AZZ (NYSE:AZZ) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS
by Doug Wharley · The Cerbat GemAZZ (NYSE:AZZ – Get Free Report) posted its quarterly earnings results on Wednesday. The industrial products company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12, FiscalAI reports. AZZ had a return on equity of 14.45% and a net margin of 19.89%.The business had revenue of $385.10 million for the quarter, compared to analyst estimates of $382.24 million.
AZZ Stock Down 1.3%
Shares of AZZ stock traded down $1.75 on Wednesday, reaching $134.73. 361,497 shares of the company were exchanged, compared to its average volume of 178,133. AZZ has a 1-year low of $80.79 and a 1-year high of $141.18. The company has a market cap of $4.02 billion, a P/E ratio of 12.66 and a beta of 1.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.66 and a quick ratio of 1.21. The stock’s 50 day moving average price is $130.48 and its 200-day moving average price is $116.86.
AZZ Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 23rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. AZZ’s payout ratio is currently 7.52%.
Insider Transactions at AZZ
In other news, CEO Thomas E. Ferguson sold 25,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $127.29, for a total transaction of $3,182,250.00. Following the completion of the transaction, the chief executive officer directly owned 158,182 shares of the company’s stock, valued at approximately $20,134,986.78. The trade was a 13.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tara D. Mackey sold 2,923 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $136.00, for a total value of $397,528.00. Following the transaction, the insider directly owned 22,373 shares of the company’s stock, valued at approximately $3,042,728. This represents a 11.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.77% of the company’s stock.
Hedge Funds Weigh In On AZZ
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. boosted its holdings in AZZ by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,783,663 shares of the industrial products company’s stock valued at $191,174,000 after purchasing an additional 15,744 shares in the last quarter. Invesco Ltd. boosted its holdings in AZZ by 11.6% in the fourth quarter. Invesco Ltd. now owns 308,991 shares of the industrial products company’s stock valued at $33,118,000 after purchasing an additional 32,001 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in AZZ by 14.0% in the fourth quarter. Corient Private Wealth LLC now owns 4,849 shares of the industrial products company’s stock valued at $523,000 after purchasing an additional 594 shares in the last quarter. Widmann Financial Services Inc. acquired a new position in AZZ in the fourth quarter valued at approximately $307,000. Finally, Empowered Funds LLC boosted its holdings in AZZ by 30.9% in the fourth quarter. Empowered Funds LLC now owns 4,293 shares of the industrial products company’s stock valued at $460,000 after purchasing an additional 1,014 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.
AZZ declared that its Board of Directors has approved a share buyback program on Friday, January 30th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Wall Street Zen raised AZZ from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Wells Fargo & Company downgraded AZZ from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $127.00 to $132.00 in a research report on Monday, March 2nd. Evercore reissued an “outperform” rating and set a $137.00 price objective on shares of AZZ in a research report on Wednesday, March 4th. Weiss Ratings reissued a “buy (b)” rating on shares of AZZ in a research report on Monday, December 29th. Finally, Robert W. Baird set a $125.00 price objective on AZZ in a research report on Friday, January 9th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.00.
Check Out Our Latest Report on AZZ
About AZZ
AZZ Inc, incorporated in 1956 and headquartered in Fort Worth, Texas, is a leading provider of galvanizing and metal finishing solutions alongside electrical equipment and services. The company supports a diverse range of industries—such as energy, infrastructure, heavy equipment and general industrial markets—by delivering corrosion protection and high-performance electrical solutions designed for demanding environments.
AZZ operates two primary business segments. The Global Coatings & Services segment offers hot-dip galvanizing, metal finishing, painting, powder coating and related value-added services to steel fabricators and original equipment manufacturers.