AZZ Inc. (NYSE:AZZ) Holdings Decreased by Jane Street Group LLC

Jane Street Group LLC decreased its stake in AZZ Inc. (NYSE:AZZ) by 54.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,403 shares of the industrial products company’s stock after selling 27,790 shares during the quarter. Jane Street Group LLC owned approximately 0.08% of AZZ worth $1,933,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in shares of AZZ by 3,790.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock valued at $32,000 after buying an additional 379 shares during the last quarter. Point72 DIFC Ltd bought a new position in AZZ during the second quarter valued at approximately $52,000. CWM LLC lifted its stake in AZZ by 51.2% in the third quarter. CWM LLC now owns 694 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 235 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in AZZ in the second quarter valued at approximately $67,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in AZZ in the second quarter worth approximately $100,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group boosted their price objective on shares of AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.80.

AZZ Stock Performance

AZZ stock opened at $82.72 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. The business’s 50-day moving average price is $85.93 and its two-hundred day moving average price is $81.51. AZZ Inc. has a 1-year low of $55.78 and a 1-year high of $97.98. The firm has a market cap of $2.47 billion, a PE ratio of 64.63, a P/E/G ratio of 1.33 and a beta of 1.30.

AZZ (NYSE:AZZ) last released its quarterly 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. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The firm had revenue of $409.01 million during the quarter, compared to the consensus estimate of $409.50 million. During the same quarter in the prior year, the firm posted $1.27 EPS. The business’s revenue was up 2.6% on a year-over-year basis. As a group, research analysts forecast that AZZ Inc. will post 5.08 earnings per share for the current year.

AZZ Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Friday, October 18th. AZZ’s dividend payout ratio (DPR) is presently 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.