Rhumbline Advisers grew its stake in AZZ Inc (NYSE:AZZ) by 4.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,881 shares of the industrial products company’s stock after purchasing an additional 3,905 shares during the quarter. Rhumbline Advisers owned about 0.33% of AZZ worth $3,741,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of AZZ. Nuveen Asset Management LLC bought a new position in AZZ in the 2nd quarter worth $21,447,000. Victory Capital Management Inc. raised its holdings in AZZ by 5,419.3% in the 2nd quarter. Victory Capital Management Inc. now owns 438,896 shares of the industrial products company’s stock worth $20,198,000 after purchasing an additional 430,944 shares in the last quarter. Renaissance Technologies LLC raised its holdings in AZZ by 67.0% in the 2nd quarter. Renaissance Technologies LLC now owns 205,700 shares of the industrial products company’s stock worth $9,466,000 after purchasing an additional 82,500 shares in the last quarter. Morgan Stanley raised its holdings in AZZ by 72.5% in the 2nd quarter. Morgan Stanley now owns 122,531 shares of the industrial products company’s stock worth $5,639,000 after purchasing an additional 51,479 shares in the last quarter. Finally, FMR LLC raised its holdings in AZZ by 6.2% in the 1st quarter. FMR LLC now owns 716,433 shares of the industrial products company’s stock worth $29,324,000 after purchasing an additional 41,567 shares in the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.
Several brokerages have commented on AZZ. TheStreet lowered shares of AZZ from a “b-” rating to a “c+” rating in a report on Tuesday, August 27th. Zacks Investment Research upgraded shares of AZZ from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Friday, September 27th.
NYSE:AZZ opened at $39.50 on Friday. The firm’s 50-day moving average price is $40.28 and its 200-day moving average price is $43.34. The company has a market capitalization of $1.03 billion, a PE ratio of 20.15 and a beta of 1.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.86 and a quick ratio of 2.01. AZZ Inc has a 1-year low of $35.81 and a 1-year high of $50.36.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 21st were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Friday, October 18th. AZZ’s dividend payout ratio is presently 34.69%.
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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