AZZ Inc. (NYSE:AZZ) Receives $100.71 Average PT from Analysts

Shares of AZZ Inc. (NYSE:AZZ) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $100.71.

Several equities analysts recently issued reports on the stock. Noble Financial reissued an “outperform” rating on shares of AZZ in a report on Thursday, March 6th. 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. Roth Mkm assumed coverage on AZZ in a research note on Tuesday, February 11th. They set a “buy” rating and a $108.00 price objective for the company. Sidoti raised AZZ from a “neutral” rating to a “buy” rating and set a $101.00 price objective on the stock in a research report on Wednesday. Finally, Roth Capital upgraded shares of AZZ to a “strong-buy” rating in a report on Tuesday, February 11th.

Institutional Investors Weigh In On AZZ

A number of large investors have recently made changes to their positions in the stock. Nordea Investment Management AB acquired a new stake in AZZ during the 4th quarter worth about $7,798,000. Oliver Luxxe Assets LLC purchased a new position in shares of AZZ during the fourth quarter worth $1,421,000. Assenagon Asset Management S.A. lifted its holdings in shares of AZZ by 23.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 22,715 shares of the industrial products company’s stock valued at $1,861,000 after buying an additional 4,315 shares during the period. Hennessy Advisors Inc. lifted its holdings in AZZ by 6.8% in the fourth quarter. Hennessy Advisors Inc. now owns 131,500 shares of the industrial products company’s stock valued at $10,772,000 after acquiring an additional 8,400 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in AZZ by 1.5% during the third quarter. Geode Capital Management LLC now owns 675,603 shares of the industrial products company’s stock worth $55,823,000 after buying an additional 10,072 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

AZZ Stock Up 1.2 %

Shares of AZZ stock opened at $81.85 on Thursday. AZZ has a 1 year low of $69.59 and a 1 year high of $99.49. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.77 and a quick ratio of 1.26. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 55.30, a PEG ratio of 1.32 and a beta of 1.22. The firm’s 50-day moving average is $88.97 and its two-hundred day moving average is $86.33.

AZZ Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 24th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.83%. AZZ’s dividend payout ratio is currently 45.95%.

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.