Stifel Financial Corp Has $223,000 Stake in AZZ Inc. (NYSE:AZZ)

Stifel Financial Corp cut its stake in AZZ Inc. (NYSE:AZZ) by 29.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,698 shares of the industrial products company’s stock after selling 1,139 shares during the period. Stifel Financial Corp’s holdings in AZZ were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Delphi Management Inc. MA grew its holdings in shares of AZZ by 11.9% during the second quarter. Delphi Management Inc. MA now owns 23,685 shares of the industrial products company’s stock worth $1,830,000 after buying an additional 2,521 shares in the last quarter. Rhumbline Advisers lifted its position in shares of AZZ by 8.7% in 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 in the last quarter. Federated Hermes Inc. boosted its holdings in AZZ by 81,999.5% during the second quarter. Federated Hermes Inc. now owns 153,526 shares of the industrial products company’s stock worth $11,860,000 after purchasing an additional 153,339 shares during the last quarter. Thrivent Financial for Lutherans grew its position in AZZ by 25.7% in the second quarter. Thrivent Financial for Lutherans now owns 59,716 shares of the industrial products company’s stock valued at $4,613,000 after purchasing an additional 12,226 shares in the last quarter. Finally, Tredje AP fonden acquired a new stake in AZZ in the 2nd quarter valued at $1,700,000. Institutional investors own 90.93% of the company’s stock.

AZZ Stock Performance

NYSE AZZ opened at $82.06 on Monday. The firm has a market capitalization of $2.45 billion, a P/E ratio of 64.11, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. The company has a current ratio of 1.85, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. The firm’s fifty day moving average price is $86.12 and its two-hundred day moving average price is $81.59. AZZ Inc. has a 1 year low of $55.78 and a 1 year high of $97.98.

AZZ (NYSE:AZZ) last issued its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating 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 company had revenue of $409.01 million for the quarter, compared to analysts’ expectations of $409.50 million. During the same period in the prior year, the firm earned $1.27 EPS. AZZ’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, research analysts anticipate that AZZ Inc. will post 5.08 EPS for the current year.

AZZ Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.68 dividend on an annualized basis and a yield of 0.83%. AZZ’s dividend payout ratio (DPR) is currently 53.13%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group increased their price objective 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.80.

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.