Fmr LLC Acquires 385,240 Shares of AZZ Inc. (NYSE:AZZ)

Fmr LLC lifted its holdings in shares of AZZ Inc. (NYSE:AZZ) by 13.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,223,391 shares of the industrial products company’s stock after buying an additional 385,240 shares during the quarter. Fmr LLC owned about 10.79% of AZZ worth $266,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC grew its holdings 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 worth $32,000 after acquiring an additional 379 shares during the period. CWM LLC boosted its position in shares of AZZ by 69.4% in the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 188 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of AZZ during the second quarter worth $52,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in AZZ in the second quarter valued at about $67,000. Finally, 1620 Investment Advisors Inc. acquired a new position in AZZ in the second quarter valued at about $72,000. 90.93% of the stock is owned by institutional investors.

AZZ Price Performance

Shares of AZZ opened at $93.14 on Monday. The stock has a market cap of $2.78 billion, a P/E ratio of 72.77, a price-to-earnings-growth ratio of 1.30 and a beta of 1.25. AZZ Inc. has a 1 year low of $48.19 and a 1 year high of $97.98. The stock’s 50-day moving average price is $82.62 and its two-hundred day moving average price is $80.41. 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 released its quarterly earnings data 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 net margin of 7.63% and a return on equity of 16.88%. The business had revenue of $409.01 million for the quarter, compared to analyst estimates of $409.50 million. During the same quarter last year, the firm earned $1.27 EPS. AZZ’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts predict that AZZ Inc. will post 5.11 earnings per share for the current year.

AZZ Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.73%. The ex-dividend date was Friday, October 18th. AZZ’s payout ratio 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.