AZZ Inc. (NYSE:AZZ) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in AZZ Inc. (NYSE:AZZ) by 2.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,015 shares of the industrial products company’s stock after selling 424 shares during the period. State of Alaska Department of Revenue’s holdings in AZZ were worth $1,405,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AZZ. CWM LLC raised its position 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 buying an additional 188 shares during the period. Point72 DIFC Ltd acquired a new stake in AZZ during the second quarter worth $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in AZZ in the second quarter valued at $67,000. 1620 Investment Advisors Inc. acquired a new position in shares of AZZ in the 2nd quarter valued at $72,000. Finally, FSC Wealth Advisors LLC grew its holdings in shares of AZZ by 38.6% during the 2nd quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company’s stock worth $73,000 after purchasing an additional 265 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

AZZ has been the topic of a number of recent analyst reports. Baird R W raised shares of AZZ to a “hold” rating in a research report on Tuesday, July 23rd. Wolfe Research began coverage on shares of AZZ in a report on Wednesday, July 31st. They issued a “peer perform” rating on the stock. B. Riley lifted their target price on shares of AZZ from $89.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Robert W. Baird initiated coverage on AZZ in a research note on Tuesday, July 23rd. They set a “neutral” rating and a $90.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.80.

AZZ Price Performance

AZZ stock opened at $77.16 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.85 and a debt-to-equity ratio of 0.91. AZZ Inc. has a 52-week low of $45.85 and a 52-week high of $88.67. The firm has a market cap of $2.31 billion, a PE ratio of 60.28, a price-to-earnings-growth ratio of 1.07 and a beta of 1.25. The company’s 50 day moving average is $79.24 and its two-hundred day moving average is $78.79.

AZZ (NYSE:AZZ) last announced its quarterly earnings data on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.05. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The business had revenue of $409.01 million for the quarter, compared to analysts’ expectations of $409.50 million. During the same period last year, the firm earned $1.27 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts expect that AZZ Inc. will post 5.07 EPS for the current fiscal year.

AZZ Dividend Announcement

The business 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 0.88%. The ex-dividend date was Friday, October 18th. AZZ’s dividend payout ratio is presently 53.13%.

AZZ 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.