Jane Street Group LLC Sells 27,790 Shares of AZZ Inc. (NYSE:AZZ)

Jane Street Group LLC reduced its position in shares of AZZ Inc. (NYSE:AZZ) by 54.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,403 shares of the industrial products company’s stock after selling 27,790 shares during the quarter. Jane Street Group LLC’s holdings in AZZ were worth $1,933,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP bought a new stake in shares of AZZ during the 3rd quarter worth $61,139,000. FMR LLC lifted its holdings in AZZ by 13.6% during the 3rd quarter. FMR LLC now owns 3,223,391 shares of the industrial products company’s stock worth $266,284,000 after buying an additional 385,240 shares during the period. Federated Hermes Inc. lifted its stake in shares of AZZ by 81,999.5% in the second quarter. Federated Hermes Inc. now owns 153,526 shares of the industrial products company’s stock worth $11,860,000 after acquiring an additional 153,339 shares during the period. Millennium Management LLC boosted its stake in shares of AZZ by 1,822.5% in the 2nd quarter. Millennium Management LLC now owns 72,650 shares of the industrial products company’s stock valued at $5,612,000 after purchasing an additional 68,871 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in AZZ during the second quarter valued at $4,969,000. 90.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group lifted their price objective on shares of AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, AZZ has a consensus rating of “Moderate Buy” and a consensus target price of $96.80.

AZZ Stock Performance

Shares of AZZ stock opened at $82.72 on Wednesday. The firm has a market capitalization of $2.47 billion, a P/E ratio of 64.63, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. The company has a current ratio of 1.85, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. The business’s fifty day simple moving average is $85.93 and its 200 day simple moving average is $81.51. AZZ Inc. has a 12 month low of $55.78 and a 12 month high of $97.98.

AZZ (NYSE:AZZ) last released its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The firm had revenue of $409.01 million for the quarter, compared to analysts’ expectations of $409.50 million. During the same period in the previous year, the company earned $1.27 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, analysts anticipate that AZZ Inc. will post 5.08 EPS for the current year.

AZZ Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.82%. The ex-dividend date was Friday, October 18th. 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.