AZZ Inc. (NYSE:AZZ) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in shares of AZZ Inc. (NYSE:AZZ) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,781 shares of the industrial products company’s stock after selling 10,695 shares during the period. JPMorgan Chase & Co. owned about 0.64% of AZZ worth $15,760,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AZZ. Rhumbline Advisers boosted its stake in shares of AZZ by 8.7% during the second quarter. Rhumbline Advisers now owns 85,547 shares of the industrial products company’s stock valued at $6,608,000 after acquiring an additional 6,847 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of AZZ by 191.6% during the 2nd quarter. Victory Capital Management Inc. now owns 22,789 shares of the industrial products company’s stock valued at $1,760,000 after buying an additional 14,975 shares during the period. Arizona State Retirement System boosted its holdings in AZZ by 12.2% in the second quarter. Arizona State Retirement System now owns 7,733 shares of the industrial products company’s stock valued at $597,000 after purchasing an additional 841 shares during the last quarter. Acadian Asset Management LLC bought a new position in AZZ during the 2nd quarter valued at $116,000. Finally, Texas Permanent School Fund Corp increased its holdings in AZZ by 16.6% in the second quarter. Texas Permanent School Fund Corp now owns 25,599 shares of the industrial products company’s stock valued at $1,978,000 after buying an additional 3,652 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

AZZ Stock Up 0.7 %

AZZ opened at $83.66 on Friday. 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 stock’s fifty day moving average is $87.21 and its 200-day moving average is $81.85. AZZ Inc. has a one year low of $56.49 and a one year high of $97.98. The company has a market capitalization of $2.50 billion, a PE ratio of 65.36, a P/E/G ratio of 1.33 and a beta of 1.30.

AZZ (NYSE:AZZ) last posted its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.10. The firm had revenue of $403.65 million for the quarter, compared to analyst estimates of $394.30 million. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.19 earnings per share. On average, equities analysts predict that AZZ Inc. will post 5.08 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Jefferies Financial Group boosted their price objective on AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.80.

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.