AZZ (NYSE:AZZ) Stock Breaks Above Fifty Day Moving Average – Here’s What Happened

AZZ Inc. (NYSE:AZZ) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $136.89 and traded as high as $137.79. AZZ shares last traded at $137.4530, with a volume of 174,258 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Robert W. Baird cut their target price on AZZ from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Thursday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AZZ in a report on Tuesday, October 6th. Barclays increased their price objective on AZZ from $140.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. B. Riley Financial raised their target price on AZZ from $170.00 to $174.00 and gave the company a “buy” rating in a report on Thursday, October 15th. Finally, Wall Street Zen upgraded shares of AZZ from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $153.20.

AZZ Stock Up 3.0%

The firm’s 50-day moving average is $136.89 and its 200 day moving average is $137.79.

AZZ (NYSE:AZZ) last posted its earnings results on Tuesday, October 13th. The industrial products company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.12. The business had revenue of $486.89 million for the quarter, compared to analysts’ expectations of $467.14 million. During the same quarter last year, the business posted $1.55 earnings per share. The business’s revenue was up 16.7% compared to the same quarter last year. AZZ has set its FY 2027 guidance at 7.000-7.300 EPS. As a group, analysts anticipate that AZZ Inc. will post 7.16 earnings per share for the current fiscal year.

AZZ Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Monday, October 19th will be given a $0.24 dividend. The ex-dividend date is Monday, October 19th. This represents a $0.96 annualized dividend and a dividend yield of 0.7%.

Insider Activity at AZZ

In related news, COO Bryan Lee Stovall sold 2,677 shares of AZZ stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $150.07, for a total transaction of $401,737.39. Following the completion of the transaction, the chief operating officer directly owned 35,000 shares in the company, valued at $5,252,450. The trade was a 7.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey Vellines sold 4,220 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $153.55, for a total value of $647,981.00. Following the completion of the sale, the chief operating officer directly owned 1,834 shares in the company, valued at approximately $281,610.70. The trade was a 69.71% decrease in their position. The SEC filing for this sale provides additional information. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AZZ

Institutional investors have recently made changes to their positions in the stock. Verdence Capital Advisors LLC grew its stake in AZZ by 10.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 11,592 shares of the industrial products company’s stock worth $1,558,000 after acquiring an additional 1,095 shares during the period. Pullen Investment Management LLC lifted its stake in shares of AZZ by 12.8% during the 3rd quarter. Pullen Investment Management LLC now owns 26,247 shares of the industrial products company’s stock worth $3,527,000 after purchasing an additional 2,985 shares during the period. Signaturefd LLC lifted its stake in shares of AZZ by 38.6% during the 3rd quarter. Signaturefd LLC now owns 593 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 165 shares during the period. Tectonic Advisors LLC lifted its stake in shares of AZZ by 9.1% during the 3rd quarter. Tectonic Advisors LLC now owns 6,524 shares of the industrial products company’s stock worth $877,000 after purchasing an additional 546 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of AZZ during the 3rd quarter worth $2,553,000. 90.93% of the stock is owned by institutional investors and hedge funds.

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 businesses, helping protect and enhance the performance, durability and appearance of steel and other metal products used across industrial and commercial markets.

AZZ’s Metal Coatings business provides hot-dip galvanizing and other corrosion-protection services for fabricated steel products. Its offerings support infrastructure, transportation, utility, construction, industrial and agricultural applications.