Royal Bank of Canada reduced its position in shares of AZZ Inc. (NYSE:AZZ) by 0.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,289,020 shares of the company’s stock after selling 538 shares during the period. Royal Bank of Canada owned about 4.97% of AZZ worth $72,959,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of AZZ. Philadelphia Trust Co. raised its position in AZZ by 10.9% in the fourth quarter. Philadelphia Trust Co. now owns 88,030 shares of the company’s stock worth $5,212,000 after buying an additional 8,650 shares in the last quarter. GSA Capital Partners LLP raised its position in AZZ by 66.1% in the fourth quarter. GSA Capital Partners LLP now owns 20,818 shares of the company’s stock worth $1,157,000 after buying an additional 8,283 shares in the last quarter. California Public Employees Retirement System raised its position in AZZ by 10.3% in the fourth quarter. California Public Employees Retirement System now owns 74,800 shares of the company’s stock worth $4,157,000 after buying an additional 7,000 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in AZZ by 1.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 105,021 shares of the company’s stock worth $5,837,000 after buying an additional 1,923 shares in the last quarter. Finally, Virginia Retirement System purchased a new position in AZZ during the first quarter worth $1,075,000.
AZZ Inc. (NYSE:AZZ) traded down 0.05% during midday trading on Wednesday, reaching $62.08. 58,900 shares of the company were exchanged. The firm’s 50-day moving average price is $60.12 and its 200 day moving average price is $55.57. AZZ Inc. has a 52-week low of $45.01 and a 52-week high of $63.35. The stock has a market capitalization of $1.61 billion and a price-to-earnings ratio of 20.69.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Monday, July 18th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, July 14th. This represents a $0.60 annualized dividend and a dividend yield of 0.97%.
AZZ has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of AZZ from a “hold” rating to a “sell” rating in a research report on Monday, April 25th. DA Davidson reissued a “hold” rating and issued a $55.00 price objective on shares of AZZ in a research report on Wednesday, July 6th. Five research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average price target of $60.00.
In other news, SVP Timothy E. Pendley sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $62.02, for a total transaction of $74,424.00. Following the completion of the transaction, the senior vice president now owns 30,980 shares in the company, valued at approximately $1,921,379.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Wallace P. Eisman acquired 1,000 shares of AZZ stock in a transaction dated Friday, July 15th. The shares were acquired at an average price of $62.27 per share, with a total value of $62,270.00. Following the transaction, the director now owns 4,641 shares in the company, valued at approximately $288,995.07. The disclosure for this purchase can be found here.
AZZ Inc, formerly AZZ incorporated, 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 in two business segments: the Energy segment and the Galvanizing Services segment.
