Flagship Harbor Advisors LLC Buys New Shares in AZZ Inc. (NYSE:AZZ)

Flagship Harbor Advisors LLC purchased a new stake in shares of AZZ Inc. (NYSE:AZZ) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,845 shares of the industrial products company’s stock, valued at approximately $233,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC increased its position in shares of AZZ by 23.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 9,363 shares of the industrial products company’s stock valued at $767,000 after purchasing an additional 1,755 shares during the period. Oliver Luxxe Assets LLC bought a new stake in AZZ in the 4th quarter valued at $1,421,000. Hennessy Advisors Inc. raised its stake in shares of AZZ by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 131,500 shares of the industrial products company’s stock valued at $10,772,000 after buying an additional 8,400 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of AZZ by 23.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 22,715 shares of the industrial products company’s stock worth $1,861,000 after acquiring an additional 4,315 shares during the period. Finally, Nordea Investment Management AB bought a new stake in AZZ in the fourth quarter valued at about $7,798,000. 90.93% of the stock is currently owned by institutional investors.

AZZ Trading Up 0.2 %

Shares of AZZ stock opened at $86.10 on Thursday. The company has a market capitalization of $2.57 billion, a P/E ratio of 58.18, a P/E/G ratio of 1.22 and a beta of 1.30. AZZ Inc. has a 12-month low of $62.08 and a 12-month high of $97.98. The company has a quick ratio of 1.26, a current ratio of 1.77 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $88.07 and a 200 day moving average price of $82.78.

AZZ (NYSE:AZZ) last announced its 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. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The business had revenue of $403.65 million for the quarter, compared to the consensus estimate of $394.30 million. During the same period in the previous year, the business earned $1.19 EPS. AZZ’s revenue was up 5.8% compared to the same quarter last year. Research analysts forecast that AZZ Inc. will post 5.13 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, January 30th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.79%. AZZ’s dividend payout ratio is 45.95%.

Wall Street Analysts Forecast Growth

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

AZZ Company 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.