Truist Financial Corp Sells 62,961 Shares of AZZ Inc. (NYSE:AZZ)

Truist Financial Corp trimmed its holdings in shares of AZZ Inc. (NYSE:AZZ – Get Rating) by 78.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 17,525 shares of the industrial products company’s stock after selling 62,961 shares during the period. Truist Financial Corp owned approximately 0.07% of AZZ worth $639,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Texas Permanent School Fund lifted its holdings in shares of AZZ by 1.9% during the 2nd quarter. Texas Permanent School Fund now owns 17,844 shares of the industrial products company’s stock worth $728,000 after acquiring an additional 338 shares during the period. Money Concepts Capital Corp lifted its holdings in shares of AZZ by 11.7% during the 2nd quarter. Money Concepts Capital Corp now owns 5,054 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 531 shares during the period. Rhumbline Advisers lifted its holdings in shares of AZZ by 0.8% during the 1st quarter. Rhumbline Advisers now owns 74,181 shares of the industrial products company’s stock worth $3,578,000 after acquiring an additional 582 shares during the period. Captrust Financial Advisors lifted its holdings in shares of AZZ by 31.5% during the 1st quarter. Captrust Financial Advisors now owns 2,431 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 583 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of AZZ by 16.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 4,146 shares of the industrial products company’s stock worth $169,000 after acquiring an additional 587 shares during the period. 88.47% of the stock is owned by institutional investors.

AZZ Stock Performance

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

AZZ (NYSE:AZZ – Get Rating) last posted 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 analyst estimates of $359.80 million. AZZ had a negative net margin of 2.46% and a positive return on equity of 15.04%. The company’s revenue was up 176.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. As a group, equities analysts anticipate that AZZ Inc. will post 4.12 earnings per share for the current fiscal year.

AZZ Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus cut shares of AZZ from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a research report on Friday, January 13th. StockNews.com upgraded shares of AZZ from a “sell” rating to a “hold” rating in a research report on Thursday, October 20th. TheStreet cut shares of AZZ from a “b-” rating to a “c+” rating in a research report on Friday, October 14th. Finally, Sidoti upgraded shares of AZZ from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Wednesday, October 12th.

AZZ 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.