Tredje AP fonden Takes $1.70 Million Position in AZZ Inc. (NYSE:AZZ)

Tredje AP fonden bought a new position in AZZ Inc. (NYSE:AZZ) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 22,000 shares of the industrial products company’s stock, valued at approximately $1,700,000. Tredje AP fonden owned 0.07% of AZZ at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Riverwater Partners LLC lifted its holdings in shares of AZZ by 1.2% during the first quarter. Riverwater Partners LLC now owns 14,945 shares of the industrial products company’s stock worth $1,155,000 after buying an additional 179 shares during the last quarter. CWM LLC boosted its holdings in AZZ by 69.4% in the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 188 shares during the period. Claro Advisors LLC grew its position in AZZ by 7.7% in the 2nd quarter. Claro Advisors LLC now owns 3,298 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 236 shares during the last quarter. FSC Wealth Advisors LLC increased its holdings in shares of AZZ by 38.6% during the 2nd quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company’s stock worth $73,000 after purchasing an additional 265 shares during the period. Finally, Texas Permanent School Fund Corp raised its position in shares of AZZ by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 21,947 shares of the industrial products company’s stock valued at $1,697,000 after buying an additional 284 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AZZ

In other AZZ news, COO Bryan Lee Stovall sold 14,545 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $84.79, for a total value of $1,233,270.55. Following the completion of the transaction, the chief operating officer now directly owns 20,000 shares in the company, valued at $1,695,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Tara D. Mackey sold 331 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $83.50, for a total value of $27,638.50. Following the sale, the insider now directly owns 34,229 shares of the company’s stock, valued at approximately $2,858,121.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Bryan Lee Stovall sold 14,545 shares of AZZ stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $84.79, for a total transaction of $1,233,270.55. Following the transaction, the chief operating officer now directly owns 20,000 shares of the company’s stock, valued at approximately $1,695,800. The disclosure for this sale can be found here. Insiders have acquired a total of 1,511 shares of company stock worth $52,794 over the last 90 days. Insiders own 2.10% of the company’s stock.

AZZ Stock Down 0.9 %

Shares of AZZ stock opened at $81.89 on Friday. The firm’s fifty day moving average price is $79.14 and its two-hundred day moving average price is $77.95. The company has a current ratio of 1.89, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. AZZ Inc. has a 1 year low of $43.48 and a 1 year high of $88.67. The firm has a market capitalization of $2.44 billion, a P/E ratio of 76.53, a PEG ratio of 1.08 and a beta of 1.24.

AZZ (NYSE:AZZ) last released its earnings results on Wednesday, July 10th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.16. The business had revenue of $413.21 million for the quarter, compared to the consensus estimate of $403.25 million. AZZ had a return on equity of 17.08% and a net margin of 7.22%. AZZ’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share. On average, equities analysts predict that AZZ Inc. will post 4.93 EPS for the current fiscal year.

AZZ Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Evercore ISI initiated coverage on AZZ in a research report on Friday, June 14th. They set an “outperform” rating and a $90.00 target price on the stock. B. Riley increased their price target on shares of AZZ from $89.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Baird R W upgraded shares of AZZ to a “hold” rating in a research note on Tuesday, July 23rd. Robert W. Baird started coverage on AZZ in a report on Tuesday, July 23rd. They set a “neutral” rating and a $90.00 price target for the company. Finally, Wolfe Research began coverage on shares of AZZ in a research note on Wednesday, July 31st. They issued a “peer perform” rating for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.80.

AZZ 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.