Amalgamated Bank Raises Stake in AZZ Inc. (NYSE:AZZ)

Amalgamated Bank lifted its position in shares of AZZ Inc. (NYSE:AZZ) by 16.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,044 shares of the industrial products company’s stock after purchasing an additional 1,260 shares during the quarter. Amalgamated Bank’s holdings in AZZ were worth $699,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of AZZ during the 1st quarter worth about $32,000. CWM LLC grew its holdings in shares of AZZ by 69.4% during the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 188 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of AZZ during the 2nd quarter worth about $72,000. FSC Wealth Advisors LLC grew its holdings in shares of AZZ by 38.6% during the 2nd quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company’s stock worth $73,000 after purchasing an additional 265 shares during the period. Finally, Crewe Advisors LLC acquired a new position in AZZ during the 1st quarter worth approximately $77,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Insider Buying and Selling

In related news, COO Bryan Lee Stovall sold 14,545 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $84.79, for a total transaction of $1,233,270.55. Following the completion of the transaction, the chief operating officer now directly owns 20,000 shares in the company, valued at approximately $1,695,800. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, COO Bryan Lee Stovall sold 14,545 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $84.79, for a total value of $1,233,270.55. Following the completion of the transaction, the chief operating officer now owns 20,000 shares of the company’s stock, valued at $1,695,800. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tara D. Mackey sold 331 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $83.50, for a total value of $27,638.50. Following the completion of the transaction, the insider now directly owns 34,229 shares of the company’s stock, valued at approximately $2,858,121.50. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on AZZ shares. Baird R W raised AZZ to a “hold” rating in a research report on Tuesday, July 23rd. Evercore ISI started coverage on AZZ in a research report on Friday, June 14th. They set an “outperform” rating and a $90.00 price target on the stock. Noble Financial raised AZZ from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research report on Tuesday, June 11th. Robert W. Baird started coverage on AZZ in a research report on Tuesday, July 23rd. They set a “neutral” rating and a $90.00 price target on the stock. Finally, Wolfe Research started coverage on AZZ in a research report on Wednesday, July 31st. They set a “peer perform” rating on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $95.80.

AZZ Stock Performance

Shares of AZZ opened at $82.29 on Friday. The business’s 50 day moving average is $78.82 and its two-hundred day moving average is $78.43. AZZ Inc. has a 52-week low of $43.48 and a 52-week high of $88.67. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 76.91, a PEG ratio of 1.18 and a beta of 1.24. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 1.36.

AZZ (NYSE:AZZ) last posted its quarterly earnings results on Wednesday, July 10th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.16. The business had revenue of $413.21 million for the quarter, compared to analyst estimates of $403.25 million. AZZ had a return on equity of 17.08% and a net margin of 7.22%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 EPS. Analysts forecast that AZZ Inc. will post 4.93 EPS for the current fiscal year.

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.