Teachers Retirement System of The State of Kentucky reduced its position in shares of AZZ Inc (NYSE:AZZ) by 6.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,916 shares of the industrial products company’s stock after selling 1,629 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.10% of AZZ worth $1,258,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. Xact Kapitalforvaltning AB increased its position in AZZ by 21.7% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 6,737 shares of the industrial products company’s stock worth $293,000 after buying an additional 1,200 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of AZZ by 21.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 475,313 shares of the industrial products company’s stock worth $20,653,000 after purchasing an additional 83,359 shares during the period. Comerica Bank increased its position in shares of AZZ by 5.1% in the second quarter. Comerica Bank now owns 90,748 shares of the industrial products company’s stock worth $4,891,000 after purchasing an additional 4,436 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of AZZ in the second quarter worth $239,000. Finally, Sei Investments Co. boosted its stake in AZZ by 575,981.8% in the second quarter. Sei Investments Co. now owns 63,369 shares of the industrial products company’s stock valued at $2,753,000 after buying an additional 63,358 shares in the last quarter. 89.15% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on AZZ. ValuEngine upgraded AZZ from a “hold” rating to a “buy” rating in a research report on Tuesday, November 6th. Zacks Investment Research downgraded AZZ from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 11th. Sidoti upgraded AZZ from a “neutral” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Monday, October 29th. Finally, TheStreet downgraded AZZ from a “b-” rating to a “c+” rating in a report on Monday, October 8th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $54.33.
AZZ (NYSE:AZZ) last announced its earnings results on Tuesday, October 9th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.04). The company had revenue of $222.80 million for the quarter, compared to analysts’ expectations of $224.50 million. AZZ had a net margin of 5.63% and a return on equity of 5.43%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. As a group, research analysts predict that AZZ Inc will post 2.2 earnings per share for the current fiscal year.
In related news, insider Thomas E. Ferguson bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 22nd. The shares were bought at an average price of $45.77 per share, with a total value of $228,850.00. Following the completion of the transaction, the insider now directly owns 62,099 shares in the company, valued at $2,842,271.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul Wesley Fehlman bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 22nd. The shares were bought at an average cost of $45.48 per share, for a total transaction of $45,480.00. Following the transaction, the chief financial officer now owns 12,755 shares of the company’s stock, valued at $580,097.40. The disclosure for this purchase can be found here. 0.01% of the stock is owned by insiders.
AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.
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