Intech Investment Management LLC Acquires 6,824 Shares of AZZ Inc. (NYSE:AZZ)

Intech Investment Management LLC raised its holdings in shares of AZZ Inc. (NYSE:AZZ) by 177.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,660 shares of the industrial products company’s stock after buying an additional 6,824 shares during the quarter. Intech Investment Management LLC’s holdings in AZZ were worth $881,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in shares of AZZ by 3,790.0% during the third quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 379 shares in the last quarter. CWM LLC lifted 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 purchasing an additional 188 shares during the last quarter. Point72 DIFC Ltd purchased a new position in AZZ in the 2nd quarter worth approximately $52,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of AZZ in the 2nd quarter worth $67,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of AZZ during the 2nd quarter valued at $72,000. 90.93% of the stock is currently owned by institutional investors.

AZZ Stock Performance

NYSE AZZ opened at $91.15 on Friday. AZZ Inc. has a 52-week low of $48.03 and a 52-week high of $97.98. The company has a fifty day moving average of $82.23 and a 200-day moving average of $80.19. The company has a market capitalization of $2.72 billion, a P/E ratio of 71.21, a P/E/G ratio of 1.33 and a beta of 1.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85.

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

AZZ Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Friday, October 18th. AZZ’s payout ratio is currently 53.13%.

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.