Thrivent Financial for Lutherans Sells 36,302 Shares of AZZ Inc. (NYSE:AZZ)

Thrivent Financial for Lutherans trimmed its position in AZZ Inc. (NYSE:AZZ) by 60.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,414 shares of the industrial products company’s stock after selling 36,302 shares during the quarter. Thrivent Financial for Lutherans’ holdings in AZZ were worth $1,934,000 at the end of the most recent reporting period.

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

AZZ Stock Down 1.3 %

Shares of NYSE AZZ opened at $91.15 on Friday. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 71.21, a PEG ratio of 1.33 and a beta of 1.25. The company has a current ratio of 1.85, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. AZZ Inc. has a 12 month low of $48.03 and a 12 month high of $97.98. The stock has a 50-day moving average price of $82.23 and a two-hundred day moving average price of $80.19.

AZZ (NYSE:AZZ) last released its quarterly earnings data 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. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The business had revenue of $409.01 million during the quarter, compared to analysts’ expectations of $409.50 million. During the same period in the prior year, the company earned $1.27 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, analysts forecast that AZZ Inc. will post 5.11 earnings per share for the current fiscal year.

AZZ Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, October 18th. AZZ’s dividend payout ratio (DPR) is 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.