Wrapmanager Inc. Purchases Shares of 2,251 AZZ Inc. $AZZ

Wrapmanager Inc. bought a new position in shares of AZZ Inc. (NYSE:AZZ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,251 shares of the industrial products company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in AZZ during the second quarter worth $11,701,000. Westwood Holdings Group Inc. lifted its position in shares of AZZ by 19.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 650,072 shares of the industrial products company’s stock valued at $54,353,000 after acquiring an additional 105,723 shares during the period. Nuveen LLC acquired a new stake in shares of AZZ in the 1st quarter worth approximately $8,772,000. Speece Thorson Capital Group Inc. acquired a new position in AZZ during the second quarter worth $7,909,000. Finally, Jane Street Group LLC boosted its position in AZZ by 185.9% during the first quarter. Jane Street Group LLC now owns 51,122 shares of the industrial products company’s stock worth $4,274,000 after purchasing an additional 33,238 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AZZ. Wall Street Zen downgraded shares of AZZ from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. Zacks Research lowered shares of AZZ from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Wells Fargo & Company dropped their price objective on shares of AZZ from $128.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Robert W. Baird lifted their target price on shares of AZZ from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, August 15th. Finally, B. Riley increased their price target on AZZ from $131.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $115.43.

AZZ Stock Up 0.5%

Shares of NYSE AZZ opened at $98.08 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.73. AZZ Inc. has a 1 year low of $70.90 and a 1 year high of $119.95. The stock’s 50-day simple moving average is $105.54 and its 200-day simple moving average is $102.45. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 9.43 and a beta of 1.29.

AZZ (NYSE:AZZ) last issued its quarterly earnings data on Tuesday, May 9th. The industrial products company reported $0.56 earnings per share for the quarter. The firm had revenue of $129.87 million during the quarter. AZZ had a return on equity of 15.01% and a net margin of 19.69%. As a group, equities analysts anticipate that AZZ Inc. will post 5.13 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, October 16th. AZZ’s dividend payout ratio (DPR) is currently 7.69%.

AZZ Profile

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.