AZZ (NYSE:AZZ) Sees Strong Trading Volume – Time to Buy?

Shares of AZZ Inc. (NYSE:AZZ) saw strong trading volume on Wednesday . 148,708 shares were traded during mid-day trading, a decline of 35% from the previous session’s volume of 227,809 shares.The stock last traded at $133.45 and had previously closed at $133.09.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. B. Riley Financial raised their price target on AZZ from $169.00 to $170.00 and gave the company a “buy” rating in a report on Monday, July 13th. Wall Street Zen cut shares of AZZ from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Wells Fargo & Company lifted their target price on shares of AZZ from $138.00 to $144.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Finally, Weiss Ratings cut shares of AZZ from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 9th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, AZZ currently has an average rating of “Moderate Buy” and an average target price of $155.25.

AZZ Price Performance

The company has a current ratio of 1.92, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $4.00 billion, a PE ratio of 20.31 and a beta of 1.11. The firm has a fifty day moving average of $144.70 and a two-hundred day moving average of $140.57.

AZZ (NYSE:AZZ) last issued its earnings results on Wednesday, July 8th. The industrial products company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.80 by $0.05. The company had revenue of $448.53 million for the quarter, compared to the consensus estimate of $434.58 million. AZZ had a net margin of 11.83% and a return on equity of 14.18%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 earnings per share. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. Research analysts anticipate that AZZ Inc. will post 7.06 EPS for the current fiscal year.

AZZ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th were given a $0.24 dividend. The ex-dividend date was Thursday, July 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from AZZ’s previous quarterly dividend of $0.20. AZZ’s dividend payout ratio is 14.63%.

Insider Buying and Selling at AZZ

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

Institutional Investors Weigh In On AZZ

A number of hedge funds and other institutional investors have recently bought and sold shares of AZZ. BlackRock Inc. purchased a new stake in shares of AZZ in the second quarter worth $719,876,000. Capital International Investors raised its holdings in AZZ by 2.5% in the 4th quarter. Capital International Investors now owns 2,009,812 shares of the industrial products company’s stock worth $215,412,000 after acquiring an additional 48,565 shares during the last quarter. Geode Capital Management LLC raised its holdings in AZZ by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 712,405 shares of the industrial products company’s stock worth $76,369,000 after acquiring an additional 2,145 shares during the last quarter. SEB Asset Management AB bought a new position in AZZ in the 1st quarter valued at approximately $45,297,000. Finally, Kennedy Capital Management LLC lifted its position in AZZ by 13.8% in the 4th quarter. Kennedy Capital Management LLC now owns 240,271 shares of the industrial products company’s stock valued at $25,752,000 after acquiring an additional 29,055 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

AZZ Company Profile

AZZ Inc (NYSE: AZZ) is a provider of metal coating and coil coating solutions serving industrial and infrastructure markets. The company’s Metal Coatings segment offers hot-dip galvanizing, powder coating, anodizing and related finishing services designed to protect steel and other metal products from corrosion and extend their service life.

Through its Precoat Metals business, AZZ provides continuous coil coating services for flat-rolled steel and aluminum. Its coatings are used in products and applications including building materials, transportation equipment, appliances, consumer goods, packaging and other manufactured components.