AZZ Inc. (NYSE:AZZ) Shares Acquired by State Street Corp

State Street Corp grew its stake in AZZ Inc. (NYSE:AZZ) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,100,189 shares of the industrial products company’s stock after purchasing an additional 27,710 shares during the quarter. State Street Corp’s holdings in AZZ were worth $90,887,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. CWM LLC grew its position in shares of AZZ by 69.4% in the second 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 period. Claro Advisors LLC grew its position in shares of AZZ by 7.7% in the second quarter. Claro Advisors LLC now owns 3,298 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 236 shares during the period. Pullen Investment Management LLC grew its position in shares of AZZ by 3.3% in the second quarter. Pullen Investment Management LLC now owns 11,379 shares of the industrial products company’s stock valued at $879,000 after purchasing an additional 368 shares during the period. Farther Finance Advisors LLC grew its position in shares of AZZ by 3,790.0% in the third 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 during the period. Finally, Hsbc Holdings PLC grew its position in shares of AZZ by 11.5% in the second quarter. Hsbc Holdings PLC now owns 3,971 shares of the industrial products company’s stock valued at $309,000 after purchasing an additional 409 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Stock Performance

AZZ opened at $94.49 on Tuesday. The firm has a market capitalization of $2.82 billion, a PE ratio of 73.82, a PEG ratio of 1.33 and a beta of 1.30. AZZ Inc. has a twelve month low of $53.12 and a twelve month high of $97.98. The firm’s 50-day moving average price is $85.46 and its 200 day moving average price is $81.33. 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 (NYSE:AZZ) last posted its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $409.01 million for the quarter, compared to analyst estimates of $409.50 million. AZZ had a net margin of 7.63% and a return on equity of 16.88%. AZZ’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.27 earnings per share. As a group, sell-side analysts expect that AZZ Inc. will post 5.08 EPS for the current fiscal year.

AZZ Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.68 annualized dividend and a yield of 0.72%. AZZ’s payout ratio is 53.13%.

Analyst Ratings Changes

Separately, Jefferies Financial Group boosted their price target on shares of AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, AZZ currently has an average rating of “Moderate Buy” and an average price target of $96.80.

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.