AZZ Inc. (NYSE:AZZ) Stake Raised by Riverwater Partners LLC

Riverwater Partners LLC grew its holdings in shares of AZZ Inc. (NYSE:AZZ) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,155 shares of the industrial products company’s stock after purchasing an additional 413 shares during the period. Riverwater Partners LLC owned approximately 0.05% of AZZ worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. CWM LLC boosted its holdings in AZZ by 69.4% during the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after buying an additional 188 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of AZZ during the 2nd quarter worth $52,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of AZZ in the 2nd quarter worth $67,000. 1620 Investment Advisors Inc. acquired a new position in shares of AZZ in the 2nd quarter worth $72,000. Finally, FSC Wealth Advisors LLC lifted its holdings in shares of AZZ by 38.6% during the second quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 265 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wolfe Research began coverage on AZZ in a research note on Wednesday, July 31st. They issued a “peer perform” rating on the stock. Baird R W upgraded shares of AZZ to a “hold” rating in a report on Tuesday, July 23rd. Robert W. Baird assumed coverage on shares of AZZ in a research note on Tuesday, July 23rd. They issued a “neutral” rating and a $90.00 price objective for the company. Finally, B. Riley lifted their price objective on shares of AZZ from $89.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.80.

AZZ Stock Down 0.9 %

AZZ stock opened at $75.80 on Thursday. AZZ Inc. has a twelve month low of $44.91 and a twelve month high of $88.67. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 1.89. The firm has a market cap of $2.26 billion, a PE ratio of 70.84, a P/E/G ratio of 1.18 and a beta of 1.23. The firm’s 50 day moving average price is $79.59 and its two-hundred day moving average price is $78.85.

AZZ (NYSE:AZZ) last posted its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The business had revenue of $409.01 million for the quarter, compared to the consensus estimate of $409.50 million. AZZ had a net margin of 7.63% and a return on equity of 18.19%. AZZ’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 earnings per share. On average, research analysts predict that AZZ Inc. will post 4.95 EPS for the current fiscal year.

AZZ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid a $0.17 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.68 annualized dividend and a dividend yield of 0.90%. AZZ’s payout ratio is 63.55%.

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.