Crewe Advisors LLC Acquires New Position in AZZ Inc. (NYSE:AZZ)

Crewe Advisors LLC acquired a new stake in shares of AZZ Inc. (NYSE:AZZ) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,000 shares of the industrial products company’s stock, valued at approximately $77,000.

A number of other institutional investors have also modified their holdings of AZZ. Norges Bank bought a new stake in shares of AZZ during the 4th quarter valued at about $9,715,000. Dimensional Fund Advisors LP grew its position in AZZ by 11.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,055,634 shares of the industrial products company’s stock worth $61,322,000 after purchasing an additional 106,091 shares during the last quarter. Chesapeake Capital Corp IL bought a new position in shares of AZZ in the fourth quarter valued at approximately $2,082,000. Vanguard Group Inc. lifted its stake in AZZ by 1.1% during the first 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 during the last quarter. Finally, Crown Advisors Management Inc. acquired a new stake in AZZ during the first quarter valued at approximately $1,932,000. Institutional investors own 90.93% of the company’s stock.

Insider Transactions at AZZ

In other news, insider Tara D. Mackey sold 331 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $83.50, for a total transaction of $27,638.50. Following the transaction, the insider now owns 34,229 shares in the company, valued at approximately $2,858,121.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Bryan Lee Stovall sold 14,545 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $84.79, for a total transaction of $1,233,270.55. Following the transaction, the chief operating officer now directly owns 20,000 shares in the company, valued at $1,695,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tara D. Mackey sold 331 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $83.50, for a total transaction of $27,638.50. Following the transaction, the insider now owns 34,229 shares in the company, valued at $2,858,121.50. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 1,511 shares of company stock worth $52,794. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com lowered shares of AZZ from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Robert W. Baird started coverage on shares of AZZ in a research note on Tuesday. They set a “neutral” rating and a $90.00 target price for the company. Evercore ISI started coverage on shares of AZZ in a research report on Friday, June 14th. They issued an “outperform” rating and a $90.00 price target for the company. Noble Financial upgraded shares of AZZ from a “market perform” rating to an “outperform” rating and set a $95.00 price target for the company in a research report on Tuesday, June 11th. Finally, Baird R W upgraded shares of AZZ to a “hold” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.80.

AZZ Stock Up 3.5 %

Shares of AZZ stock traded up $2.76 on Friday, hitting $82.10. The company’s stock had a trading volume of 22,549 shares, compared to its average volume of 261,724. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.89 and a quick ratio of 1.28. AZZ Inc. has a fifty-two week low of $43.48 and a fifty-two week high of $88.67. The firm’s fifty day moving average price is $80.15 and its 200-day moving average price is $74.40. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 74.29, a P/E/G ratio of 1.17 and a beta of 1.25.

AZZ (NYSE:AZZ) last released its quarterly earnings data on Wednesday, July 10th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.16. The business had revenue of $413.21 million during the quarter, compared to analyst estimates of $403.25 million. AZZ had a net margin of 7.22% and a return on equity of 17.08%. AZZ’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 EPS. Research analysts anticipate that AZZ Inc. will post 4.93 EPS for the current year.

AZZ Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $0.68 annualized dividend and a dividend yield of 0.83%. AZZ’s payout ratio is 63.55%.

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.