US Bancorp DE Cuts Stock Holdings in AZZ Inc. (NYSE:AZZ)

US Bancorp DE lessened its holdings in AZZ Inc. (NYSE:AZZ) by 81.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 333 shares of the industrial products company’s stock after selling 1,416 shares during the quarter. US Bancorp DE’s holdings in AZZ were worth $28,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in AZZ. CWM LLC grew its position in shares of AZZ by 69.4% in the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 188 shares in the last quarter. Claro Advisors LLC lifted its holdings in shares of AZZ by 7.7% in the second quarter. Claro Advisors LLC now owns 3,298 shares of the industrial products company’s stock worth $255,000 after buying an additional 236 shares in the last quarter. FSC Wealth Advisors LLC boosted its position in shares of AZZ by 38.6% in the second quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 265 shares during the period. ProShare Advisors LLC grew its stake in AZZ by 7.4% during the first quarter. ProShare Advisors LLC now owns 5,010 shares of the industrial products company’s stock valued at $387,000 after acquiring an additional 344 shares in the last quarter. Finally, Pullen Investment Management LLC grew its stake in AZZ by 3.3% during the second quarter. Pullen Investment Management LLC now owns 11,379 shares of the industrial products company’s stock valued at $879,000 after acquiring an additional 368 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

AZZ Price Performance

Shares of AZZ stock opened at $85.00 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85. AZZ Inc. has a fifty-two week low of $48.03 and a fifty-two week high of $88.67. The firm has a market cap of $2.54 billion, a P/E ratio of 66.41, a P/E/G ratio of 1.16 and a beta of 1.25. The business’s 50 day moving average price is $80.17 and its 200-day moving average price is $79.44.

AZZ (NYSE:AZZ) last posted its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $409.01 million for the quarter, compared to the consensus estimate of $409.50 million. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 EPS. On average, equities research analysts anticipate that AZZ Inc. will post 5.11 earnings per share for the current year.

AZZ Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Friday, October 18th. AZZ’s dividend payout ratio is presently 53.13%.

Wall Street Analysts Forecast Growth

AZZ has been the topic of several research analyst reports. Wolfe Research initiated coverage on shares of AZZ in a report on Wednesday, July 31st. They issued a “peer perform” rating on the stock. Baird R W upgraded AZZ to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Robert W. Baird assumed coverage on AZZ in a report on Tuesday, July 23rd. They set a “neutral” rating and a $90.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AZZ currently has an average rating of “Moderate Buy” and a consensus target price of $95.80.

About AZZ

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.