4,073 Shares in AZZ Inc. $AZZ Acquired by MQS Management LLC

MQS Management LLC bought a new position in AZZ Inc. (NYSE:AZZ) in the second quarter, according to its most recent filing with the SEC. The firm bought 4,073 shares of the industrial products company’s stock, valued at approximately $385,000.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in AZZ by 39.6% in the 2nd quarter. GAMMA Investing LLC now owns 374 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 106 shares in the last quarter. Signaturefd LLC lifted its stake in AZZ by 110.0% during the 1st quarter. Signaturefd LLC now owns 399 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 209 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in AZZ by 1,121.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 977 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 897 shares during the period. Russell Investments Group Ltd. lifted its stake in AZZ by 140.1% during the 1st quarter. Russell Investments Group Ltd. now owns 1,095 shares of the industrial products company’s stock valued at $92,000 after acquiring an additional 639 shares during the period. Finally, CWM LLC lifted its stake in AZZ by 97.0% during the 1st quarter. CWM LLC now owns 1,389 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 684 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AZZ has been the subject of several research reports. Noble Financial restated an “outperform” rating on shares of AZZ in a research note on Monday, July 14th. Wall Street Zen cut shares of AZZ from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. Wells Fargo & Company decreased their price objective on shares of AZZ from $128.00 to $121.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Evercore ISI lifted their price objective on shares of AZZ from $90.00 to $108.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Finally, B. Riley lifted their price objective on shares of AZZ from $131.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.43.

AZZ Stock Performance

AZZ opened at $98.61 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.73 and a quick ratio of 1.25. The firm has a fifty day moving average price of $109.75 and a 200 day moving average price of $100.70. AZZ Inc. has a 1 year low of $70.90 and a 1 year high of $119.95. The stock has a market cap of $2.96 billion, a P/E ratio of 9.48 and a beta of 1.30.

AZZ (NYSE:AZZ) last posted its earnings results on Tuesday, May 9th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter. AZZ had a net margin of 19.69% and a return on equity of 15.01%. The firm had revenue of $129.87 million during the quarter. Equities research analysts anticipate that AZZ Inc. will post 5.13 earnings per share for the current year.

AZZ Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Thursday, October 16th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, October 16th. AZZ’s payout ratio is presently 7.69%.

Insider Buying and Selling at AZZ

In related news, COO Bryan Lee Stovall sold 5,000 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $111.60, for a total value of $558,000.00. Following the completion of the sale, the chief operating officer owned 22,709 shares of the company’s stock, valued at approximately $2,534,324.40. The trade was a 18.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurt L. Russell sold 10,321 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $112.21, for a total transaction of $1,158,119.41. Following the completion of the sale, the insider directly owned 16,804 shares of the company’s stock, valued at approximately $1,885,576.84. The trade was a 38.05% decrease in their position. The disclosure for this sale can be found here. 1.77% of the stock is currently owned by insiders.

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.