AZZ (NYSE:AZZ) Posts Earnings Results, Beats Expectations By $0.14 EPS

AZZ (NYSE:AZZ) announced its quarterly earnings results on Tuesday. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $463.44 million.

AZZ Price Performance

Shares of NYSE:AZZ traded down $0.46 during midday trading on Tuesday, reaching $137.30. The company’s stock had a trading volume of 429,242 shares, compared to its average volume of 231,280. AZZ has a fifty-two week low of $94.61 and a fifty-two week high of $162.20. The company has a market capitalization of $4.13 billion, a P/E ratio of 20.93 and a beta of 1.13. 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 business’s fifty day simple moving average is $140.49 and its 200-day simple moving average is $141.92.

AZZ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, October 19th will be paid a $0.24 dividend. The ex-dividend date 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 (DPR) is 14.63%.

Analyst Ratings Changes

Several brokerages have weighed in on AZZ. B. Riley Financial upped their price objective on shares of AZZ from $169.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Wells Fargo & Company raised their price objective on shares of AZZ from $138.00 to $144.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Wall Street Zen cut shares of AZZ from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of AZZ in a report on Tuesday, October 6th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.25.

Insider Transactions at AZZ

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

About AZZ

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.