Nordea Investment Management AB Buys 354 Shares of AZZ Inc. $AZZ

Nordea Investment Management AB boosted its stake in AZZ Inc. (NYSE:AZZ) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,998 shares of the industrial products company’s stock after acquiring an additional 354 shares during the period. Nordea Investment Management AB owned 0.32% of AZZ worth $8,964,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in AZZ in the first quarter valued at approximately $338,000. Flagship Harbor Advisors LLC raised its stake in shares of AZZ by 16.6% in the first quarter. Flagship Harbor Advisors LLC now owns 3,316 shares of the industrial products company’s stock valued at $277,000 after buying an additional 471 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of AZZ by 8.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 53,131 shares of the industrial products company’s stock valued at $4,442,000 after buying an additional 3,931 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of AZZ by 5.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 16,501 shares of the industrial products company’s stock worth $1,380,000 after acquiring an additional 849 shares during the period. Finally, Smith Group Asset Management LLC increased its holdings in AZZ by 356.1% in the 1st quarter. Smith Group Asset Management LLC now owns 28,336 shares of the industrial products company’s stock worth $2,369,000 after acquiring an additional 22,124 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

Insider Transactions at AZZ

In other AZZ news, insider Kurt L. Russell sold 10,321 shares of AZZ stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $112.21, for a total transaction of $1,158,119.41. Following the completion of the sale, the insider directly owned 16,804 shares in the company, valued at $1,885,576.84. The trade was a 38.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Bryan Lee Stovall sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $111.60, for a total transaction of $558,000.00. Following the completion of the transaction, the chief operating officer directly owned 22,709 shares of the company’s stock, valued at approximately $2,534,324.40. This represents a 18.04% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AZZ. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of AZZ in a report on Wednesday, October 8th. Wall Street Zen cut shares of AZZ from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. Evercore ISI raised their price objective on shares of AZZ from $90.00 to $108.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Wells Fargo & Company lowered their target price on shares of AZZ from $128.00 to $121.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Finally, Zacks Research lowered AZZ from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.43.

AZZ Stock Performance

AZZ stock opened at $98.17 on Tuesday. AZZ Inc. has a 1-year low of $70.90 and a 1-year high of $119.95. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $2.95 billion, a PE ratio of 9.44 and a beta of 1.30. The firm’s 50 day simple moving average is $110.90 and its 200 day simple moving average is $100.09.

AZZ (NYSE:AZZ) last released its quarterly earnings results on Tuesday, May 9th. The industrial products company reported $0.56 EPS for the quarter. The firm had revenue of $129.87 million during the quarter. AZZ had a net margin of 19.69% and a return on equity of 15.01%. As a group, analysts expect that AZZ Inc. will post 5.13 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. AZZ’s dividend payout ratio (DPR) is presently 7.69%.

AZZ Company Profile

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.