Schwab Charles Investment Management Inc. grew its stake in shares of AZZ Inc (NYSE:AZZ) by 9.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,068 shares of the industrial products company’s stock after acquiring an additional 13,993 shares during the period. Schwab Charles Investment Management Inc. owned about 0.65% of AZZ worth $8,234,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Pinebridge Investments L.P. boosted its holdings in shares of AZZ by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,431 shares of the industrial products company’s stock valued at $191,000 after buying an additional 45 shares during the period. Amalgamated Bank boosted its holdings in shares of AZZ by 4.9% in the 2nd quarter. Amalgamated Bank now owns 3,595 shares of the industrial products company’s stock valued at $201,000 after buying an additional 167 shares during the period. Stoneridge Investment Partners LLC acquired a new position in shares of AZZ in the 3rd quarter valued at about $221,000. M&T Bank Corp acquired a new position in shares of AZZ in the 2nd quarter valued at about $238,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of AZZ in the 3rd quarter valued at about $251,000. 88.01% of the stock is owned by institutional investors.
Several research firms have recently commented on AZZ. Stifel Nicolaus reaffirmed a “hold” rating and issued a $56.00 price target on shares of AZZ in a report on Thursday, September 7th. Zacks Investment Research raised shares of AZZ from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th.
AZZ (NYSE:AZZ) last issued its quarterly earnings data on Tuesday, October 3rd. The industrial products company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.09). The firm had revenue of $190.40 million during the quarter, compared to the consensus estimate of $193.70 million. AZZ had a net margin of 6.27% and a return on equity of 9.65%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. equities analysts predict that AZZ Inc will post 1.99 earnings per share for the current year.
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.
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