Algert Global LLC Invests $215,000 in AZZ Inc. (NYSE:AZZ)

Algert Global LLC purchased a new position in AZZ Inc. (NYSE:AZZ) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,783 shares of the industrial products company’s stock, valued at approximately $215,000.

A number of other institutional investors also recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC bought a new stake in AZZ during the second quarter valued at about $487,000. CVI Holdings LLC bought a new position in shares of AZZ during the second quarter valued at approximately $3,182,000. The Manufacturers Life Insurance Company grew its stake in shares of AZZ by 22.1% during the second quarter. The Manufacturers Life Insurance Company now owns 15,972 shares of the industrial products company’s stock valued at $1,234,000 after buying an additional 2,892 shares during the last quarter. Millennium Management LLC grew its stake in shares of AZZ by 1,822.5% during the second quarter. Millennium Management LLC now owns 72,650 shares of the industrial products company’s stock valued at $5,612,000 after buying an additional 68,871 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of AZZ during the second quarter valued at approximately $1,469,000. 90.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Tara D. Mackey sold 331 shares of the firm’s 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 owns 34,229 shares in the company, valued at $2,858,121.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other AZZ news, COO Bryan Lee Stovall sold 14,545 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 20,000 shares of the company’s stock, valued at approximately $1,695,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tara D. Mackey sold 331 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $83.50, for a total value of $27,638.50. Following the sale, the insider now directly owns 34,229 shares in the company, valued at $2,858,121.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

AZZ Stock Down 5.2 %

AZZ stock opened at $77.35 on Friday. AZZ Inc. has a twelve month low of $44.83 and a twelve month high of $88.67. The business has a fifty day moving average of $78.80 and a two-hundred day moving average of $78.74. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 1.36. The firm has a market cap of $2.31 billion, a P/E ratio of 72.29, a P/E/G ratio of 1.18 and a beta of 1.23.

AZZ (NYSE:AZZ) last issued its quarterly earnings data on Wednesday, October 9th. The industrial products company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. AZZ had a return on equity of 17.08% and a net margin of 7.22%. The firm had revenue of $409.01 million during the quarter, compared to analyst estimates of $409.50 million. During the same quarter in the prior year, the business posted $1.27 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts forecast that AZZ Inc. will post 4.93 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid a $0.17 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.68 dividend on an annualized basis and a yield of 0.88%. AZZ’s dividend payout ratio (DPR) is 63.55%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AZZ shares. Wolfe Research started coverage on AZZ in a research note on Wednesday, July 31st. They issued a “peer perform” rating on the stock. Robert W. Baird started coverage on AZZ in a research note on Tuesday, July 23rd. They issued a “neutral” rating and a $90.00 price objective on the stock. B. Riley increased their price objective on AZZ from $89.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Baird R W raised AZZ to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Evercore ISI started coverage on AZZ in a report on Friday, June 14th. They set an “outperform” rating and a $90.00 target price for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $95.80.

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.