AZZ (NYSE:AZZ) Sees Strong Trading Volume

AZZ Inc. (NYSE:AZZ) saw strong trading volume on Friday . 1,248,757 shares were traded during trading, an increase of 577% from the previous session’s volume of 184,435 shares.The stock last traded at $71.14 and had previously closed at $73.24.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com upgraded AZZ from a “hold” rating to a “buy” rating in a report on Thursday. B. Riley boosted their price target on AZZ from $67.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Finally, Noble Financial downgraded AZZ from an “outperform” rating to a “market perform” rating and set a $75.00 price target on the stock. in a report on Friday, March 22nd.

AZZ Stock Performance

The business has a fifty day moving average of $75.28 and a 200-day moving average of $61.72. The company has a current ratio of 1.89, a quick ratio of 1.33 and a debt-to-equity ratio of 1.36. The company has a market cap of $1.79 billion, a PE ratio of 20.84, a P/E/G ratio of 1.08 and a beta of 1.28.

AZZ (NYSE:AZZ) last posted its earnings results on Monday, April 22nd. The industrial products company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.23. AZZ had a return on equity of 15.66% and a net margin of 6.61%. The firm had revenue of $366.50 million for the quarter, compared to the consensus estimate of $351.67 million. During the same quarter in the prior year, the business earned $0.30 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts anticipate that AZZ Inc. will post 4.83 earnings per share for the current fiscal year.

AZZ Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 2nd. Shareholders of record on Wednesday, April 17th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, April 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.95%. AZZ’s dividend payout ratio (DPR) is 19.83%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of AZZ during the 1st quarter worth approximately $32,000. Covestor Ltd boosted its position in shares of AZZ by 131.5% in the 3rd quarter. Covestor Ltd now owns 903 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 513 shares in the last quarter. Strs Ohio bought a new stake in shares of AZZ in the 4th quarter worth approximately $197,000. Victory Capital Management Inc. bought a new stake in shares of AZZ in the 3rd quarter worth approximately $203,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of AZZ in the 1st quarter worth approximately $215,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

AZZ Company Profile

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.