First Manhattan Co. lifted its stake in shares of AZZ Inc. (NYSE:AZZ) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,342 shares of the industrial products company’s stock after buying an additional 1,950 shares during the quarter. First Manhattan Co. owned about 0.48% of AZZ worth $6,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nationwide Fund Advisors increased its position in shares of AZZ by 14.2% during the third quarter. Nationwide Fund Advisors now owns 43,025 shares of the industrial products company’s stock valued at $2,095,000 after buying an additional 5,355 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of AZZ during the second quarter valued at about $331,000. Piedmont Investment Advisors LLC purchased a new position in shares of AZZ during the second quarter valued at about $314,000. Dean Capital Management purchased a new position in shares of AZZ during the second quarter valued at about $2,656,000. Finally, State Street Corp increased its position in shares of AZZ by 4.3% during the second quarter. State Street Corp now owns 628,974 shares of the industrial products company’s stock valued at $35,092,000 after buying an additional 25,832 shares during the period. Institutional investors own 85.06% of the company’s stock.
AZZ (NYSE:AZZ) last announced its quarterly earnings data on Tuesday, October 3rd. The industrial products company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.09). AZZ had a net margin of 6.27% and a return on equity of 9.65%. The company had revenue of $190.40 million for the quarter, compared to the consensus estimate of $193.70 million. During the same quarter in the previous year, the business earned $0.55 EPS. The company’s quarterly revenue was down 2.4% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Tuesday, October 17th. AZZ’s dividend payout ratio (DPR) is 34.52%.
Several brokerages recently issued reports on AZZ. Stifel Nicolaus reduced their price target on shares of AZZ from $56.00 to $52.00 and set a “hold” rating on the stock in a research report on Wednesday, September 27th. BidaskClub cut shares of AZZ from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Zacks Investment Research cut shares of AZZ from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 28th. Finally, TheStreet cut shares of AZZ from a “b” rating to a “c+” rating in a research report on Friday, July 7th.
AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.
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