Chicago Equity Partners LLC acquired a new position in shares of AZZ Inc (NYSE:AZZ) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 66,220 shares of the industrial products company’s stock, valued at approximately $3,344,000. Chicago Equity Partners LLC owned approximately 0.25% of AZZ as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp bought a new stake in shares of AZZ during the 2nd quarter worth approximately $213,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of AZZ during the 2nd quarter worth approximately $239,000. Xact Kapitalforvaltning AB increased its holdings in shares of AZZ by 27.7% during the 1st quarter. Xact Kapitalforvaltning AB now owns 5,537 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 1,200 shares during the last quarter. Capital Fund Management S.A. acquired a new position in shares of AZZ during the 2nd quarter worth approximately $308,000. Finally, Sheets Smith Wealth Management increased its holdings in shares of AZZ by 46.5% during the 2nd quarter. Sheets Smith Wealth Management now owns 10,625 shares of the industrial products company’s stock worth $462,000 after acquiring an additional 3,373 shares during the last quarter. Institutional investors own 91.72% of the company’s stock.
Shares of NYSE AZZ opened at $47.48 on Friday. The company has a current ratio of 3.14, a quick ratio of 2.13 and a debt-to-equity ratio of 0.50. AZZ Inc has a one year low of $39.50 and a one year high of $56.05. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 35.17 and a beta of 1.41.
AZZ (NYSE:AZZ) last issued its quarterly earnings data on Tuesday, October 9th. The industrial products company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.04). AZZ had a net margin of 5.63% and a return on equity of 5.43%. The firm had revenue of $222.80 million during the quarter, compared to analyst estimates of $224.50 million. During the same period in the prior year, the company earned $0.32 earnings per share. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. Equities analysts forecast that AZZ Inc will post 2.2 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Monday, October 15th. AZZ’s dividend payout ratio is 50.37%.
In other news, insider Thomas E. Ferguson acquired 5,000 shares of the firm’s stock in a transaction on Monday, October 22nd. The shares were purchased at an average cost of $45.77 per share, with a total value of $228,850.00. Following the acquisition, the insider now directly owns 62,099 shares in the company, valued at approximately $2,842,271.23. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Paul Wesley Fehlman acquired 1,000 shares of the firm’s stock in a transaction on Monday, October 22nd. The stock was purchased at an average cost of $45.48 per share, for a total transaction of $45,480.00. Following the completion of the acquisition, the chief financial officer now owns 12,755 shares in the company, valued at $580,097.40. The disclosure for this purchase can be found here. Corporate insiders own 0.01% of the company’s stock.
A number of research analysts recently weighed in on the company. ValuEngine lowered AZZ from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. TheStreet lowered AZZ from a “b-” rating to a “c+” rating in a report on Monday, October 8th. Sidoti raised AZZ from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Monday, October 29th. Finally, Zacks Investment Research lowered AZZ from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 11th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $54.33.
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AZZ Company Profile
AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.
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