Flagship Harbor Advisors LLC Buys Shares of 2,845 AZZ Inc. (NYSE:AZZ)

Flagship Harbor Advisors LLC purchased a new position in shares of AZZ Inc. (NYSE:AZZFree Report) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,845 shares of the industrial products company’s stock, valued at approximately $233,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in AZZ by 3,790.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 379 shares during the period. Point72 DIFC Ltd bought a new position in shares of AZZ in the 2nd quarter worth $52,000. CWM LLC grew its stake in shares of AZZ by 51.2% during the third quarter. CWM LLC now owns 694 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 235 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in AZZ in the second quarter valued at about $67,000. Finally, nVerses Capital LLC bought a new position in AZZ during the third quarter worth about $116,000. 90.93% of the stock is owned by institutional investors.

AZZ Trading Up 0.2 %

NYSE:AZZ opened at $86.10 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.77 and a quick ratio of 1.26. The business’s 50-day simple moving average is $88.07 and its 200-day simple moving average is $82.78. AZZ Inc. has a fifty-two week low of $62.08 and a fifty-two week high of $97.98. The stock has a market capitalization of $2.57 billion, a PE ratio of 58.18, a price-to-earnings-growth ratio of 1.22 and a beta of 1.30.

AZZ (NYSE:AZZGet Free Report) last announced its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.10. AZZ had a net margin of 7.94% and a return on equity of 16.99%. The firm had revenue of $403.65 million for the quarter, compared to analyst estimates of $394.30 million. During the same quarter in the previous year, the firm posted $1.19 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that AZZ Inc. will post 5.13 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, January 30th. AZZ’s dividend payout ratio is 45.95%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group upped their price target on AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Four investment 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 has an average rating of “Moderate Buy” and an average target price of $96.80.

Check Out Our Latest Stock Report on AZZ

About AZZ

(Free Report)

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.

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Institutional Ownership by Quarter for AZZ (NYSE:AZZ)

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