By otakuyassine3@gmail.com 
KLP Kapitalforvaltning AS bought a new position in AZZ Inc. (NYSE:AZZ – Free Report) during the fourth quarter, HoldingsChannel reports. The firm bought 5,800 shares of the industrial products company’s stock, valued at approximately $475,000.
Other hedge funds have also bought and sold shares of the company. US Bancorp DE lifted its stake in shares of AZZ by 39.0% in the fourth quarter. US Bancorp DE now owns 463 shares of the industrial products company’s stock valued at $38,000 after buying an additional 130 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of AZZ by 202.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 475 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 318 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of AZZ by 32.4% in the 4th quarter. Farther Finance Advisors LLC now owns 515 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 126 shares during the last quarter. KBC Group NV lifted its position in AZZ by 50.8% in the 4th quarter. KBC Group NV now owns 1,244 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 419 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in AZZ during the 4th quarter valued at about $225,000. Institutional investors and hedge funds own 90.93% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on AZZ shares. Noble Financial reissued an “outperform” rating on shares of AZZ in a research note on Thursday, March 6th. Jefferies Financial Group increased their price target on AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 6th. B. Riley lifted their price objective on shares of AZZ from $99.00 to $111.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Roth Capital upgraded shares of AZZ to a “strong-buy” rating in a report on Tuesday, February 11th. Finally, Roth Mkm assumed coverage on shares of AZZ in a report on Tuesday, February 11th. They set a “buy” rating and a $108.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AZZ presently has an average rating of “Moderate Buy” and an average target price of $100.67.
View Our Latest Stock Analysis on AZZ
AZZ Trading Down 7.6 %
NYSE AZZ opened at $80.90 on Friday. The business’s fifty day moving average is $90.14 and its 200-day moving average is $86.43. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.77 and a quick ratio of 1.26. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 54.66, a PEG ratio of 1.32 and a beta of 1.22. AZZ Inc. has a one year low of $69.59 and a one year high of $99.49.
AZZ (NYSE:AZZ – Get Free Report) last posted its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.10. The business had revenue of $403.65 million during the quarter, compared to the consensus estimate of $394.30 million. AZZ had a net margin of 7.94% and a return on equity of 16.99%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.19 earnings per share. Equities research analysts predict that AZZ Inc. will post 5.13 EPS for the current year.
AZZ Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, January 30th were issued a $0.17 dividend. The ex-dividend date of this dividend was Thursday, January 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.84%. AZZ’s dividend payout ratio (DPR) is presently 45.95%.
About AZZ
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.
See Also
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