AZZ Inc. (NYSE:AZZ) Position Lessened by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in AZZ Inc. (NYSE:AZZ) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,781 shares of the industrial products company’s stock after selling 10,695 shares during the period. JPMorgan Chase & Co.’s holdings in AZZ were worth $15,760,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Rhumbline Advisers boosted its position in AZZ by 8.7% during the second quarter. Rhumbline Advisers now owns 85,547 shares of the industrial products company’s stock worth $6,608,000 after purchasing an additional 6,847 shares during the period. Victory Capital Management Inc. raised its holdings in shares of AZZ by 191.6% in the 2nd quarter. Victory Capital Management Inc. now owns 22,789 shares of the industrial products company’s stock worth $1,760,000 after buying an additional 14,975 shares in the last quarter. Arizona State Retirement System raised its stake in shares of AZZ by 12.2% in the second quarter. Arizona State Retirement System now owns 7,733 shares of the industrial products company’s stock valued at $597,000 after acquiring an additional 841 shares during the last quarter. Acadian Asset Management LLC bought a new stake in AZZ during the 2nd quarter worth about $116,000. Finally, Texas Permanent School Fund Corp raised its position in AZZ by 16.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 25,599 shares of the industrial products company’s stock worth $1,978,000 after purchasing an additional 3,652 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Trading Up 0.7 %

AZZ opened at $83.66 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85. AZZ Inc. has a twelve month low of $56.49 and a twelve month high of $97.98. The firm’s fifty day moving average is $87.21 and its two-hundred day moving average is $81.85. The firm has a market cap of $2.50 billion, a PE ratio of 65.36, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30.

AZZ (NYSE:AZZ) last posted its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.29 by $0.10. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The business had revenue of $403.65 million for the quarter, compared to analysts’ expectations of $394.30 million. During the same period in the previous year, the firm posted $1.19 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that AZZ Inc. will post 5.08 EPS for the current year.

Analyst Upgrades and Downgrades

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 note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, AZZ presently has a consensus 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.