Hsbc Holdings PLC Buys 409 Shares of AZZ Inc. (NYSE:AZZ)

Hsbc Holdings PLC grew its stake in shares of AZZ Inc. (NYSE:AZZ) by 11.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,971 shares of the industrial products company’s stock after purchasing an additional 409 shares during the quarter. Hsbc Holdings PLC’s holdings in AZZ were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in shares of AZZ by 16.2% during the second quarter. Amalgamated Bank now owns 9,044 shares of the industrial products company’s stock worth $699,000 after buying an additional 1,260 shares in the last quarter. Tredje AP fonden acquired a new stake in AZZ in the 2nd quarter worth about $1,700,000. Renaissance Technologies LLC boosted its holdings in AZZ by 514.9% in the 2nd quarter. Renaissance Technologies LLC now owns 53,500 shares of the industrial products company’s stock valued at $4,133,000 after purchasing an additional 44,800 shares during the period. Dimensional Fund Advisors LP grew its position in shares of AZZ by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,147,513 shares of the industrial products company’s stock worth $88,646,000 after purchasing an additional 53,188 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of AZZ by 81,999.5% during the second quarter. Federated Hermes Inc. now owns 153,526 shares of the industrial products company’s stock worth $11,860,000 after purchasing an additional 153,339 shares during the period. Institutional investors own 90.93% of the company’s stock.

AZZ Trading Down 0.5 %

AZZ opened at $80.23 on Friday. The company has a market cap of $2.39 billion, a P/E ratio of 74.90, a PEG ratio of 1.18 and a beta of 1.23. The company has a current ratio of 1.89, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The company’s 50 day moving average is $78.74 and its 200-day moving average is $78.62. AZZ Inc. has a 1-year low of $43.48 and a 1-year high of $88.67.

AZZ (NYSE:AZZ) last posted its earnings results on Wednesday, July 10th. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.16. AZZ had a net margin of 7.22% and a return on equity of 17.08%. The firm had revenue of $413.21 million for the quarter, compared to analysts’ expectations of $403.25 million. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. Equities research analysts predict that AZZ Inc. will post 4.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Bryan Lee Stovall sold 14,545 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were 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 owns 20,000 shares of the company’s stock, valued at $1,695,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Tara D. Mackey sold 331 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $83.50, for a total transaction of $27,638.50. Following the sale, the insider now owns 34,229 shares in the company, valued at approximately $2,858,121.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Bryan Lee Stovall sold 14,545 shares of AZZ stock in a transaction that occurred 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 sale, the chief operating officer now owns 20,000 shares of the company’s stock, valued at $1,695,800. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AZZ. Evercore ISI initiated 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. Baird R W raised AZZ to a “hold” rating in a report on Tuesday, July 23rd. Robert W. Baird began coverage on shares of AZZ in a research report on Tuesday, July 23rd. They set a “neutral” rating and a $90.00 price objective for the company. Wolfe Research started coverage on shares of AZZ in a research note on Wednesday, July 31st. They set a “peer perform” rating on the stock. Finally, B. Riley boosted their target price on shares of AZZ from $89.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Four equities 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.80.

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.