Truist Financial Corp Has $639,000 Stock Position in AZZ Inc. (NYSE:AZZ)

Truist Financial Corp lowered its stake in AZZ Inc. (NYSE:AZZGet Rating) by 78.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,525 shares of the industrial products company’s stock after selling 62,961 shares during the quarter. Truist Financial Corp’s holdings in AZZ were worth $639,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. SummerHaven Investment Management LLC lifted its stake in shares of AZZ by 13.4% in the 3rd quarter. SummerHaven Investment Management LLC now owns 19,082 shares of the industrial products company’s stock valued at $697,000 after purchasing an additional 2,253 shares during the period. Versor Investments LP acquired a new stake in AZZ during the 2nd quarter worth $527,000. GW Henssler & Associates Ltd. acquired a new stake in AZZ during the 2nd quarter worth $206,000. Caxton Associates LP acquired a new stake in AZZ during the 2nd quarter worth $1,120,000. Finally, Lazard Asset Management LLC acquired a new stake in AZZ during the 2nd quarter worth $216,000. Institutional investors and hedge funds own 88.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AZZ. Stifel Nicolaus downgraded AZZ from a “buy” rating to a “hold” rating and set a $48.00 price objective on the stock. in a research note on Friday, January 13th. Sidoti upgraded AZZ from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a report on Wednesday, October 12th. StockNews.com upgraded AZZ from a “sell” rating to a “hold” rating in a report on Thursday, October 20th. Finally, TheStreet cut AZZ from a “b-” rating to a “c+” rating in a report on Friday, October 14th.

AZZ Price Performance

AZZ stock opened at $40.50 on Monday. The stock has a market cap of $1.01 billion, a PE ratio of -38.57 and a beta of 1.24. The stock has a 50-day moving average price of $40.99 and a two-hundred day moving average price of $40.68. The company has a current ratio of 1.84, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19. AZZ Inc. has a 1 year low of $30.21 and a 1 year high of $50.84.

AZZ (NYSE:AZZGet Rating) last announced its quarterly earnings data on Monday, January 9th. The industrial products company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.05). The company had revenue of $373.30 million during the quarter, compared to the consensus estimate of $359.80 million. AZZ had a negative net margin of 2.46% and a positive return on equity of 15.04%. AZZ’s revenue was up 176.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. Equities analysts forecast that AZZ Inc. will post 4.12 EPS for the current fiscal year.

AZZ Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 7th. Stockholders of record on Monday, January 30th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, January 27th. AZZ’s payout ratio is -64.76%.

About AZZ

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AZZ Inc offers galvanizing and metal coating solutions, welding solutions, specialty electrical equipment, and engineered services to the power generation, transmission, distribution, refining, and industrial markets in the United States and internationally. The company operates through two segments, Infrastructure Solutions and Metal Coatings.

Further Reading

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Institutional Ownership by Quarter for AZZ (NYSE:AZZ)

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