Segall Bryant & Hamill LLC Has $50.81 Million Stock Position in AZZ Inc. (NYSE:AZZ)

Segall Bryant & Hamill LLC cut its stake in AZZ Inc. (NYSE:AZZ) by 12.7% in the fourth quarter, HoldingsChannel reports. The fund owned 620,202 shares of the industrial products company’s stock after selling 90,017 shares during the period. AZZ accounts for 0.7% of Segall Bryant & Hamill LLC’s holdings, making the stock its 21st largest position. Segall Bryant & Hamill LLC’s holdings in AZZ were worth $50,807,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. US Bancorp DE grew its position in shares of AZZ by 39.0% during the 4th quarter. US Bancorp DE now owns 463 shares of the industrial products company’s stock worth $38,000 after buying an additional 130 shares during the period. Smartleaf Asset Management LLC grew its holdings in AZZ by 202.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 475 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 318 shares during the period. Farther Finance Advisors LLC raised its position in shares of AZZ by 32.4% during the 4th quarter. Farther Finance Advisors LLC now owns 515 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 126 shares during the last quarter. KBC Group NV lifted its stake in shares of AZZ by 50.8% in the 4th quarter. KBC Group NV now owns 1,244 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 419 shares during the period. Finally, Cibc World Markets Corp bought a new position in shares of AZZ in the 4th quarter worth $225,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on AZZ shares. Noble Financial reissued an “outperform” rating on shares of AZZ in a research note on Thursday, March 6th. B. Riley lifted their price objective on shares of AZZ from $99.00 to $111.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Roth Mkm assumed coverage on shares of AZZ in a report on Tuesday, February 11th. They issued a “buy” rating and a $108.00 target price on the stock. Roth Capital raised shares of AZZ to a “strong-buy” rating in a research report on Tuesday, February 11th. Finally, Jefferies Financial Group upped their price objective on shares of AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.67.

AZZ Stock Up 4.6 %

Shares of AZZ stock opened at $86.21 on Tuesday. AZZ Inc. has a 12-month low of $69.59 and a 12-month high of $99.49. The company has a quick ratio of 1.26, a current ratio of 1.77 and a debt-to-equity ratio of 0.85. The firm has a fifty day moving average of $90.53 and a 200-day moving average of $86.03. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 58.25, a P/E/G ratio of 1.32 and a beta of 1.27.

AZZ (NYSE:AZZ) last released its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.10. The firm had revenue of $403.65 million for the quarter, compared to the consensus estimate of $394.30 million. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. As a group, equities research analysts predict that AZZ Inc. will post 5.13 earnings per share for the current fiscal year.

AZZ Dividend Announcement

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

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.