Principal Financial Group Inc. boosted its position in AZZ Inc. (NYSE:AZZ) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,790 shares of the company’s stock after buying an additional 5,566 shares during the period. Principal Financial Group Inc. owned 0.72% of AZZ worth $11,264,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. increased its stake in shares of AZZ by 12.7% in the second quarter. Advisors Asset Management Inc. now owns 1,737 shares of the company’s stock worth $104,000 after buying an additional 196 shares in the last quarter. BlackRock Inc. increased its stake in shares of AZZ by 131.3% in the first quarter. BlackRock Inc. now owns 1,876 shares of the company’s stock worth $106,000 after buying an additional 1,065 shares in the last quarter. Stanley Laman Group Ltd. bought a new stake in shares of AZZ during the second quarter worth about $208,000. Teacher Retirement System of Texas increased its stake in shares of AZZ by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 3,600 shares of the company’s stock worth $216,000 after buying an additional 444 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. bought a new stake in shares of AZZ during the second quarter worth about $462,000. Institutional investors own 84.08% of the company’s stock.
Shares of AZZ Inc. (NYSE:AZZ) opened at 54.60 on Thursday. AZZ Inc. has a one year low of $47.04 and a one year high of $67.98. The firm has a market cap of $1.42 billion, a P/E ratio of 20.16 and a beta of 1.34. The firm has a 50 day moving average price of $63.62 and a 200-day moving average price of $60.31.
AZZ (NYSE:AZZ) last posted its quarterly earnings results on Wednesday, October 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by $0.17. The company earned $195 million during the quarter, compared to the consensus estimate of $225.43 million. AZZ had a return on equity of 15.84% and a net margin of 7.88%. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the firm posted $0.67 EPS. Analysts forecast that AZZ Inc. will post $3.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, October 14th. This is a boost from AZZ’s previous quarterly dividend of $0.15. AZZ’s payout ratio is 22.06%.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded AZZ from a “hold” rating to a “strong sell” rating in a research report on Friday, October 7th. DA Davidson reissued a “hold” rating and set a $55.00 price target on shares of AZZ in a research report on Wednesday, July 6th.
In other AZZ news, insider Thomas E. Ferguson bought 7,500 shares of the stock in a transaction on Monday, October 10th. The shares were acquired at an average price of $55.24 per share, with a total value of $414,300.00. Following the acquisition, the insider now directly owns 29,276 shares of the company’s stock, valued at approximately $1,617,206.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Wallace P. Eisman bought 1,000 shares of the stock in a transaction on Friday, July 15th. The shares were acquired at an average cost of $62.27 per share, for a total transaction of $62,270.00. Following the acquisition, the director now directly owns 4,641 shares in the company, valued at $288,995.07. The disclosure for this purchase can be found here. 0.01% of the stock is currently owned by corporate insiders.
AZZ Company Profile