UBS Group AG reduced its stake in AZZ Inc. (NYSE:AZZ) by 15.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,331 shares of the industrial products company’s stock after selling 2,612 shares during the period. UBS Group AG’s holdings in AZZ were worth $853,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Glen Harbor Capital Management LLC increased its position in AZZ by 10.2% in the first quarter. Glen Harbor Capital Management LLC now owns 1,836 shares of the industrial products company’s stock worth $109,000 after buying an additional 170 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of AZZ during the first quarter worth approximately $133,000. Quantbot Technologies LP increased its position in shares of AZZ by 364.0% in the first quarter. Quantbot Technologies LP now owns 2,255 shares of the industrial products company’s stock worth $134,000 after buying an additional 1,769 shares during the last quarter. Bank of Montreal Can increased its position in shares of AZZ by 6.9% in the first quarter. Bank of Montreal Can now owns 2,613 shares of the industrial products company’s stock worth $155,000 after buying an additional 168 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of AZZ by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 2,860 shares of the industrial products company’s stock worth $170,000 after buying an additional 50 shares during the last quarter. 86.91% of the stock is currently owned by institutional investors.
AZZ Inc. (NYSE:AZZ) traded down 0.60% during midday trading on Wednesday, hitting $49.30. 58,389 shares of the company traded hands. The stock’s 50-day moving average is $51.31 and its 200-day moving average is $56.02. The firm has a market capitalization of $1.28 billion, a PE ratio of 24.27 and a beta of 1.57. AZZ Inc. has a 12-month low of $47.62 and a 12-month high of $67.98.
AZZ (NYSE:AZZ) last announced its earnings results on Thursday, July 6th. The industrial products company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by $0.19. The company had revenue of $208.60 million during the quarter, compared to analysts’ expectations of $225.08 million. AZZ had a net margin of 6.44% and a return on equity of 10.98%. The company’s revenue for the quarter was down 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.81 earnings per share. Analysts anticipate that AZZ Inc. will post $2.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 18th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Friday, July 14th. AZZ’s payout ratio is currently 33.50%.
A number of equities research analysts have recently weighed in on AZZ shares. BidaskClub cut AZZ from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research cut AZZ from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Stifel Nicolaus dropped their target price on AZZ from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Friday, July 7th. Finally, TheStreet cut AZZ from a “b” rating to a “c+” rating in a report on Friday, July 7th.
In related news, insider Thomas E. Ferguson purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The shares were acquired at an average price of $49.59 per share, for a total transaction of $247,950.00. Following the completion of the acquisition, the insider now directly owns 49,037 shares in the company, valued at approximately $2,431,744.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul Wesley Fehlman purchased 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The stock was bought at an average price of $49.31 per share, for a total transaction of $73,965.00. Following the acquisition, the chief financial officer now owns 9,287 shares of the company’s stock, valued at $457,941.97. The disclosure for this purchase can be found here. 0.01% of the stock is owned by company insiders.
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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