Gamco Investors INC. ET AL Reduces Stock Position in AZZ Inc. (NYSE:AZZ)

Gamco Investors INC. ET AL trimmed its holdings in shares of AZZ Inc. (NYSE:AZZFree Report) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 687,248 shares of the industrial products company’s stock after selling 9,956 shares during the period. Gamco Investors INC. ET AL’s holdings in AZZ were worth $39,922,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Tectonic Advisors LLC increased its stake in shares of AZZ by 1.4% during the 4th quarter. Tectonic Advisors LLC now owns 15,543 shares of the industrial products company’s stock worth $903,000 after purchasing an additional 221 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in AZZ by 8.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,206 shares of the industrial products company’s stock worth $302,000 after acquiring an additional 417 shares during the period. Covestor Ltd grew its stake in AZZ by 131.5% in the 3rd quarter. Covestor Ltd now owns 903 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 513 shares during the period. Victory Capital Management Inc. grew its stake in AZZ by 14.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,081 shares of the industrial products company’s stock worth $295,000 after acquiring an additional 629 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of AZZ by 1.5% during the 3rd quarter. Swiss National Bank now owns 55,000 shares of the industrial products company’s stock valued at $2,507,000 after acquiring an additional 800 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

AZZ Price Performance

AZZ stock traded down $0.91 during mid-day trading on Thursday, hitting $78.34. The company’s stock had a trading volume of 105,262 shares, compared to its average volume of 244,658. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $2.33 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.13 and a beta of 1.27. AZZ Inc. has a twelve month low of $38.60 and a twelve month high of $86.94. The stock’s fifty day moving average price is $78.33 and its two-hundred day moving average price is $68.91.

AZZ (NYSE:AZZGet Free Report) last posted its quarterly earnings results on Monday, April 22nd. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.23. The firm had revenue of $366.50 million for the quarter, compared to analyst estimates of $351.67 million. AZZ had a net margin of 6.61% and a return on equity of 15.66%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. Research analysts forecast that AZZ Inc. will post 4.85 earnings per share for the current year.

AZZ Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 2nd. Shareholders of record on Wednesday, April 17th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Tuesday, April 16th. AZZ’s dividend payout ratio (DPR) is currently 19.83%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AZZ. Jefferies Financial Group assumed coverage on shares of AZZ in a report on Monday, May 20th. They set a “buy” rating and a $105.00 target price on the stock. B. Riley raised their target price on AZZ from $67.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. StockNews.com cut shares of AZZ from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Finally, Noble Financial raised AZZ from a “market perform” rating to an “outperform” rating and set a $95.00 target price on the stock in a report on Tuesday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, AZZ presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Get Our Latest Stock Analysis 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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