Assenagon Asset Management S.A. increased its position in shares of AZZ Inc. (NYSE:AZZ – Free Report) by 23.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 22,715 shares of the industrial products company’s stock after purchasing an additional 4,315 shares during the quarter. Assenagon Asset Management S.A.’s holdings in AZZ were worth $1,861,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. CWM LLC increased its position in shares of AZZ by 51.2% during the third quarter. CWM LLC now owns 694 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 235 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of AZZ by 3,790.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 379 shares during the period. Hsbc Holdings PLC increased its holdings in AZZ by 11.5% in the 2nd quarter. Hsbc Holdings PLC now owns 3,971 shares of the industrial products company’s stock valued at $309,000 after purchasing an additional 409 shares during the last quarter. Riverwater Partners LLC raised its position in AZZ by 2.8% in the third quarter. Riverwater Partners LLC now owns 15,155 shares of the industrial products company’s stock valued at $1,222,000 after purchasing an additional 413 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in AZZ during the second quarter worth $52,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Jefferies Financial Group lifted their price objective on AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, AZZ has a consensus rating of “Moderate Buy” and a consensus target price of $96.80.
AZZ Stock Performance
NYSE:AZZ opened at $87.90 on Friday. AZZ Inc. has a 52 week low of $59.72 and a 52 week high of $97.98. The company has a fifty day simple moving average of $88.02 and a two-hundred day simple moving average of $82.52. The company has a quick ratio of 1.26, a current ratio of 1.77 and a debt-to-equity ratio of 0.85. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 59.39, a price-to-earnings-growth ratio of 1.25 and a beta of 1.30.
AZZ (NYSE:AZZ – Get Free Report) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.29 by $0.10. The firm had revenue of $403.65 million during the quarter, compared to analysts’ expectations of $394.30 million. AZZ had a return on equity of 16.99% and a net margin of 7.94%. AZZ’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 EPS. As a group, equities analysts anticipate that AZZ Inc. will post 5.13 earnings per share for the current fiscal year.
AZZ Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, January 30th will be issued a $0.17 dividend. The ex-dividend date is Thursday, January 30th. This represents a $0.68 annualized dividend and a yield of 0.77%. AZZ’s dividend payout ratio (DPR) is 45.95%.
About AZZ
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.
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