Swiss National Bank raised its stake in AZZ Inc (NYSE:AZZ) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,100 shares of the industrial products company’s stock after acquiring an additional 1,200 shares during the quarter. Swiss National Bank owned approximately 0.19% of AZZ worth $2,302,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in AZZ by 39.0% during the 4th quarter. Victory Capital Management Inc. now owns 705,513 shares of the industrial products company’s stock valued at $29,109,000 after buying an additional 197,833 shares during the period. Assenagon Asset Management S.A. bought a new stake in AZZ during the 4th quarter valued at about $2,552,000. FMR LLC increased its stake in AZZ by 6.2% during the 1st quarter. FMR LLC now owns 716,433 shares of the industrial products company’s stock valued at $29,324,000 after purchasing an additional 41,567 shares in the last quarter. California Public Employees Retirement System increased its stake in AZZ by 53.0% during the 4th quarter. California Public Employees Retirement System now owns 109,474 shares of the industrial products company’s stock valued at $5,030,000 after purchasing an additional 37,932 shares in the last quarter. Finally, Man Group plc bought a new stake in AZZ during the 3rd quarter valued at about $1,036,000. Hedge funds and other institutional investors own 86.88% of the company’s stock.
Shares of NYSE AZZ traded up $0.26 during trading on Wednesday, reaching $36.37. 466 shares of the company traded hands, compared to its average volume of 143,552. The firm has a 50 day simple moving average of $42.47 and a 200-day simple moving average of $41.88. The company has a quick ratio of 1.62, a current ratio of 2.27 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $982.42 million, a PE ratio of 14.03 and a beta of 1.40. AZZ Inc has a 52-week low of $35.81 and a 52-week high of $50.36.
AZZ (NYSE:AZZ) last announced its quarterly earnings results on Thursday, January 9th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.84. The firm had revenue of $291.10 million for the quarter, compared to the consensus estimate of $271.31 million. AZZ had a net margin of 6.65% and a return on equity of 10.79%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. As a group, research analysts predict that AZZ Inc will post 2.69 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, January 31st. AZZ’s payout ratio is 34.69%.
A number of research firms have weighed in on AZZ. TheStreet lowered shares of AZZ from a “b-” rating to a “c+” rating in a research note on Friday, February 28th. Zacks Investment Research lowered shares of AZZ from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 22nd. Finally, ValuEngine upgraded shares of AZZ from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd.
AZZ Company Profile
AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.
Further Reading: Cash Flow
Want to see what other hedge funds are holding AZZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AZZ Inc (NYSE:AZZ).
Receive News & Ratings for AZZ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AZZ and related companies with MarketBeat.com's FREE daily email newsletter.