 14.18%. The firm had revenue of $486.89 million during the quarter, compared to analyst estimates of $463.44 million.

AZZ Price Performance

Shares of AZZ traded down $0.46 during mid-day trading on Tuesday, reaching $137.30. The company had a trading volume of 433,444 shares, compared to its average volume of 232,160. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.92 and a quick ratio of 1.39. The company has a market capitalization of $4.13 billion, a P/E ratio of 20.93 and a beta of 1.13. AZZ has a twelve month low of $94.61 and a twelve month high of $162.20. The company’s 50-day moving average is $140.49 and its 200-day moving average is $141.92.

AZZ Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, October 19th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, October 19th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.7%. AZZ’s dividend payout ratio is presently 14.63%.

Insider Buying and Selling at AZZ

In other AZZ news, COO Bryan Lee Stovall sold 2,677 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $150.07, for a total transaction of $401,737.39. Following the completion of the transaction, the chief operating officer directly owned 35,000 shares in the company, valued at $5,252,450. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey Vellines sold 4,220 shares of AZZ stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $153.55, for a total value of $647,981.00. Following the transaction, the chief operating officer directly owned 1,834 shares of the company’s stock, valued at approximately $281,610.70. The trade was a 69.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AZZ has been the subject of a number of recent research reports. B. Riley Financial upped their target price on AZZ from $169.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of AZZ in a research note on Tuesday, October 6th. Wall Street Zen lowered shares of AZZ from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Wells Fargo & Company increased their price objective on shares of AZZ from $138.00 to $144.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, AZZ has a consensus rating of “Moderate Buy” and an average price target of $155.25.

AZZ Company Profile

AZZ Inc is a provider of metal coating solutions serving customers primarily in North America. The company operates through its Metal Coatings and Precoat Metals segments, helping protect and enhance the performance, appearance, and durability of steel and other metal products used across a range of industries.

Through its Metal Coatings segment, AZZ provides hot-dip galvanizing, powder coating, anodizing, plating, and related coating services. These treatments are used for corrosion protection and finishing applications involving infrastructure, construction, industrial, transportation, and other metal products.

Precoat Metals provides coil coating services for steel and aluminum products before they are fabricated.