SG Americas Securities LLC Cuts Holdings in AZZ Inc. (NYSE:AZZ)

SG Americas Securities LLC lowered its holdings in AZZ Inc. (NYSE:AZZ) by 79.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,753 shares of the industrial products company’s stock after selling 6,792 shares during the quarter. SG Americas Securities LLC’s holdings in AZZ were worth $102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State of Wyoming purchased a new stake in AZZ in the fourth quarter worth approximately $29,000. Covestor Ltd boosted its stake in shares of AZZ by 131.5% in the 3rd quarter. Covestor Ltd now owns 903 shares of the industrial products company’s stock worth $41,000 after buying an additional 513 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of AZZ by 557.7% in the first quarter. Tower Research Capital LLC TRC now owns 1,848 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 1,567 shares during the period. Quantbot Technologies LP purchased a new stake in AZZ during the second quarter valued at $93,000. Finally, Captrust Financial Advisors lifted its holdings in AZZ by 31.5% in the first quarter. Captrust Financial Advisors now owns 2,431 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 583 shares during the period. 90.93% of the stock is owned by institutional investors.

AZZ Stock Performance

NYSE:AZZ opened at $74.86 on Friday. The stock has a 50-day simple moving average of $74.61 and a two-hundred day simple moving average of $60.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.33 and a current ratio of 1.96. AZZ Inc. has a 52-week low of $34.59 and a 52-week high of $82.10. The firm has a market capitalization of $1.88 billion, a PE ratio of 27.03, a P/E/G ratio of 1.15 and a beta of 1.28.

AZZ Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 2nd. Investors of record on Wednesday, April 17th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.91%. The ex-dividend date is Tuesday, April 16th. AZZ’s dividend payout ratio is 24.55%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AZZ. Noble Financial downgraded AZZ from an “outperform” rating to a “market perform” rating and set a $75.00 price target for the company. in a research note on Friday, March 22nd. StockNews.com cut shares of AZZ from a “buy” rating to a “hold” rating in a report on Friday, February 9th.

About AZZ

AZZ Inc provides hot-dip galvanizing and coil coating solutions in the United States, Canada, Brazil, China, the Netherlands, Poland, Singapore, and India. The company operates through AZZ Metal Coatings and AZZ Precoat Metals segments. The AZZ Metal Coatings segment offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries.