AZZ Inc. (NYSE:AZZ) Shares Sold by Delphi Management Inc. MA

Delphi Management Inc. MA decreased its holdings in shares of AZZ Inc. (NYSE:AZZ) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,269 shares of the industrial products company’s stock after selling 286 shares during the quarter. AZZ comprises 1.4% of Delphi Management Inc. MA’s holdings, making the stock its 26th largest holding. Delphi Management Inc. MA owned approximately 0.06% of AZZ worth $1,497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new position in shares of AZZ during the third quarter worth $61,139,000. FMR LLC boosted its position in shares of AZZ by 13.6% during the third quarter. FMR LLC now owns 3,223,391 shares of the industrial products company’s stock worth $266,284,000 after buying an additional 385,240 shares during the period. Nordea Investment Management AB purchased a new position in shares of AZZ during the fourth quarter worth $7,798,000. Raymond James Financial Inc. purchased a new position in shares of AZZ during the fourth quarter worth $5,052,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of AZZ during the fourth quarter worth $4,037,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Stock Up 0.2 %

Shares of NYSE AZZ opened at $86.63 on Tuesday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 58.53, a price-to-earnings-growth ratio of 1.32 and a beta of 1.27. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.77 and a quick ratio of 1.26. The business has a 50-day moving average of $90.48 and a two-hundred day moving average of $85.87. AZZ Inc. has a 1 year low of $69.59 and a 1 year high of $99.49.

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

AZZ Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, January 30th. AZZ’s dividend payout ratio (DPR) is currently 45.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AZZ. Noble Financial restated an “outperform” rating on shares of AZZ in a research report on Thursday, March 6th. Roth Capital upgraded AZZ to a “strong-buy” rating in a report on Tuesday, February 11th. B. Riley lifted their target price on AZZ from $99.00 to $111.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Roth Mkm assumed coverage on AZZ in a report on Tuesday, February 11th. They issued a “buy” rating and a $108.00 target price for the company. Finally, Jefferies Financial Group lifted their target price on AZZ from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AZZ has a consensus rating of “Moderate Buy” and a consensus price target of $100.67.

About AZZ

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.