Wrapmanager Inc. Sells 525 Shares of AZZ Inc. (NYSE:AZZ)

Wrapmanager Inc. lessened its holdings in AZZ Inc. (NYSE:AZZ) by 17.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,545 shares of the industrial products company’s stock after selling 525 shares during the period. Wrapmanager Inc.’s holdings in AZZ were worth $210,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of AZZ by 253.0% in the first quarter. Russell Investments Group Ltd. now owns 2,026 shares of the industrial products company’s stock valued at $157,000 after purchasing an additional 1,452 shares during the period. ProShare Advisors LLC raised its holdings in shares of AZZ by 7.4% in the first quarter. ProShare Advisors LLC now owns 5,010 shares of the industrial products company’s stock valued at $387,000 after acquiring an additional 344 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in AZZ by 56.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,097 shares of the industrial products company’s stock worth $858,000 after acquiring an additional 4,010 shares during the period. Vanguard Group Inc. raised its holdings in shares of AZZ by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,726,037 shares of the industrial products company’s stock valued at $210,750,000 after purchasing an additional 28,609 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of AZZ by 6.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 21,669 shares of the industrial products company’s stock worth $1,674,000 after purchasing an additional 1,284 shares during the period. 90.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AZZ shares. Wolfe Research initiated coverage on AZZ in a report on Wednesday, July 31st. They issued a “peer perform” rating on the stock. Baird R W raised shares of AZZ to a “hold” rating in a report on Tuesday, July 23rd. Finally, Robert W. Baird initiated coverage on AZZ in a report on Tuesday, July 23rd. They set a “neutral” rating and a $90.00 price objective for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.80.

AZZ Price Performance

NYSE AZZ opened at $86.92 on Wednesday. The stock’s fifty day moving average price is $80.44 and its 200 day moving average price is $79.52. AZZ Inc. has a 1 year low of $48.03 and a 1 year high of $88.67. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.85 and a quick ratio of 1.32. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 67.91, a PEG ratio of 1.16 and a beta of 1.25.

AZZ (NYSE:AZZ) last issued its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The firm had revenue of $409.01 million for the quarter, compared to analyst estimates of $409.50 million. During the same quarter in the prior year, the firm earned $1.27 earnings per share. AZZ’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities research analysts forecast that AZZ Inc. will post 5.11 earnings per share for the current year.

AZZ Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.68 annualized dividend and a dividend yield of 0.78%. AZZ’s dividend payout ratio (DPR) is presently 53.13%.

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.