Public Sector Pension Investment Board Reduces Position in AZZ Inc. (NYSE:AZZ)

Public Sector Pension Investment Board reduced its stake in AZZ Inc. (NYSE:AZZ) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,272 shares of the industrial products company’s stock after selling 2,100 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of AZZ worth $5,227,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in AZZ by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,074 shares of the industrial products company’s stock valued at $2,016,000 after purchasing an additional 875 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of AZZ by 38.2% during the first quarter. Janus Henderson Group PLC now owns 16,580 shares of the industrial products company’s stock valued at $1,282,000 after buying an additional 4,580 shares during the period. Virtu Financial LLC acquired a new stake in AZZ during the first quarter worth approximately $250,000. CWM LLC grew its stake in AZZ by 69.4% in the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 188 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its holdings in AZZ by 10.0% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 6,451 shares of the industrial products company’s stock valued at $498,000 after acquiring an additional 589 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Trading Up 2.2 %

Shares of AZZ stock opened at $93.14 on Monday. AZZ Inc. has a fifty-two week low of $48.19 and a fifty-two week high of $97.98. The business’s fifty day moving average is $82.62 and its two-hundred day moving average is $80.41. The company has a quick ratio of 1.32, a current ratio of 1.85 and a debt-to-equity ratio of 0.91. The firm has a market cap of $2.78 billion, a PE ratio of 72.77, a P/E/G ratio of 1.30 and a beta of 1.25.

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 analysts’ consensus estimates of $1.32 by $0.05. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The firm had revenue of $409.01 million for the quarter, compared to analyst estimates of $409.50 million. During the same period last year, the company earned $1.27 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts anticipate that AZZ Inc. will post 5.11 earnings per share for the current year.

AZZ Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, October 18th. AZZ’s dividend payout ratio is currently 53.13%.

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.