Versor Investments LP Decreases Holdings in AZZ Inc. (NYSE:AZZ)

Versor Investments LP lessened its stake in shares of AZZ Inc. (NYSE:AZZ) by 12.9% in the 3rd quarter, Holdings Channel reports. The firm owned 6,100 shares of the industrial products company’s stock after selling 900 shares during the period. Versor Investments LP’s holdings in AZZ were worth $504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. increased its stake in AZZ by 81,999.5% during the 2nd quarter. Federated Hermes Inc. now owns 153,526 shares of the industrial products company’s stock worth $11,860,000 after buying an additional 153,339 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of AZZ during the second quarter worth approximately $8,443,000. Assenagon Asset Management S.A. lifted its holdings in AZZ by 325.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 122,141 shares of the industrial products company’s stock valued at $9,435,000 after purchasing an additional 93,420 shares in the last quarter. Millennium Management LLC boosted its stake in AZZ by 1,822.5% during the 2nd quarter. Millennium Management LLC now owns 72,650 shares of the industrial products company’s stock worth $5,612,000 after purchasing an additional 68,871 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of AZZ during the second quarter worth $4,969,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

AZZ Trading Down 0.6 %

Shares of AZZ stock opened at $84.08 on Thursday. The stock has a 50 day moving average of $79.60 and a 200 day moving average of $79.16. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 65.69, a PEG ratio of 1.18 and a beta of 1.25. AZZ Inc. has a fifty-two week low of $47.77 and a fifty-two week high of $88.67.

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

AZZ Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.17 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.68 annualized dividend and a dividend yield of 0.81%. AZZ’s dividend payout ratio is currently 53.13%.

Analyst Ratings Changes

Several research firms have recently weighed in on AZZ. Wolfe Research started coverage on shares of AZZ in a research note on Wednesday, July 31st. They issued a “peer perform” rating on the stock. Robert W. Baird initiated coverage on AZZ in a report on Tuesday, July 23rd. They set a “neutral” rating and a $90.00 target price on the stock. B. Riley increased their price target on AZZ from $89.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Baird R W upgraded AZZ to a “hold” rating in a report on Tuesday, July 23rd. 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, AZZ has an average 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.