AZZ (AZZ) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of AZZ (NYSE:AZZ) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

According to Zacks, “AZZ Inc. is a global provider of metal coating services, welding solutions, specialty electrical equipment and highly engineered services to the markets of power generation, transmission, distribution and industrial in protecting metal and electrical systems used to build and enhance the world’s infrastructure. AZZ Metal Coatings is a leading provider of metal finishing solutions for corrosion protection, including hot dip galvanizing to the North American steel fabrication industry. AZZ Energy is dedicated to delivering safe and reliable transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in the energy markets worldwide. “

Shares of AZZ (NYSE AZZ) opened at $43.05 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.43 and a current ratio of 2.57. AZZ has a 1 year low of $40.90 and a 1 year high of $61.55. The stock has a market capitalization of $1,095.57, a PE ratio of 21.80 and a beta of 1.32.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Tuesday, February 6th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Monday, February 5th. AZZ’s dividend payout ratio is currently 34.52%.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in shares of AZZ by 2.7% during the fourth quarter. BlackRock Inc. now owns 3,239,398 shares of the industrial products company’s stock worth $165,534,000 after purchasing an additional 85,790 shares in the last quarter. Vanguard Group Inc. grew its position in shares of AZZ by 0.9% during the second quarter. Vanguard Group Inc. now owns 2,307,219 shares of the industrial products company’s stock worth $128,743,000 after purchasing an additional 20,239 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of AZZ by 11.5% during the third quarter. Neuberger Berman Group LLC now owns 2,053,087 shares of the industrial products company’s stock worth $99,985,000 after purchasing an additional 211,222 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of AZZ by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,029,118 shares of the industrial products company’s stock worth $50,119,000 after purchasing an additional 21,810 shares in the last quarter. Finally, Van Berkom & Associates Inc. grew its position in shares of AZZ by 5.3% during the third quarter. Van Berkom & Associates Inc. now owns 1,022,817 shares of the industrial products company’s stock worth $49,811,000 after purchasing an additional 51,485 shares in the last quarter. Hedge funds and other institutional investors own 87.29% of the company’s stock.

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AZZ Company Profile

AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.

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