Sei Investments Co. Buys 1,767 Shares of AZZ Inc. (NYSE:AZZ)

Sei Investments Co. raised its stake in shares of AZZ Inc. (NYSE:AZZ) by 11.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,745 shares of the industrial products company’s stock after buying an additional 1,767 shares during the period. Sei Investments Co.’s holdings in AZZ were worth $1,372,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AZZ. Farther Finance Advisors LLC grew its stake 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 purchasing an additional 126 shares during the period. US Bancorp DE increased its holdings in AZZ by 39.0% during the fourth quarter. US Bancorp DE now owns 463 shares of the industrial products company’s stock valued at $38,000 after buying an additional 130 shares during the last quarter. Parkside Financial Bank & Trust raised its position in AZZ by 4.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,658 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 143 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of AZZ by 0.6% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 24,151 shares of the industrial products company’s stock worth $1,978,000 after acquiring an additional 154 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of AZZ by 202.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 475 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 318 shares in the last quarter. 90.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on AZZ. Noble Financial reiterated an “outperform” rating on shares of AZZ in a research report on Thursday, March 6th. Roth Mkm started coverage on shares of AZZ in a report on Tuesday, February 11th. They issued a “buy” rating and a $108.00 target price for the company. Roth Capital raised shares of AZZ to a “strong-buy” rating in a report on Tuesday, February 11th. Finally, B. Riley upped their price target on shares of AZZ from $99.00 to $111.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $100.67.

AZZ Trading Down 4.8 %

AZZ stock opened at $77.07 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.77 and a quick ratio of 1.26. AZZ Inc. has a 1-year low of $69.59 and a 1-year high of $99.49. The business has a 50 day simple moving average of $89.95 and a two-hundred day simple moving average of $86.51. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 52.07, a PEG ratio of 1.32 and a beta of 1.22.

AZZ (NYSE:AZZ) last issued its earnings results on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.10. The firm had revenue of $403.65 million during the quarter, compared to analyst estimates of $394.30 million. AZZ had a net margin of 7.94% and a return on equity of 16.99%. AZZ’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. Research analysts anticipate that AZZ Inc. will post 5.13 EPS for the current fiscal year.

AZZ Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th were issued a $0.17 dividend. The ex-dividend date was Thursday, January 30th. This represents a $0.68 annualized dividend and a dividend yield of 0.88%. AZZ’s dividend payout ratio (DPR) is 45.95%.

AZZ 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.