Strs Ohio cut its position in shares of AZZ Inc. (NYSE:AZZ) by 9.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,000 shares of the company’s stock after selling 7,000 shares during the period. Strs Ohio’s holdings in AZZ were worth $4,078,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of AZZ. State Street Corp increased its stake in AZZ by 1.5% in the first quarter. State Street Corp now owns 512,865 shares of the company’s stock worth $29,029,000 after buying an additional 7,440 shares during the last quarter. Hancock Holding Co. increased its stake in AZZ by 0.9% in the first quarter. Hancock Holding Co. now owns 157,365 shares of the company’s stock worth $8,907,000 after buying an additional 1,360 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in 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. Panagora Asset Management Inc. increased its stake in AZZ by 1.7% in the first quarter. Panagora Asset Management Inc. now owns 132,151 shares of the company’s stock worth $7,480,000 after buying an additional 2,205 shares during the last quarter. Finally, Origin Asset Management LLP increased its stake in AZZ by 13.2% in the first quarter. Origin Asset Management LLP now owns 129,075 shares of the company’s stock worth $7,306,000 after buying an additional 15,081 shares during the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AZZ Inc. (NYSE:AZZ) traded up 4.13% during mid-day trading on Thursday, hitting $58.31. 466,395 shares of the stock were exchanged. The company has a 50-day moving average of $64.96 and a 200 day moving average of $60.35. AZZ Inc. has a one year low of $47.04 and a one year high of $67.98. The stock has a market cap of $1.51 billion, a PE ratio of 19.44 and a beta of 1.34.
AZZ (NYSE:AZZ) last announced its earnings results on Wednesday, October 5th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.72 by $0.17. The firm earned $195 million during the quarter, compared to analysts’ expectations of $225.43 million. AZZ had a net margin of 8.50% and a return on equity of 16.95%. AZZ’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 earnings per share. On average, equities analysts predict that AZZ Inc. will post $3.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, October 14th. This is an increase from AZZ’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. AZZ’s dividend payout ratio is 19.93%.
A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of AZZ from a “buy” rating to a “hold” rating in a report on Friday, July 8th. DA Davidson restated a “hold” rating and set a $55.00 price target on shares of AZZ in a report on Wednesday, July 6th. Five research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $60.00.
In other news, Director Wallace P. Eisman bought 1,000 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was acquired at an average cost of $62.27 per share, for a total transaction of $62,270.00. Following the completion of the purchase, the director now owns 4,641 shares of the company’s stock, valued at $288,995.07. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Timothy E. Pendley sold 1,200 shares of the company’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $62.02, for a total transaction of $74,424.00. Following the completion of the transaction, the senior vice president now owns 30,980 shares of the company’s stock, valued at $1,921,379.60. The disclosure for this sale can be found here. 0.01% of the stock is currently owned by insiders.
AZZ Company Profile
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.