Charles Schwab Investment Management Inc. Cuts Stock Holdings in AZZ Inc. (NYSE:AZZ)

Charles Schwab Investment Management Inc. decreased its position in shares of AZZ Inc. (NYSE:AZZ) by 1.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 402,486 shares of the industrial products company’s stock after selling 6,772 shares during the period. Charles Schwab Investment Management Inc.’s holdings in AZZ were worth $33,249,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in shares of AZZ by 3,790.0% during the third quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock valued at $32,000 after buying an additional 379 shares during the last quarter. CWM LLC grew its holdings in shares of AZZ by 69.4% during the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock valued at $35,000 after buying an additional 188 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in AZZ in the second quarter worth approximately $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in AZZ in the second quarter worth approximately $67,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in AZZ in the second quarter worth approximately $72,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

AZZ Trading Down 2.0 %

Shares of AZZ stock opened at $93.80 on Wednesday. AZZ Inc. has a 12-month low of $50.04 and a 12-month high of $97.98. 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 firm’s 50 day moving average is $82.91 and its 200 day moving average is $80.56. The stock has a market capitalization of $2.80 billion, a P/E ratio of 73.28, a P/E/G ratio of 1.34 and a beta of 1.30.

AZZ (NYSE:AZZ) last issued its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.05. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The company had revenue of $409.01 million for the quarter, compared to analysts’ expectations of $409.50 million. During the same quarter last year, the company posted $1.27 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Research analysts expect that AZZ Inc. will post 5.11 earnings per share for the current year.

AZZ Announces Dividend

The business also recently announced 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 0.72%. The ex-dividend date of this dividend was Friday, October 18th. AZZ’s dividend payout ratio is currently 53.13%.

About AZZ

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.