nVerses Capital LLC Purchases Shares of 1,400 AZZ Inc. (NYSE:AZZ)

nVerses Capital LLC acquired a new stake in AZZ Inc. (NYSE:AZZ) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,400 shares of the industrial products company’s stock, valued at approximately $116,000.

A number of other hedge funds also recently made changes to their positions in AZZ. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of AZZ in the 1st quarter valued at $32,000. CWM LLC boosted its stake in AZZ by 69.4% during the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 188 shares during the last quarter. Point72 DIFC Ltd bought a new position in AZZ during the 2nd quarter worth approximately $52,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in AZZ during the 2nd quarter worth approximately $67,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in AZZ during the 2nd quarter worth approximately $72,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AZZ. Wolfe Research began coverage on shares of AZZ in a research report on Wednesday, July 31st. They set a “peer perform” rating for the company. Baird R W upgraded AZZ to a “hold” rating in a report on Tuesday, July 23rd. B. Riley upped their price target on AZZ from $89.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Robert W. Baird assumed coverage on shares of AZZ in a report on Tuesday, July 23rd. They set a “neutral” rating and a $90.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.80.

AZZ Stock Down 1.5 %

AZZ stock opened at $78.32 on Monday. The stock has a market cap of $2.34 billion, a P/E ratio of 73.20, a P/E/G ratio of 1.18 and a beta of 1.23. 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 stock’s fifty day simple moving average is $79.52 and its two-hundred day simple moving average is $78.87. AZZ Inc. has a 1-year low of $44.83 and a 1-year high of $88.67.

AZZ (NYSE:AZZ) last announced its quarterly earnings data on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $409.01 million during the quarter, compared to the consensus estimate of $409.50 million. AZZ had a return on equity of 18.19% and a net margin of 7.63%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. Analysts expect that AZZ Inc. will post 4.95 EPS for the current year.

AZZ Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders 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 dividend on an annualized basis and a yield of 0.87%. AZZ’s dividend payout ratio (DPR) is presently 63.55%.

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.