Vanguard Group Inc Boosts Holdings in AZZ Inc (AZZ)

Vanguard Group Inc raised its stake in AZZ Inc (NYSE:AZZ) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,547,625 shares of the industrial products company’s stock after acquiring an additional 51,830 shares during the quarter. Vanguard Group Inc owned about 9.78% of AZZ worth $128,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Quantbot Technologies LP bought a new position in shares of AZZ in the 3rd quarter valued at about $178,000. United Services Automobile Association bought a new position in shares of AZZ in the 3rd quarter valued at about $202,000. Laurion Capital Management LP bought a new position in shares of AZZ in the 3rd quarter valued at about $217,000. Crossmark Global Holdings Inc. bought a new position in shares of AZZ in the 3rd quarter valued at about $219,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of AZZ in the 3rd quarter valued at about $281,000. Hedge funds and other institutional investors own 89.69% of the company’s stock.

AZZ stock opened at $45.47 on Monday. AZZ Inc has a fifty-two week low of $37.43 and a fifty-two week high of $56.05. The company has a market cap of $1.16 billion, a P/E ratio of 33.68 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.13 and a current ratio of 2.87.

AZZ (NYSE:AZZ) last released its quarterly earnings data on Tuesday, January 8th. The industrial products company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02). AZZ had a return on equity of 7.98% and a net margin of 7.12%. The firm had revenue of $239.50 million for the quarter, compared to the consensus estimate of $238.96 million. AZZ’s revenue for the quarter was up 15.0% on a year-over-year basis. Analysts expect that AZZ Inc will post 2.16 EPS for the current fiscal year.

In related news, CFO Paul Wesley Fehlman purchased 1,000 shares of the business’s stock in a transaction on Monday, October 22nd. The shares were purchased at an average price of $45.48 per share, with a total value of $45,480.00. Following the completion of the purchase, the chief financial officer now owns 12,755 shares in the company, valued at approximately $580,097.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas E. Ferguson purchased 5,000 shares of the business’s stock in a transaction on Monday, October 22nd. The stock was bought at an average cost of $45.77 per share, for a total transaction of $228,850.00. Following the purchase, the insider now owns 62,099 shares of the company’s stock, valued at approximately $2,842,271.23. The disclosure for this purchase can be found here. 0.01% of the stock is owned by company insiders.

Several brokerages have recently issued reports on AZZ. TheStreet lowered shares of AZZ from a “b-” rating to a “c+” rating in a research note on Monday, October 8th. ValuEngine lowered shares of AZZ from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th. Stifel Nicolaus reissued a “hold” rating and set a $52.00 price objective on shares of AZZ in a research note on Tuesday, December 11th. Sidoti raised shares of AZZ from a “neutral” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Monday, October 29th. Finally, Zacks Investment Research lowered shares of AZZ from a “hold” rating to a “sell” rating in a research note on Wednesday, December 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $55.33.

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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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