California Public Employees Retirement System grew its holdings in AZZ Inc. (NYSE:AZZ) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,800 shares of the industrial products company’s stock after purchasing an additional 1,000 shares during the period. California Public Employees Retirement System owned approximately 0.18% of AZZ worth $2,667,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Capital Analysts LLC acquired a new position in shares of AZZ in the 2nd quarter valued at $108,000. Pinebridge Investments L.P. lifted its stake in shares of AZZ by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,431 shares of the industrial products company’s stock valued at $191,000 after purchasing an additional 45 shares during the last quarter. Amalgamated Bank lifted its stake in AZZ by 4.9% during the 2nd quarter. Amalgamated Bank now owns 3,595 shares of the industrial products company’s stock worth $201,000 after acquiring an additional 167 shares in the last quarter. Profund Advisors LLC lifted its stake in AZZ by 6.0% during the 2nd quarter. Profund Advisors LLC now owns 4,800 shares of the industrial products company’s stock worth $268,000 after acquiring an additional 272 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in AZZ during the 1st quarter worth about $282,000. 85.06% of the stock is currently owned by institutional investors and hedge funds.
AZZ Inc. (NYSE:AZZ) opened at 48.05 on Monday. The company’s 50-day moving average price is $48.31 and its 200 day moving average price is $52.20. AZZ Inc. has a 1-year low of $44.80 and a 1-year high of $67.70. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 24.39 and a beta of 1.52.
AZZ (NYSE:AZZ) last issued its quarterly earnings data on Tuesday, October 3rd. The industrial products company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.09). The company had revenue of $190.40 million for the quarter, compared to analyst estimates of $193.70 million. AZZ had a return on equity of 9.65% and a net margin of 6.27%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, equities analysts expect that AZZ Inc. will post $1.93 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Tuesday, October 17th. AZZ’s dividend payout ratio is presently 34.52%.
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Several equities analysts recently issued reports on the company. BidaskClub lowered AZZ from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Stifel Nicolaus reissued a “hold” rating and set a $56.00 target price on shares of AZZ in a research note on Thursday, September 7th. Zacks Investment Research lowered AZZ from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Finally, TheStreet lowered AZZ from a “b” rating to a “c+” rating in a research note on Friday, July 7th.
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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