AZZ Inc. (NYSE:AZZ) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its position in AZZ Inc. (NYSE:AZZ) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,221 shares of the industrial products company’s stock after selling 1,699 shares during the quarter. HighTower Advisors LLC owned about 0.26% of AZZ worth $6,325,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AZZ. CWM LLC grew its stake in AZZ by 69.4% during the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after buying an additional 188 shares during the period. Claro Advisors LLC grew its stake in AZZ by 7.7% during the second quarter. Claro Advisors LLC now owns 3,298 shares of the industrial products company’s stock worth $255,000 after buying an additional 236 shares during the period. FSC Wealth Advisors LLC boosted its position in AZZ by 38.6% during the 2nd quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company’s stock worth $73,000 after purchasing an additional 265 shares during the period. Pullen Investment Management LLC boosted its position in AZZ by 3.3% during the 2nd quarter. Pullen Investment Management LLC now owns 11,379 shares of the industrial products company’s stock worth $879,000 after purchasing an additional 368 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in AZZ by 3,790.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 379 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

AZZ Trading Down 1.4 %

NYSE:AZZ opened at $94.07 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.85 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average is $84.12 and its two-hundred day moving average is $80.98. AZZ Inc. has a 52 week low of $50.27 and a 52 week high of $97.98. The company has a market cap of $2.81 billion, a PE ratio of 73.49, a P/E/G ratio of 1.33 and a beta of 1.30.

AZZ (NYSE:AZZ) last posted its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The company had revenue of $409.01 million for the quarter, compared to the consensus estimate of $409.50 million. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $1.27 EPS. On average, analysts predict that AZZ Inc. will post 5.12 EPS for the current year.

AZZ Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, October 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.72%. AZZ’s dividend payout ratio (DPR) is presently 53.13%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upped their target price on AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.