AZZ Inc. (NYSE:AZZ) Stake Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in shares of AZZ Inc. (NYSE:AZZ) by 54.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,240 shares of the industrial products company’s stock after acquiring an additional 12,451 shares during the quarter. Victory Capital Management Inc. owned approximately 0.12% of AZZ worth $2,911,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AZZ. Russell Investments Group Ltd. grew its stake in shares of AZZ by 253.0% in the 1st quarter. Russell Investments Group Ltd. now owns 2,026 shares of the industrial products company’s stock valued at $157,000 after buying an additional 1,452 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in AZZ by 56.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,097 shares of the industrial products company’s stock worth $858,000 after purchasing an additional 4,010 shares during the last quarter. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 28,609 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in AZZ by 6.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 21,669 shares of the industrial products company’s stock worth $1,674,000 after purchasing an additional 1,284 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in AZZ by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,074 shares of the industrial products company’s stock worth $2,016,000 after purchasing an additional 875 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research began coverage on AZZ in a report on Wednesday, July 31st. They issued a “peer perform” rating for the company. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.80.

AZZ Stock Up 0.1 %

AZZ opened at $95.54 on Friday. AZZ Inc. has a twelve month low of $48.03 and a twelve month high of $96.85. The firm has a market cap of $2.85 billion, a P/E ratio of 74.64, a price-to-earnings-growth ratio of 1.34 and a beta of 1.25. The business has a 50 day moving average price of $81.43 and a 200 day moving average price of $79.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85.

AZZ (NYSE:AZZ) last issued its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 EPS for the quarter, topping 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 company had revenue of $409.01 million during the quarter, compared to analyst estimates of $409.50 million. During the same period in the previous year, the company earned $1.27 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts forecast that AZZ Inc. will post 5.11 EPS for the current year.

AZZ Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, October 18th. AZZ’s dividend payout ratio is presently 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.