Goldman Sachs Group Inc. trimmed its holdings in shares of AZZ Inc. (NYSE:AZZ) by 50.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,852 shares of the industrial products company’s stock after selling 28,577 shares during the period. Goldman Sachs Group Inc. owned about 0.11% of AZZ worth $1,554,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in AZZ. Capital Analysts LLC bought a new stake in shares of AZZ during the 2nd quarter worth $108,000. Pinebridge Investments L.P. raised its stake in shares of AZZ by 1.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,431 shares of the industrial products company’s stock worth $191,000 after purchasing an additional 45 shares during the period. Amalgamated Bank raised its stake in shares of 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 purchasing an additional 167 shares during the period. M&T Bank Corp bought a new stake in shares of AZZ during the 2nd quarter worth $238,000. Finally, Profund Advisors LLC raised its stake in shares of 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 purchasing an additional 272 shares during the period. Institutional investors own 85.06% of the company’s stock.
AZZ (NYSE:AZZ) last posted its earnings results on Tuesday, October 3rd. The industrial products company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.09). AZZ had a net margin of 6.27% and a return on equity of 9.65%. The firm had revenue of $190.40 million during the quarter, compared to the consensus estimate of $193.70 million. During the same period in the prior year, the company posted $0.55 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Tuesday, October 17th. AZZ’s payout ratio is 34.52%.
A number of equities research analysts have recently commented on AZZ shares. Zacks Investment Research cut AZZ from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 28th. Stifel Nicolaus decreased their price objective on AZZ from $58.00 to $56.00 and set a “hold” rating for the company in a report on Friday, July 7th. BidaskClub lowered AZZ from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, TheStreet lowered AZZ from a “b” rating to a “c+” rating in a report on Friday, July 7th.
AZZ Company Profile
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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