US Bancorp DE Cuts Stock Position in AZZ Inc. (NYSE:AZZ)

US Bancorp DE reduced its stake in AZZ Inc. (NYSE:AZZ) by 81.0% during the third quarter, HoldingsChannel reports. The fund owned 333 shares of the industrial products company’s stock after selling 1,416 shares during the period. US Bancorp DE’s holdings in AZZ were worth $28,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CWM LLC boosted its stake in AZZ by 69.4% in the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 188 shares in the last quarter. Point72 DIFC Ltd purchased a new position in AZZ in the second quarter worth about $52,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of AZZ in the second quarter worth approximately $67,000. 1620 Investment Advisors Inc. purchased a new stake in shares of AZZ during the second quarter valued at approximately $72,000. Finally, FSC Wealth Advisors LLC increased its position in shares of AZZ by 38.6% during the second quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 265 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors.

AZZ Trading Up 2.5 %

NYSE:AZZ opened at $85.00 on Tuesday. The company has a market cap of $2.54 billion, a PE ratio of 66.41, a price-to-earnings-growth ratio of 1.16 and a beta of 1.25. The company has a current ratio of 1.85, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. The company has a 50 day simple moving average of $80.17 and a two-hundred day simple moving average of $79.44. AZZ Inc. has a 12 month low of $48.03 and a 12 month high of $88.67.

AZZ (NYSE:AZZ) last released its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $409.01 million for the quarter, compared to the consensus estimate of $409.50 million. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the business posted $1.27 EPS. Research analysts forecast that AZZ Inc. will post 5.11 earnings per share for the current year.

AZZ Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Friday, October 18th. AZZ’s payout ratio is 53.13%.

Wall Street Analyst Weigh In

AZZ has been the topic of several analyst reports. Baird R W raised AZZ to a “hold” rating in a research report on Tuesday, July 23rd. Robert W. Baird began coverage on AZZ in a research note on Tuesday, July 23rd. They issued a “neutral” rating and a $90.00 price target for the company. Finally, Wolfe Research initiated coverage on AZZ in a research report on Wednesday, July 31st. They set a “peer perform” rating on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, AZZ currently has a consensus rating of “Moderate Buy” and an average target price of $95.80.

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.