Crawford Investment Counsel Inc. lifted its position in AZZ Inc. (NYSE:AZZ – Get Rating) by 40.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,950 shares of the industrial products company’s stock after buying an additional 22,070 shares during the period. Crawford Investment Counsel Inc. owned about 0.31% of AZZ worth $3,712,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in AZZ. Westwood Holdings Group Inc. increased its holdings in shares of AZZ by 22.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 765,874 shares of the industrial products company’s stock worth $42,345,000 after acquiring an additional 138,681 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in AZZ by 7.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,243,000 shares of the industrial products company’s stock worth $59,963,000 after buying an additional 85,083 shares during the period. Gamco Investors INC. ET AL lifted its stake in AZZ by 10.1% in the first quarter. Gamco Investors INC. ET AL now owns 621,147 shares of the industrial products company’s stock valued at $29,964,000 after buying an additional 57,113 shares in the last quarter. TD Asset Management Inc. increased its position in shares of AZZ by 100.0% during the fourth quarter. TD Asset Management Inc. now owns 103,772 shares of the industrial products company’s stock worth $5,738,000 after acquiring an additional 51,886 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of AZZ by 21.7% during the first quarter. JPMorgan Chase & Co. now owns 250,623 shares of the industrial products company’s stock worth $12,090,000 after acquiring an additional 44,626 shares during the period. Institutional investors and hedge funds own 78.92% of the company’s stock.
Insider Buying and Selling
In related news, CEO Thomas E. Ferguson purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was purchased at an average cost of $42.49 per share, for a total transaction of $212,450.00. Following the completion of the purchase, the chief executive officer now directly owns 170,550 shares in the company, valued at $7,246,669.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.72% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
AZZ Trading Up 2.2 %
NYSE AZZ opened at $42.42 on Friday. AZZ Inc. has a 52 week low of $38.00 and a 52 week high of $58.59. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.59 and a current ratio of 2.15. The stock’s 50 day moving average price is $42.53 and its two-hundred day moving average price is $44.84. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 12.33 and a beta of 1.24.
AZZ (NYSE:AZZ – Get Rating) last announced its earnings results on Monday, July 11th. The industrial products company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.03 by $0.37. AZZ had a net margin of 8.69% and a return on equity of 14.76%. The business had revenue of $314.40 million during the quarter, compared to analysts’ expectations of $286.92 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The firm’s revenue was up 36.8% on a year-over-year basis. As a group, analysts anticipate that AZZ Inc. will post 3.83 earnings per share for the current fiscal year.
AZZ Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 2nd. Investors of record on Tuesday, July 19th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Monday, July 18th. AZZ’s dividend payout ratio is currently 19.77%.
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.
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