Summit Investment Advisors Inc. Has $252,000 Stock Holdings in AZZ Inc. (NYSE:AZZ)

Summit Investment Advisors Inc. grew its position in AZZ Inc. (NYSE:AZZ) by 7.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,072 shares of the industrial products company’s stock after buying an additional 205 shares during the period. Summit Investment Advisors Inc.’s holdings in AZZ were worth $252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AZZ. US Bancorp DE increased its position in AZZ by 39.0% in the fourth quarter. US Bancorp DE now owns 463 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 130 shares during the period. Smartleaf Asset Management LLC boosted 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 valued at $39,000 after purchasing an additional 318 shares during the last quarter. Farther Finance Advisors LLC grew 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 worth $42,000 after buying an additional 126 shares during the period. KBC Group NV raised its stake in shares of AZZ by 50.8% during the fourth quarter. KBC Group NV now owns 1,244 shares of the industrial products company’s stock worth $102,000 after buying an additional 419 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in AZZ in the fourth quarter valued at approximately $214,000. 90.93% of the stock is owned by institutional investors and hedge funds.

AZZ Stock Down 4.3 %

AZZ stock opened at $77.55 on Tuesday. AZZ Inc. has a twelve month low of $69.59 and a twelve 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 company has a 50 day moving average of $87.22 and a 200-day moving average of $86.35. The stock has a market capitalization of $2.32 billion, a PE ratio of 52.40, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22.

AZZ (NYSE:AZZ) last released its earnings results on Monday, April 21st. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The firm had revenue of $351.88 million during the quarter, compared to analysts’ expectations of $367.78 million. On average, equities research analysts anticipate that AZZ Inc. will post 5.13 EPS for the current fiscal year.

AZZ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 24th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Thursday, April 24th. AZZ’s dividend payout ratio (DPR) is currently 45.95%.

Analysts Set New Price Targets

Several analysts have commented on AZZ shares. Roth Capital upgraded shares of AZZ to a “strong-buy” rating in a research report on Tuesday, February 11th. Noble Financial reaffirmed an “outperform” rating on shares of AZZ in a research note on Thursday, March 6th. Roth Mkm started coverage on AZZ in a research note on Tuesday, February 11th. They issued a “buy” rating and a $108.00 target price on the stock. B. Riley boosted their target price on AZZ from $99.00 to $111.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Sidoti upgraded shares of AZZ from a “neutral” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.71.

About AZZ

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.