AZZ Inc. (NYSE:AZZ) Stake Lifted by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its holdings in AZZ Inc. (NYSE:AZZ) by 3,790.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 389 shares of the industrial products company’s stock after acquiring an additional 379 shares during the quarter. Farther Finance Advisors LLC’s holdings in AZZ were worth $32,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp lifted its stake in AZZ by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 21,947 shares of the industrial products company’s stock valued at $1,697,000 after acquiring an additional 284 shares during the last quarter. QRG Capital Management Inc. acquired a new position in AZZ in the first quarter worth $210,000. Russell Investments Group Ltd. raised its stake in shares of AZZ by 253.0% in the first quarter. Russell Investments Group Ltd. now owns 2,026 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 1,452 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of AZZ by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 5,010 shares of the industrial products company’s stock valued at $387,000 after buying an additional 344 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its position in AZZ by 56.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,097 shares of the industrial products company’s stock valued at $858,000 after purchasing an additional 4,010 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Baird R W raised shares of AZZ to a “hold” rating in a research report on Tuesday, July 23rd. Robert W. Baird began coverage on AZZ in a research note on Tuesday, July 23rd. They issued a “neutral” rating and a $90.00 price target on the stock. Finally, Wolfe Research initiated coverage on AZZ in a research note on Wednesday, July 31st. They set a “peer perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, AZZ has an average rating of “Moderate Buy” and a consensus target price of $95.80.

AZZ Stock Performance

NYSE AZZ opened at $83.83 on Friday. AZZ Inc. has a 1 year low of $48.03 and a 1 year high of $88.67. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 65.49, a P/E/G ratio of 1.18 and a beta of 1.25. 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 firm’s 50 day simple moving average is $79.77 and its 200 day simple moving average is $79.19.

AZZ (NYSE:AZZ) last issued its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $409.50 million. During the same quarter last year, the business posted $1.27 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. As a group, research analysts expect that AZZ Inc. will post 5.11 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.17 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.81%. AZZ’s dividend payout ratio (DPR) is currently 53.13%.

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.