King Luther Capital Management Corp Cuts Stock Position in AZZ Inc. (NYSE:AZZ)

King Luther Capital Management Corp decreased its holdings in AZZ Inc. (NYSE:AZZ) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 237,640 shares of the industrial products company’s stock after selling 7,210 shares during the quarter. King Luther Capital Management Corp owned 0.80% of AZZ worth $18,358,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. purchased a new stake in AZZ during the 1st quarter worth about $32,000. CWM LLC increased its stake in shares of AZZ by 69.4% during the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after buying an additional 188 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in AZZ in the second quarter valued at approximately $72,000. FSC Wealth Advisors LLC lifted its stake in AZZ by 38.6% in the second quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company’s stock worth $73,000 after acquiring an additional 265 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new position in AZZ during the 1st quarter worth approximately $77,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Stock Down 0.9 %

Shares of NYSE AZZ opened at $81.89 on Friday. The business has a 50-day moving average price of $79.14 and a 200 day moving average price of $77.95. The stock has a market cap of $2.44 billion, a PE ratio of 76.53, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 1.36. AZZ Inc. has a 52-week low of $43.48 and a 52-week high of $88.67.

AZZ (NYSE:AZZ) last announced its earnings results on Wednesday, July 10th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.16. AZZ had a net margin of 7.22% and a return on equity of 17.08%. The business had revenue of $413.21 million for the quarter, compared to analyst estimates of $403.25 million. During the same period last year, the firm posted $1.14 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts forecast that AZZ Inc. will post 4.93 earnings per share for the current year.

AZZ Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, July 10th. This represents a $0.68 dividend on an annualized basis and a yield of 0.83%. AZZ’s payout ratio is 63.55%.

Insider Buying and Selling at AZZ

In related news, insider Tara D. Mackey sold 331 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $83.50, for a total transaction of $27,638.50. Following the completion of the sale, the insider now directly owns 34,229 shares of the company’s stock, valued at $2,858,121.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Tara D. Mackey sold 331 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $83.50, for a total transaction of $27,638.50. Following the transaction, the insider now directly owns 34,229 shares in the company, valued at $2,858,121.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Bryan Lee Stovall sold 14,545 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $84.79, for a total transaction of $1,233,270.55. Following the completion of the sale, the chief operating officer now owns 20,000 shares of the company’s stock, valued at approximately $1,695,800. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 1,511 shares of company stock worth $52,794. 2.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

AZZ has been the subject of a number of analyst reports. B. Riley boosted their target price on shares of AZZ from $89.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Robert W. Baird initiated coverage on AZZ in a research report on Tuesday, July 23rd. They set a “neutral” rating and a $90.00 price objective for the company. Baird R W raised AZZ to a “hold” rating in a research report on Tuesday, July 23rd. Wolfe Research assumed coverage on AZZ in a report on Wednesday, July 31st. They issued a “peer perform” rating for the company. Finally, Noble Financial raised shares of AZZ from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.80.

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.