AZZ Inc. (NYSE:AZZ) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in AZZ Inc. (NYSE:AZZ) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,485 shares of the industrial products company’s stock after selling 397 shares during the period. Mutual of America Capital Management LLC’s holdings in AZZ were worth $371,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in AZZ by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,726,037 shares of the industrial products company’s stock valued at $210,750,000 after purchasing an additional 28,609 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of AZZ by 325.3% during the second quarter. Assenagon Asset Management S.A. now owns 122,141 shares of the industrial products company’s stock valued at $9,435,000 after acquiring an additional 93,420 shares during the last quarter. Delphi Management Inc. MA increased its position in AZZ by 11.9% during the 2nd quarter. Delphi Management Inc. MA now owns 23,685 shares of the industrial products company’s stock worth $1,830,000 after purchasing an additional 2,521 shares in the last quarter. Rhumbline Advisers raised its stake in AZZ by 8.7% in the 2nd quarter. Rhumbline Advisers now owns 85,547 shares of the industrial products company’s stock valued at $6,608,000 after purchasing an additional 6,847 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in AZZ by 81,999.5% in the 2nd quarter. Federated Hermes Inc. now owns 153,526 shares of the industrial products company’s stock valued at $11,860,000 after purchasing an additional 153,339 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analysts Set New Price Targets

Separately, Wolfe Research began coverage on AZZ in a report on Wednesday, July 31st. They issued a “peer perform” rating for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.80.

AZZ Price Performance

AZZ stock opened at $91.15 on Thursday. AZZ Inc. has a 1 year low of $48.03 and a 1 year high of $97.98. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85. The firm has a 50 day moving average price of $82.01 and a 200 day moving average price of $80.11. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 71.21, a PEG ratio of 1.33 and a beta of 1.25.

AZZ (NYSE:AZZ) last issued its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $409.01 million for the quarter, compared to analysts’ expectations of $409.50 million. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.27 earnings per share. Sell-side analysts predict that AZZ Inc. will post 5.11 earnings per share for the current year.

AZZ Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, October 18th. AZZ’s payout ratio is currently 53.13%.

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.