AZZ Inc (AZZ) Holdings Boosted by Northern Trust Corp

Northern Trust Corp boosted its position in AZZ Inc (NYSE:AZZ) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 366,902 shares of the industrial products company’s stock after buying an additional 14,322 shares during the quarter. Northern Trust Corp owned 1.41% of AZZ worth $15,941,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Xact Kapitalforvaltning AB lifted its holdings in AZZ by 27.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 5,537 shares of the industrial products company’s stock worth $242,000 after buying an additional 1,200 shares in the last quarter. Rhumbline Advisers lifted its holdings in AZZ by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 66,254 shares of the industrial products company’s stock worth $2,879,000 after buying an additional 1,894 shares in the last quarter. Legal & General Group Plc lifted its holdings in AZZ by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 54,826 shares of the industrial products company’s stock worth $2,372,000 after buying an additional 2,590 shares in the last quarter. Sheets Smith Wealth Management lifted its holdings in AZZ by 46.5% in the 2nd quarter. Sheets Smith Wealth Management now owns 10,625 shares of the industrial products company’s stock worth $462,000 after buying an additional 3,373 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. lifted its holdings in AZZ by 4.4% in the 2nd quarter. Eagle Boston Investment Management Inc. now owns 91,618 shares of the industrial products company’s stock worth $3,980,000 after buying an additional 3,835 shares in the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Shares of AZZ stock opened at $45.66 on Friday. The stock has a market capitalization of $1.19 billion, a PE ratio of 39.03 and a beta of 1.41. The company has a current ratio of 3.14, a quick ratio of 2.13 and a debt-to-equity ratio of 0.50. AZZ Inc has a 1 year low of $39.50 and a 1 year high of $56.05.

AZZ (NYSE:AZZ) last issued its earnings results on Tuesday, October 9th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.04). The company had revenue of $222.80 million during the quarter, compared to analyst estimates of $224.50 million. AZZ had a net margin of 5.63% and a return on equity of 5.43%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. Sell-side analysts forecast that AZZ Inc will post 2.2 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Tuesday, October 16th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, October 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.49%. AZZ’s dividend payout ratio (DPR) is presently 50.37%.

In related news, insider Thomas E. Ferguson bought 5,000 shares of the business’s stock in a transaction dated Monday, October 22nd. The shares were acquired at an average price of $45.77 per share, for a total transaction of $228,850.00. Following the purchase, the insider now owns 62,099 shares in the company, valued at approximately $2,842,271.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Matthew Varley Emery sold 844 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $54.05, for a total transaction of $45,618.20. Following the sale, the insider now directly owns 7,523 shares of the company’s stock, valued at approximately $406,618.15. The disclosure for this sale can be found here. Corporate insiders own 0.01% of the company’s stock.

A number of brokerages have commented on AZZ. Sidoti upgraded shares of AZZ from a “neutral” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Monday, October 29th. TheStreet lowered shares of AZZ from a “b-” rating to a “c+” rating in a report on Monday, October 8th. ValuEngine lowered shares of AZZ from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Zacks Investment Research lowered shares of AZZ from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 11th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. AZZ currently has an average rating of “Hold” and a consensus target price of $54.33.

About AZZ

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.

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Institutional Ownership by Quarter for AZZ (NYSE:AZZ)

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