AZZ (NYSE:AZZ) Shares Down 4.9% – Here’s Why

AZZ Inc. (NYSE:AZZ) traded down 4.9% on Wednesday . The company traded as low as $86.39 and last traded at $86.00. Approximately 145,347 shares traded hands during trading, a decline of 39% from the average session volume of 238,082 shares. The stock had previously closed at $90.48.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Jefferies Financial Group increased their price target on shares of AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Noble Financial reaffirmed an “outperform” rating on shares of AZZ in a research note on Thursday, March 6th. Roth Capital upgraded shares of AZZ to a “strong-buy” rating in a report on Tuesday, February 11th. Roth Mkm initiated coverage on shares of AZZ in a research note on Tuesday, February 11th. They set a “buy” rating and a $108.00 target price for the company. Finally, B. Riley lifted their price target on AZZ from $99.00 to $111.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.67.

AZZ Trading Down 2.5 %

The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.77. The company has a market capitalization of $2.64 billion, a P/E ratio of 59.56, a PEG ratio of 1.32 and a beta of 1.27. The company’s fifty day simple moving average is $90.25 and its 200-day simple moving average is $85.72.

AZZ (NYSE:AZZ) last issued its earnings results on Tuesday, January 7th. The industrial products company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.10. The firm had revenue of $403.65 million during the quarter, compared to the consensus estimate of $394.30 million. AZZ had a net margin of 7.94% and a return on equity of 16.99%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 earnings per share. Research analysts predict that AZZ Inc. will post 5.13 earnings per share for the current year.

AZZ Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.77%. The ex-dividend date was Thursday, January 30th. AZZ’s dividend payout ratio (DPR) is presently 45.95%.

Institutional Investors Weigh In On AZZ

Several large investors have recently modified their holdings of AZZ. Farther Finance Advisors LLC raised its stake in AZZ by 3,790.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 379 shares during the period. US Bancorp DE boosted its stake in shares of AZZ by 39.0% in the 4th quarter. US Bancorp DE now owns 463 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 130 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of AZZ by 202.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 475 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 318 shares in the last quarter. Quarry LP increased its stake in shares of AZZ by 2,150.0% in the 4th quarter. Quarry LP now owns 855 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 817 shares in the last quarter. Finally, KBC Group NV increased its position in shares of AZZ by 50.8% during the 4th quarter. KBC Group NV now owns 1,244 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 419 shares during the last quarter. 90.93% of the stock is currently owned by 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.