AZZ Inc (NYSE:AZZ) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in AZZ Inc (NYSE:AZZ) by 67.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 205,700 shares of the industrial products company’s stock after acquiring an additional 82,500 shares during the quarter. Renaissance Technologies LLC owned 0.79% of AZZ worth $9,466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avestar Capital LLC acquired a new stake in shares of AZZ during the first quarter worth about $40,000. Bank of Montreal Can increased its holdings in shares of AZZ by 19.0% in the 1st quarter. Bank of Montreal Can now owns 1,618 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 258 shares during the last quarter. Quantamental Technologies LLC increased its holdings in shares of AZZ by 39.9% in the 2nd quarter. Quantamental Technologies LLC now owns 1,752 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 500 shares during the last quarter. Menta Capital LLC purchased a new position in shares of AZZ in the 2nd quarter valued at about $202,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of AZZ in the 1st quarter valued at about $250,000. 87.30% of the stock is owned by institutional investors and hedge funds.

NYSE AZZ traded down $0.37 during mid-day trading on Monday, hitting $42.60. The stock had a trading volume of 2,885 shares, compared to its average volume of 114,511. AZZ Inc has a 52-week low of $37.43 and a 52-week high of $52.95. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 21.77 and a beta of 1.45. The company has a 50 day simple moving average of $42.25 and a 200 day simple moving average of $44.04. The company has a quick ratio of 2.01, a current ratio of 2.86 and a debt-to-equity ratio of 0.07.

AZZ (NYSE:AZZ) last announced its earnings results on Monday, July 8th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.10. The business had revenue of $289.10 million for the quarter, compared to analyst estimates of $277.20 million. AZZ had a return on equity of 9.44% and a net margin of 5.95%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. As a group, equities analysts anticipate that AZZ Inc will post 2.59 earnings per share for the current fiscal year.

A number of research analysts have recently commented on AZZ shares. TheStreet downgraded AZZ from a “b-” rating to a “c+” rating in a report on Tuesday, August 27th. Zacks Investment Research downgraded AZZ from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. AZZ currently has an average rating of “Hold” and an average target price of $50.33.

AZZ Profile

AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.

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Institutional Ownership by Quarter for AZZ (NYSE:AZZ)

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