Meeder Asset Management Inc. Trims Stock Holdings in AZZ Inc. (NYSE:AZZ)

Meeder Asset Management Inc. cut its holdings in AZZ Inc. (NYSE:AZZGet Rating) by 85.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,007 shares of the industrial products company’s stock after selling 6,026 shares during the period. Meeder Asset Management Inc.’s holdings in AZZ were worth $41,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Teacher Retirement System of Texas lifted its position in AZZ by 6.1% during the 1st quarter. Teacher Retirement System of Texas now owns 5,137 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 295 shares in the last quarter. Comerica Bank raised its holdings in shares of AZZ by 1.5% during the first quarter. Comerica Bank now owns 22,045 shares of the industrial products company’s stock valued at $1,055,000 after acquiring an additional 317 shares during the period. Money Concepts Capital Corp increased its position in AZZ by 11.7% in the 2nd quarter. Money Concepts Capital Corp now owns 5,054 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 531 shares during the last quarter. GHP Investment Advisors Inc. acquired a new position in AZZ during the 1st quarter worth $27,000. Finally, Rhumbline Advisers raised its holdings in AZZ by 0.8% in the 1st quarter. Rhumbline Advisers now owns 74,181 shares of the industrial products company’s stock valued at $3,578,000 after acquiring an additional 582 shares in the last quarter. 78.92% of the stock is currently owned by hedge funds and other institutional investors.

AZZ Stock Up 0.4 %

AZZ stock opened at $41.41 on Monday. The business has a fifty day moving average price of $38.65 and a 200-day moving average price of $41.67. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.88 and a quick ratio of 1.47. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 53.78 and a beta of 1.26. AZZ Inc. has a 1-year low of $30.21 and a 1-year high of $57.66.

AZZ Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th were paid a $0.17 dividend. The ex-dividend date was Monday, October 17th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.64%. AZZ’s payout ratio is presently 88.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AZZ shares. TheStreet cut AZZ from a “b-” rating to a “c+” rating in a research note on Friday, October 14th. Sidoti raised AZZ from a “neutral” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Wednesday, October 12th. Stifel Nicolaus dropped their price objective on AZZ from $62.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, September 20th. Finally, StockNews.com raised shares of AZZ from a “sell” rating to a “hold” rating in a report on Thursday, October 20th.

Insider Activity at AZZ

In other news, COO Kurt L. Russell acquired 3,000 shares of AZZ stock in a transaction that occurred on Friday, October 14th. The stock was purchased at an average cost of $34.89 per share, with a total value of $104,670.00. Following the completion of the acquisition, the chief operating officer now owns 3,000 shares in the company, valued at approximately $104,670. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Ken Lavelle bought 2,000 shares of the business’s stock in a transaction on Monday, October 17th. The shares were bought at an average cost of $34.68 per share, for a total transaction of $69,360.00. Following the completion of the purchase, the insider now owns 24,361 shares of the company’s stock, valued at approximately $844,839.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Kurt L. Russell acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, October 14th. The shares were bought at an average price of $34.89 per share, for a total transaction of $104,670.00. Following the completion of the purchase, the chief operating officer now owns 3,000 shares of the company’s stock, valued at $104,670. The disclosure for this purchase can be found here. 1.72% of the stock is owned by corporate insiders.

AZZ Company Profile

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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.

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Institutional Ownership by Quarter for AZZ (NYSE:AZZ)

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