Bank of Montreal Can bought a new stake in AZZ Inc. (NYSE:AZZ – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,377 shares of the industrial products company’s stock, valued at approximately $582,000. Bank of Montreal Can owned about 0.05% of AZZ as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of AZZ by 4.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,848 shares of the industrial products company’s stock valued at $447,000 after buying an additional 418 shares during the last quarter. LPL Financial LLC raised its holdings in AZZ by 7.7% during the second quarter. LPL Financial LLC now owns 7,399 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 531 shares in the last quarter. Rhumbline Advisers raised its holdings in AZZ by 0.8% during the first quarter. Rhumbline Advisers now owns 74,181 shares of the industrial products company’s stock worth $3,578,000 after purchasing an additional 582 shares in the last quarter. Captrust Financial Advisors raised its holdings in AZZ by 31.5% during the first quarter. Captrust Financial Advisors now owns 2,431 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 583 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in AZZ by 1.8% during the first quarter. Raymond James & Associates now owns 32,875 shares of the industrial products company’s stock worth $1,586,000 after purchasing an additional 595 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on AZZ shares. B. Riley started coverage on shares of AZZ in a report on Wednesday, August 30th. They set a “buy” rating and a $64.00 price target for the company. StockNews.com cut shares of AZZ from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, Noble Financial started coverage on shares of AZZ in a report on Monday, August 21st. They set an “outperform” rating and a $60.00 price target for the company. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.33.
AZZ Trading Down 1.3 %
Shares of AZZ stock opened at $48.89 on Thursday. AZZ Inc. has a 12-month low of $34.59 and a 12-month high of $50.86. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 1.12. The stock has a market cap of $1.23 billion, a PE ratio of 55.56 and a beta of 1.28. The company has a 50-day moving average of $46.49 and a two-hundred day moving average of $43.50.
AZZ (NYSE:AZZ – Get Free Report) last issued its earnings results on Wednesday, October 11th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.19. AZZ had a net margin of 2.49% and a return on equity of 11.94%. The company had revenue of $398.50 million during the quarter, compared to analysts’ expectations of $396.91 million. During the same period last year, the company posted $1.24 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, research analysts anticipate that AZZ Inc. will post 4.09 EPS for the current fiscal year.
AZZ Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th were given a $0.17 dividend. The ex-dividend date was Tuesday, October 17th. This represents a $0.68 annualized dividend and a dividend yield of 1.39%. AZZ’s dividend payout ratio is presently 77.27%.
AZZ Inc provides hot-dip galvanizing and coil coating solutions in the United States, Canada, Brazil, China, the Netherlands, Poland, Singapore, and India. The company operates through AZZ Metal Coatings and AZZ Precoat Metals segments. The AZZ Metal Coatings segment offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries.
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