Summit Global Investments Has $440,000 Holdings in AZZ Inc. (NYSE:AZZ)

Summit Global Investments raised its position in shares of AZZ Inc. (NYSE:AZZ) by 63.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,370 shares of the industrial products company’s stock after acquiring an additional 2,081 shares during the period. Summit Global Investments’ holdings in AZZ were worth $440,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE boosted its stake in AZZ by 39.0% in the 4th quarter. US Bancorp DE now owns 463 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 130 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of AZZ by 202.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 475 shares of the industrial products company’s stock worth $39,000 after buying an additional 318 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of AZZ by 32.4% in the fourth quarter. Farther Finance Advisors LLC now owns 515 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 126 shares during the period. KBC Group NV grew its stake in shares of AZZ by 50.8% in the fourth quarter. KBC Group NV now owns 1,244 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 419 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in AZZ during the fourth quarter worth about $225,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Stock Performance

NYSE:AZZ opened at $86.21 on Tuesday. AZZ Inc. has a twelve month low of $69.59 and a twelve month high of $99.49. 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 stock’s 50-day simple moving average is $90.53 and its 200 day simple moving average is $86.03. The firm has a market capitalization of $2.58 billion, a PE ratio of 58.25, a price-to-earnings-growth ratio of 1.32 and a beta of 1.27.

AZZ (NYSE:AZZ) last posted its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.10. The company had revenue of $403.65 million for the quarter, compared to the consensus estimate of $394.30 million. AZZ had a net margin of 7.94% and a return on equity of 16.99%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $1.19 EPS. On average, analysts anticipate that AZZ Inc. will post 5.13 EPS for the current fiscal year.

AZZ Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, January 30th. This represents a $0.68 annualized dividend and a dividend yield of 0.79%. AZZ’s dividend payout ratio (DPR) is presently 45.95%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Noble Financial reissued an “outperform” rating on shares of AZZ in a report on Thursday, March 6th. B. Riley increased their price target on AZZ from $99.00 to $111.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Jefferies Financial Group lifted their price objective on AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 6th. Roth Mkm began coverage on AZZ in a report on Tuesday, February 11th. They set a “buy” rating and a $108.00 target price on the stock. Finally, Roth Capital upgraded AZZ to a “strong-buy” rating in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AZZ has an average rating of “Moderate Buy” and an average price target of $100.67.

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.