871 Shares in AZZ Inc. (NYSE:AZZ) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AZZ Inc. (NYSE:AZZ) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 871 shares of the industrial products company’s stock, valued at approximately $67,000.

Other large investors have also modified their holdings of the company. Financial Synergies Wealth Advisors Inc. purchased a new position in AZZ during the 1st quarter worth approximately $32,000. CWM LLC raised its position in AZZ by 69.4% during the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock valued at $35,000 after buying an additional 188 shares during the period. Point72 DIFC Ltd purchased a new stake in AZZ in the 2nd quarter worth about $52,000. 1620 Investment Advisors Inc. acquired a new stake in AZZ during the 2nd quarter worth about $72,000. Finally, FSC Wealth Advisors LLC grew its stake in AZZ by 38.6% during the 2nd 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 in the last quarter. 90.93% of the stock is owned by institutional investors.

AZZ Stock Up 2.9 %

AZZ stock opened at $82.54 on Friday. AZZ Inc. has a fifty-two week low of $43.48 and a fifty-two week high of $88.67. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.89 and a quick ratio of 1.28. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 77.14, a PEG ratio of 1.18 and a beta of 1.23. The business’s fifty day moving average price is $78.75 and its two-hundred day moving average price is $78.63.

AZZ (NYSE:AZZ) last released its earnings results on Wednesday, July 10th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.16. AZZ had a return on equity of 17.08% and a net margin of 7.22%. The company had revenue of $413.21 million for the quarter, compared to analyst estimates of $403.25 million. During the same period in the prior year, the firm posted $1.14 EPS. AZZ’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that AZZ Inc. will post 4.93 earnings per share for the current year.

AZZ Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.17 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.68 annualized dividend and a dividend yield of 0.82%. AZZ’s dividend payout ratio is currently 63.55%.

Insider Activity at AZZ

In other 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 transaction of $1,233,270.55. Following the completion of the sale, the chief operating officer now owns 20,000 shares in the company, valued at $1,695,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Tara D. Mackey sold 331 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $83.50, for a total transaction of $27,638.50. Following the completion of the transaction, the insider now owns 34,229 shares in the company, valued at approximately $2,858,121.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Bryan Lee Stovall sold 14,545 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were 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 owns 20,000 shares in the company, valued at approximately $1,695,800. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AZZ has been the subject of several recent research reports. Noble Financial raised AZZ from a “market perform” rating to an “outperform” rating and set a $95.00 price target for the company in a research note on Tuesday, June 11th. Robert W. Baird started coverage on AZZ in a research report on Tuesday, July 23rd. They issued a “neutral” rating and a $90.00 price objective for the company. B. Riley raised their target price on AZZ from $89.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Evercore ISI began coverage on shares of AZZ in a report on Friday, June 14th. They issued an “outperform” rating and a $90.00 price target on the stock. Finally, Wolfe Research began coverage on shares of AZZ in a report on Wednesday, July 31st. They set a “peer perform” rating for the company. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.80.

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.