Mutual of America Capital Management LLC Purchases New Stake in AZZ Inc. (NYSE:AZZ)

Mutual of America Capital Management LLC purchased a new stake in shares of AZZ Inc. (NYSE:AZZ) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 4,389 shares of the industrial products company’s stock, valued at approximately $255,000.

Several other institutional investors also recently added to or reduced their stakes in AZZ. Covestor Ltd grew its position in AZZ by 131.5% during the third quarter. Covestor Ltd now owns 903 shares of the industrial products company’s stock valued at $41,000 after buying an additional 513 shares during the period. Victory Capital Management Inc. bought a new position in AZZ during the third quarter worth about $203,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in AZZ by 41.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,789 shares of the industrial products company’s stock worth $218,000 after purchasing an additional 1,398 shares during the period. Beddow Capital Management Inc. bought a new position in AZZ during the fourth quarter worth about $238,000. Finally, Linden Thomas Advisory Services LLC boosted its position in AZZ by 14.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 5,357 shares of the industrial products company’s stock worth $244,000 after purchasing an additional 688 shares during the period. Institutional investors own 90.93% of the company’s stock.

AZZ Stock Up 8.5 %

Shares of NYSE AZZ opened at $83.04 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.96 and a debt-to-equity ratio of 1.06. AZZ Inc. has a 52 week low of $34.59 and a 52 week high of $83.22. The firm’s fifty day moving average is $75.03 and its 200 day moving average is $61.20. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.14 and a beta of 1.28.

AZZ (NYSE:AZZ) last issued its earnings results on Monday, April 22nd. The industrial products company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.70 by $0.23. AZZ had a net margin of 5.63% and a return on equity of 13.15%. The company had revenue of $366.50 million for the quarter, compared to the consensus estimate of $351.67 million. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts expect that AZZ Inc. will post 4.31 earnings per share for the current year.

AZZ Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 2nd. Investors of record on Wednesday, April 17th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Tuesday, April 16th. AZZ’s payout ratio is 24.55%.

Analyst Ratings Changes

AZZ has been the subject of a number of research reports. B. Riley increased their target price on shares of AZZ from $67.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com lowered shares of AZZ from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Noble Financial lowered shares of AZZ from an “outperform” rating to a “market perform” rating and set a $75.00 price objective for the company. in a research report on Friday, March 22nd.

AZZ Profile

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.