AZZ Inc. (NYSE:AZZ) Shares Sold by Delphi Management Inc. MA

Delphi Management Inc. MA lowered its position in shares of AZZ Inc. (NYSE:AZZ) by 1.5% during the fourth quarter, Holdings Channel reports. The firm owned 18,269 shares of the industrial products company’s stock after selling 286 shares during the quarter. AZZ makes up about 1.4% of Delphi Management Inc. MA’s portfolio, making the stock its 26th largest holding. Delphi Management Inc. MA’s holdings in AZZ were worth $1,497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. increased its position in AZZ by 54.6% in the 3rd quarter. Victory Capital Management Inc. now owns 35,240 shares of the industrial products company’s stock valued at $2,911,000 after acquiring an additional 12,451 shares during the period. Quest Partners LLC acquired a new position in AZZ in the 3rd quarter valued at about $611,000. Intech Investment Management LLC increased its position in AZZ by 177.9% in the 3rd quarter. Intech Investment Management LLC now owns 10,660 shares of the industrial products company’s stock valued at $881,000 after acquiring an additional 6,824 shares during the period. Dynamic Technology Lab Private Ltd increased its position in AZZ by 258.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 12,689 shares of the industrial products company’s stock valued at $1,048,000 after acquiring an additional 9,149 shares during the period. Finally, FMR LLC increased its position in AZZ by 13.6% in the 3rd quarter. FMR LLC now owns 3,223,391 shares of the industrial products company’s stock valued at $266,284,000 after acquiring an additional 385,240 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Price Performance

Shares of NYSE:AZZ opened at $86.63 on Tuesday. The business’s 50 day simple moving average is $90.48 and its 200-day simple moving average is $85.87. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 58.53, a price-to-earnings-growth ratio of 1.32 and a beta of 1.27. 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 12 month low of $69.59 and a 12 month high of $99.49.

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

AZZ Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, January 30th. AZZ’s dividend payout ratio (DPR) is 45.95%.

Analyst Upgrades and Downgrades

AZZ has been the topic of several recent research reports. B. Riley boosted their price target on AZZ from $99.00 to $111.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Noble Financial reiterated an “outperform” rating on shares of AZZ in a research report on Thursday, March 6th. Roth Capital upgraded AZZ to a “strong-buy” rating in a research report on Tuesday, February 11th. Jefferies Financial Group boosted their target price on AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Roth Mkm began coverage on AZZ in a research report on Tuesday, February 11th. They set a “buy” rating and a $108.00 target price on the stock. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.67.

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.