Versor Investments LP Sells 900 Shares of AZZ Inc. (NYSE:AZZ)

Versor Investments LP reduced its stake in AZZ Inc. (NYSE:AZZ) by 12.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,100 shares of the industrial products company’s stock after selling 900 shares during the quarter. Versor Investments LP’s holdings in AZZ were worth $504,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AZZ. Farther Finance Advisors LLC lifted its holdings in shares of AZZ by 3,790.0% in the third quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock worth $32,000 after buying an additional 379 shares in the last quarter. CWM LLC increased its position in AZZ by 69.4% during the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 188 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in AZZ in the 2nd quarter worth about $52,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of AZZ during the 2nd quarter worth approximately $67,000. Finally, 1620 Investment Advisors Inc. purchased a new position in AZZ in the 2nd quarter worth about $72,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

AZZ Stock Down 0.6 %

Shares of AZZ stock opened at $84.08 on Thursday. AZZ Inc. has a twelve month low of $47.77 and a twelve month high of $88.67. The stock has a market cap of $2.51 billion, a P/E ratio of 65.69, a P/E/G ratio of 1.18 and a beta of 1.25. The stock has a 50 day moving average of $79.60 and a 200 day moving average of $79.16. The company has a current ratio of 1.85, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91.

AZZ (NYSE:AZZ) last posted its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.05. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The firm had revenue of $409.01 million during the quarter, compared to analysts’ expectations of $409.50 million. During the same period in the previous year, the business posted $1.27 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that AZZ Inc. will post 5.11 EPS for the current year.

AZZ Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.68 dividend on an annualized basis and a yield of 0.81%. AZZ’s payout ratio is 53.13%.

Analysts Set New Price Targets

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

AZZ Profile

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.