Empowered Funds LLC Lowers Stock Holdings in AZZ Inc. (NYSE:AZZ)

Empowered Funds LLC reduced its position in AZZ Inc. (NYSE:AZZ) by 84.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,213 shares of the industrial products company’s stock after selling 17,080 shares during the quarter. Empowered Funds LLC’s holdings in AZZ were worth $265,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of AZZ. Farther Finance Advisors LLC boosted its stake in AZZ by 3,790.0% in the third quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock worth $32,000 after buying an additional 379 shares in the last quarter. CWM LLC grew its holdings in shares of AZZ by 69.4% during the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 188 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of AZZ during the 2nd quarter valued at $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in AZZ in the 2nd quarter worth $67,000. Finally, 1620 Investment Advisors Inc. bought a new stake in AZZ in the second quarter worth $72,000. 90.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research initiated coverage on AZZ in a research note on Wednesday, July 31st. They issued a “peer perform” rating for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, AZZ currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.80.

AZZ Stock Down 0.2 %

Shares of NYSE:AZZ opened at $95.33 on Tuesday. The stock’s 50-day moving average is $81.76 and its 200 day moving average is $80.01. The company has a market cap of $2.85 billion, a PE ratio of 74.48, a P/E/G ratio of 1.34 and a beta of 1.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.85 and a quick ratio of 1.32. AZZ Inc. has a 1 year low of $48.03 and a 1 year high of $97.98.

AZZ (NYSE:AZZ) last announced its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. The company 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 16.88% and a net margin of 7.63%. The firm’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 earnings per share. Sell-side analysts anticipate that AZZ Inc. will post 5.11 EPS for the current 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 paid 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 payout ratio is 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.