Arkadios Wealth Advisors Boosts Position in AZZ Inc. $AZZ

Arkadios Wealth Advisors raised its position in AZZ Inc. (NYSE:AZZ) by 164.1% during the 2nd quarter, Holdings Channel reports. The firm owned 6,623 shares of the industrial products company’s stock after acquiring an additional 4,115 shares during the quarter. Arkadios Wealth Advisors’ holdings in AZZ were worth $626,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AZZ. Teacher Retirement System of Texas purchased a new stake in shares of AZZ in the 1st quarter worth about $347,000. Principal Financial Group Inc. boosted its position in shares of AZZ by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 168,694 shares of the industrial products company’s stock worth $14,105,000 after buying an additional 3,854 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of AZZ by 15.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 11,246 shares of the industrial products company’s stock worth $940,000 after buying an additional 1,497 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in shares of AZZ by 11.9% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 10,481 shares of the industrial products company’s stock worth $876,000 after buying an additional 1,118 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in shares of AZZ by 4.2% in the 1st quarter. Cerity Partners LLC now owns 3,606 shares of the industrial products company’s stock worth $302,000 after buying an additional 146 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

AZZ has been the subject of a number of analyst reports. Evercore ISI boosted their price target on AZZ from $90.00 to $108.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Zacks Research downgraded AZZ from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Weiss Ratings downgraded AZZ from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, October 24th. Wall Street Zen downgraded AZZ from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Noble Financial restated an “outperform” rating on shares of AZZ in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $115.43.

Insider Transactions at AZZ

In related news, insider Kurt L. Russell sold 10,321 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $112.21, for a total value of $1,158,119.41. Following the completion of the transaction, the insider owned 16,804 shares of the company’s stock, valued at approximately $1,885,576.84. This represents a 38.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Bryan Lee Stovall sold 5,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $111.60, for a total value of $558,000.00. Following the completion of the transaction, the chief operating officer directly owned 22,709 shares of the company’s stock, valued at $2,534,324.40. This represents a 18.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.77% of the company’s stock.

AZZ Stock Performance

Shares of NYSE:AZZ opened at $101.37 on Tuesday. The firm has a market capitalization of $3.05 billion, a PE ratio of 9.75 and a beta of 1.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.73 and a quick ratio of 1.25. The business has a 50-day moving average of $108.12 and a two-hundred day moving average of $101.59. AZZ Inc. has a 12 month low of $70.90 and a 12 month high of $119.95.

AZZ (NYSE:AZZ) last released its quarterly earnings results on Tuesday, May 9th. The industrial products company reported $0.56 EPS for the quarter. The firm had revenue of $129.87 million for the quarter. AZZ had a return on equity of 15.01% and a net margin of 19.69%. As a group, research analysts forecast that AZZ Inc. will post 5.13 earnings per share for the current year.

AZZ Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Thursday, October 16th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $0.80 annualized dividend and a yield of 0.8%. AZZ’s payout ratio is 7.69%.

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.