JPMorgan Chase & Co. boosted its stake in shares of AZZ Inc. (NYSE:AZZ) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,826 shares of the company’s stock after buying an additional 100 shares during the period. JPMorgan Chase & Co. owned about 0.06% of AZZ worth $1,009,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in AZZ. Origin Asset Management LLP raised its stake in shares of AZZ by 13.2% in the first quarter. Origin Asset Management LLP now owns 129,075 shares of the company’s stock valued at $7,306,000 after buying an additional 15,081 shares in the last quarter. Kennedy Capital Management Inc. increased its position in shares of AZZ by 0.9% in the first quarter. Kennedy Capital Management Inc. now owns 72,073 shares of the company’s stock worth $4,079,000 after buying an additional 671 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of AZZ by 111.5% in the first quarter. Goldman Sachs Group Inc. now owns 156,409 shares of the company’s stock worth $8,853,000 after buying an additional 82,461 shares during the last quarter. BlackRock Group LTD increased its position in shares of AZZ by 8.3% in the first quarter. BlackRock Group LTD now owns 36,090 shares of the company’s stock worth $2,043,000 after buying an additional 2,763 shares during the last quarter. Finally, I.G. Investment Management LTD. increased its position in shares of AZZ by 1.9% in the second quarter. I.G. Investment Management LTD. now owns 15,947 shares of the company’s stock worth $957,000 after buying an additional 292 shares during the last quarter. 83.80% of the stock is owned by hedge funds and other institutional investors.
Shares of AZZ Inc. (NYSE:AZZ) traded up 0.28% during trading on Friday, hitting $53.30. The stock had a trading volume of 94,718 shares. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 19.68 and a beta of 1.34. AZZ Inc. has a one year low of $47.04 and a one year high of $67.98. The stock’s 50-day moving average price is $59.59 and its 200 day moving average price is $60.12.
AZZ (NYSE:AZZ) last released its quarterly earnings results on Wednesday, October 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.17. AZZ had a net margin of 7.88% and a return on equity of 15.84%. The firm had revenue of $195 million for the quarter, compared to the consensus estimate of $225.43 million. During the same quarter last year, the company earned $0.67 earnings per share. The firm’s revenue was down 9.0% on a year-over-year basis. On average, equities analysts forecast that AZZ Inc. will post $3.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, October 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from AZZ’s previous quarterly dividend of $0.15. AZZ’s dividend payout ratio is currently 25.00%.
A number of equities analysts have commented on the company. Zacks Investment Research downgraded AZZ from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. DA Davidson restated a “hold” rating and issued a $55.00 target price on shares of AZZ in a research note on Wednesday, July 6th.
In related news, Director Venita Mccellon-Allen acquired 5,000 shares of the business’s stock in a transaction dated Monday, October 17th. The stock was acquired at an average price of $53.91 per share, with a total value of $269,550.00. Following the completion of the transaction, the director now owns 6,641 shares of the company’s stock, valued at $358,016.31. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert Joseph Steines acquired 1,000 shares of the business’s stock in a transaction dated Thursday, October 13th. The shares were bought at an average cost of $54.54 per share, with a total value of $54,540.00. Following the transaction, the vice president now directly owns 2,625 shares of the company’s stock, valued at approximately $143,167.50. The disclosure for this purchase can be found here. Insiders own 0.01% of the company’s stock.
AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.