13,913 Shares in AZZ Inc. (NYSE:AZZ) Acquired by Seven Eight Capital LP

Seven Eight Capital LP purchased a new position in AZZ Inc. (NYSE:AZZ) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,913 shares of the industrial products company’s stock, valued at approximately $1,075,000.

Several other institutional investors also recently modified their holdings of AZZ. Vanguard Group Inc. grew its holdings in shares of AZZ by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,726,037 shares of the industrial products company’s stock worth $210,750,000 after acquiring an additional 28,609 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of AZZ by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,147,513 shares of the industrial products company’s stock valued at $88,646,000 after purchasing an additional 53,188 shares during the period. Bank of New York Mellon Corp increased its stake in AZZ by 10.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 269,101 shares of the industrial products company’s stock worth $20,788,000 after purchasing an additional 25,714 shares in the last quarter. Norges Bank purchased a new stake in AZZ during the fourth quarter valued at about $9,715,000. Finally, Federated Hermes Inc. boosted its holdings in shares of AZZ by 81,999.5% in the second quarter. Federated Hermes Inc. now owns 153,526 shares of the industrial products company’s stock worth $11,860,000 after buying an additional 153,339 shares during the period. Institutional investors own 90.93% of the company’s stock.

AZZ Price Performance

Shares of NYSE:AZZ opened at $81.89 on Friday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 76.53, a P/E/G ratio of 1.08 and a beta of 1.24. AZZ Inc. has a 1 year low of $43.48 and a 1 year high of $88.67. The company has a current ratio of 1.89, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The business has a fifty day simple moving average of $79.14 and a 200 day simple moving average of $77.95.

AZZ (NYSE:AZZ) last released its quarterly earnings data on Wednesday, July 10th. The industrial products company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.16. The firm 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%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 earnings per share. As a group, sell-side analysts predict that AZZ Inc. will post 4.93 earnings per share for the current fiscal year.

AZZ Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other AZZ news, insider Tara D. Mackey sold 331 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $83.50, for a total transaction of $27,638.50. Following the transaction, the insider now directly owns 34,229 shares in the company, valued at $2,858,121.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, COO Bryan Lee Stovall sold 14,545 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 20,000 shares in the company, valued at approximately $1,695,800. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tara D. Mackey sold 331 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 34,229 shares in the company, valued at approximately $2,858,121.50. The disclosure for this sale can be found here. Over the last three months, insiders acquired 1,511 shares of company stock worth $52,794. Corporate insiders own 2.10% of the company’s stock.

AZZ Company 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.