Barclays PLC Has $4.25 Million Stock Holdings in AZZ Inc. (NYSE:AZZ)

Barclays PLC lifted its holdings in shares of AZZ Inc. (NYSE:AZZ) by 389.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,458 shares of the industrial products company’s stock after buying an additional 40,938 shares during the period. Barclays PLC owned about 0.17% of AZZ worth $4,250,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of AZZ. Farther Finance Advisors LLC raised its stake in AZZ by 3,790.0% during the third quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 379 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in AZZ in the second quarter valued at approximately $52,000. CWM LLC boosted its position in AZZ by 51.2% in the third quarter. CWM LLC now owns 694 shares of the industrial products company’s stock valued at $57,000 after buying an additional 235 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of AZZ during the second quarter worth $67,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of AZZ in the 2nd quarter valued at $100,000. 90.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Jefferies Financial Group boosted their price objective on AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.80.

AZZ Stock Performance

NYSE AZZ opened at $81.66 on Friday. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 63.80, a PEG ratio of 1.33 and a beta of 1.30. AZZ Inc. has a twelve month low of $54.67 and a twelve month high of $97.98. The stock has a fifty day simple moving average of $85.85 and a 200 day simple moving average of $81.39. The company has a quick ratio of 1.32, a current ratio of 1.85 and a debt-to-equity ratio of 0.91.

AZZ (NYSE:AZZ) last issued its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.05. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The company had revenue of $409.01 million during the quarter, compared to analysts’ expectations of $409.50 million. During the same quarter in the prior year, the firm posted $1.27 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts expect that AZZ Inc. will post 5.08 EPS for the current year.

AZZ Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, October 18th. AZZ’s dividend payout ratio (DPR) is presently 53.13%.

AZZ Profile

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.