3,600 Shares in AZZ Inc. $AZZ Bought by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd purchased a new stake in AZZ Inc. (NYSE:AZZ) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,600 shares of the industrial products company’s stock, valued at approximately $340,000.

Several other institutional investors have also added to or reduced their stakes in the business. SG Capital Management LLC acquired a new position in shares of AZZ during the second quarter valued at about $16,818,000. Allspring Global Investments Holdings LLC acquired a new position in AZZ during the 2nd quarter valued at approximately $11,701,000. Westwood Holdings Group Inc. increased its stake in 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 purchasing an additional 105,723 shares in the last quarter. Nuveen LLC purchased a new position in shares of AZZ in the first quarter worth $8,772,000. Finally, Speece Thorson Capital Group Inc. acquired a new stake in shares of AZZ during the second quarter worth $7,909,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Trading Up 3.5%

Shares of AZZ opened at $102.93 on Friday. AZZ Inc. has a 52-week low of $70.90 and a 52-week high of $119.95. The stock has a market cap of $3.09 billion, a PE ratio of 9.90 and a beta of 1.29. The firm’s fifty day moving average is $103.86 and its two-hundred day moving average is $102.84. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.44.

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

AZZ Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th were given a $0.20 dividend. The ex-dividend date was Thursday, October 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. AZZ’s dividend payout ratio is 7.69%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AZZ shares. Zacks Research downgraded AZZ from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Robert W. Baird increased their price objective on AZZ from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, August 15th. Wells Fargo & Company decreased their target price on AZZ from $128.00 to $121.00 and set an “overweight” rating for the company in a report on Friday, October 10th. Wall Street Zen lowered AZZ from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of AZZ in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.43.

About AZZ

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.