Louisiana State Employees Retirement System raised its stake in shares of AZZ Inc. (NYSE:AZZ) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,500 shares of the company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in AZZ were worth $690,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in AZZ. BlackRock Inc. increased its position in shares of AZZ by 131.3% in the first quarter. BlackRock Inc. now owns 1,876 shares of the company’s stock valued at $106,000 after buying an additional 1,065 shares during the period. BlackRock Group LTD increased its position in AZZ by 8.3% in the first quarter. BlackRock Group LTD now owns 36,090 shares of the company’s stock worth $2,043,000 after buying an additional 2,763 shares during the last quarter. Menta Capital LLC purchased a new position in AZZ during the first quarter worth about $691,000. State Street Corp increased its position in AZZ by 1.5% in the first quarter. State Street Corp now owns 512,865 shares of the company’s stock worth $29,029,000 after buying an additional 7,440 shares during the last quarter. Finally, AXA increased its position in AZZ by 35.4% in the first quarter. AXA now owns 62,400 shares of the company’s stock worth $3,532,000 after buying an additional 16,300 shares during the last quarter. 84.08% of the stock is currently owned by institutional investors.
Shares of AZZ Inc. (NYSE:AZZ) traded up 0.83% during midday trading on Wednesday, hitting $54.70. The company had a trading volume of 423,137 shares. The company has a 50-day moving average of $63.96 and a 200 day moving average of $60.35. AZZ Inc. has a 12 month low of $47.04 and a 12 month high of $67.98. The firm has a market capitalization of $1.42 billion, a PE ratio of 20.19 and a beta of 1.34.
AZZ (NYSE:AZZ) last announced its quarterly earnings data on Wednesday, October 5th. The company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.17. AZZ had a return on equity of 15.84% and a net margin of 7.88%. The company had revenue of $195 million for the quarter, compared to analysts’ expectations of $225.43 million. During the same quarter in the previous year, the business posted $0.67 EPS. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, analysts expect that AZZ Inc. will post $3.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be given a dividend of $0.17 per share. This is an increase from AZZ’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, October 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.24%. AZZ’s dividend payout ratio (DPR) is presently 22.06%.
A number of equities analysts have recently issued reports on AZZ shares. Zacks Investment Research downgraded AZZ from a “hold” rating to a “strong sell” rating in a research report on Friday, October 7th. DA Davidson reissued a “hold” rating and set a $55.00 price target on shares of AZZ in a research report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $60.00.
In other AZZ news, SVP Timothy E. Pendley sold 1,200 shares of AZZ stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $62.02, for a total value of $74,424.00. Following the sale, the senior vice president now owns 30,980 shares in the company, valued at $1,921,379.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wallace P. Eisman bought 1,000 shares of AZZ stock in a transaction on Friday, July 15th. The stock was acquired at an average price of $62.27 per share, for a total transaction of $62,270.00. Following the transaction, the director now directly owns 4,641 shares of the company’s stock, valued at $288,995.07. The disclosure for this purchase can be found here. Corporate insiders own 0.01% of the company’s stock.
AZZ Company Profile
AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.
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