Millennium Management LLC Grows Holdings in AZZ Inc. (NYSE:AZZ)

Millennium Management LLC boosted its position in shares of AZZ Inc. (NYSE:AZZ) by 1,822.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,650 shares of the industrial products company’s stock after acquiring an additional 68,871 shares during the period. Millennium Management LLC’s holdings in AZZ were worth $5,612,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AZZ. Financial Synergies Wealth Advisors Inc. bought a new stake in AZZ in the 1st quarter valued at $32,000. CWM LLC boosted its stake in AZZ by 69.4% during the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock valued at $35,000 after buying an additional 188 shares during the last quarter. Point72 DIFC Ltd purchased a new position in AZZ during the 2nd quarter valued at approximately $52,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in AZZ in the 2nd quarter worth approximately $67,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of AZZ during the 2nd quarter worth approximately $72,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AZZ. Wolfe Research started coverage on shares of AZZ in a report on Wednesday, July 31st. They issued a “peer perform” rating for the company. Robert W. Baird began coverage on shares of AZZ in a report on Tuesday, July 23rd. They issued a “neutral” rating and a $90.00 target price on the stock. Baird R W raised shares of AZZ to a “hold” rating in a report on Tuesday, July 23rd. B. Riley upped their price objective on AZZ from $89.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Evercore ISI began coverage on AZZ in a research note on Friday, June 14th. They issued an “outperform” rating and a $90.00 price objective for the company. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, AZZ currently has a consensus rating of “Moderate Buy” and an average price target of $95.80.

Insider Buying and Selling

In other AZZ news, COO Bryan Lee Stovall sold 14,545 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $84.79, for a total value of $1,233,270.55. Following the transaction, the chief operating officer now directly owns 20,000 shares in the company, valued at $1,695,800. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AZZ news, COO Bryan Lee Stovall sold 14,545 shares of AZZ stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $84.79, for a total transaction of $1,233,270.55. Following the completion of the sale, the chief operating officer now directly owns 20,000 shares of the company’s stock, valued at $1,695,800. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tara D. Mackey sold 331 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $83.50, for a total value of $27,638.50. Following the completion of the sale, the insider now owns 34,229 shares of the company’s stock, valued at $2,858,121.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

AZZ Stock Up 0.8 %

Shares of NYSE AZZ opened at $77.88 on Friday. AZZ Inc. has a 1 year low of $44.83 and a 1 year high of $88.67. The firm has a 50-day simple moving average of $78.87 and a two-hundred day simple moving average of $78.76. The company has a market cap of $2.32 billion, a P/E ratio of 60.84, a PEG ratio of 1.18 and a beta of 1.23. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.89 and a quick ratio of 1.28.

AZZ (NYSE:AZZ) last issued its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $409.01 million during the quarter, compared to analyst estimates of $409.50 million. AZZ had a return on equity of 18.19% and a net margin of 7.63%. AZZ’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $1.27 EPS. Research analysts anticipate that AZZ Inc. will post 4.95 earnings per share for the current year.

AZZ Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Friday, October 18th. AZZ’s payout ratio is presently 53.13%.

AZZ Company Profile

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.