Quest Partners LLC Makes New Investment in AZZ Inc. (NYSE:AZZ)

Quest Partners LLC bought a new position in shares of AZZ Inc. (NYSE:AZZ) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 7,402 shares of the industrial products company’s stock, valued at approximately $611,000.

A number of other large investors have also made changes to their positions in AZZ. CWM LLC grew its position in AZZ by 69.4% during the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after buying an additional 188 shares during the period. Claro Advisors LLC grew its holdings in shares of AZZ by 7.7% in the 2nd quarter. Claro Advisors LLC now owns 3,298 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 236 shares during the period. FSC Wealth Advisors LLC increased its stake in AZZ by 38.6% in the 2nd quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 265 shares in the last quarter. ProShare Advisors LLC raised its holdings in AZZ by 7.4% during the first quarter. ProShare Advisors LLC now owns 5,010 shares of the industrial products company’s stock worth $387,000 after purchasing an additional 344 shares during the last quarter. Finally, Pullen Investment Management LLC boosted its position in AZZ by 3.3% during the second quarter. Pullen Investment Management LLC now owns 11,379 shares of the industrial products company’s stock worth $879,000 after purchasing an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analysts Set New Price Targets

Separately, Wolfe Research initiated coverage on AZZ in a research report on Wednesday, July 31st. They issued a “peer perform” rating for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.80.

AZZ Trading Up 0.1 %

AZZ stock opened at $95.54 on Friday. The stock has a 50-day moving average price of $81.43 and a 200 day moving average price of $79.83. AZZ Inc. has a 52 week low of $48.03 and a 52 week high of $96.85. The stock has a market cap of $2.85 billion, a PE ratio of 74.64, a P/E/G ratio of 1.22 and a beta of 1.25. The company has a current ratio of 1.85, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91.

AZZ (NYSE:AZZ) last announced its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $409.01 million for the quarter, compared to analyst estimates of $409.50 million. AZZ had a net margin of 7.63% and a return on equity of 16.88%. AZZ’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.27 earnings per share. Equities research analysts predict that AZZ Inc. will post 5.11 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.68 annualized dividend and a yield of 0.71%. AZZ’s dividend payout ratio (DPR) is presently 53.13%.

AZZ Company 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.