Geode Capital Management LLC Buys 10,072 Shares of AZZ Inc. (NYSE:AZZ)

Geode Capital Management LLC grew its stake in shares of AZZ Inc. (NYSE:AZZ) by 1.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 675,603 shares of the industrial products company’s stock after acquiring an additional 10,072 shares during the period. Geode Capital Management LLC’s holdings in AZZ were worth $55,823,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AZZ. Farther Finance Advisors LLC raised its position in AZZ by 3,790.0% during 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. Point72 DIFC Ltd purchased a new stake in AZZ in the second quarter worth about $52,000. CWM LLC grew its holdings in AZZ by 51.2% during the 3rd quarter. CWM LLC now owns 694 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 235 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in AZZ during the 2nd quarter valued at about $67,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of AZZ in the 2nd quarter valued at about $100,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lifted their price objective on shares of AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.80.

AZZ Trading Up 0.1 %

NYSE:AZZ opened at $81.66 on Monday. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 63.80, a PEG ratio of 1.33 and a beta of 1.30. AZZ Inc. has a 52 week low of $54.67 and a 52 week high of $97.98. The company has a quick ratio of 1.32, a current ratio of 1.85 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average of $85.85 and a 200 day moving average of $81.42.

AZZ (NYSE:AZZ) last announced its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share for the quarter, topping 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 firm had revenue of $409.01 million for the quarter, compared to the consensus estimate of $409.50 million. During the same period in the previous year, the business earned $1.27 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that AZZ Inc. will post 5.08 earnings per share 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 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 dividend yield of 0.83%. AZZ’s dividend payout ratio (DPR) 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.