Nordea Investment Management AB Buys Shares of 94,436 AZZ Inc. (NYSE:AZZ)

Nordea Investment Management AB purchased a new position in shares of AZZ Inc. (NYSE:AZZ) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 94,436 shares of the industrial products company’s stock, valued at approximately $7,798,000. Nordea Investment Management AB owned about 0.32% of AZZ at the end of the most recent reporting period.

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

AZZ Stock Performance

AZZ opened at $82.97 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. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 64.82, a PEG ratio of 1.33 and a beta of 1.30. The company has a fifty day moving average of $87.21 and a 200 day moving average of $81.85. AZZ Inc. has a fifty-two week low of $55.78 and a fifty-two week high of $97.98.

AZZ (NYSE:AZZ) last issued its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.10. The firm had revenue of $403.65 million during the quarter, compared to analyst estimates of $394.30 million. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 earnings per share. As a group, sell-side analysts forecast that AZZ Inc. will post 5.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.80.

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.