Advantage Alpha Capital Partners LP Makes New $2.04 Million Investment in AZZ Inc. (NYSE:AZZ)

Advantage Alpha Capital Partners LP acquired a new position in shares of AZZ Inc. (NYSE:AZZ) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,679 shares of the industrial products company’s stock, valued at approximately $2,039,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AZZ. Farther Finance Advisors LLC raised its holdings in AZZ by 3,790.0% during the 3rd 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 during the last quarter. CWM LLC boosted its stake in shares of AZZ by 69.4% in the 2nd 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 acquired a new stake in shares of AZZ during the second quarter worth $52,000. Point72 Asia Singapore Pte. Ltd. bought a new position in AZZ during the second quarter worth $67,000. Finally, 1620 Investment Advisors Inc. acquired a new position in AZZ in the second quarter valued at $72,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research assumed coverage on AZZ in a report on Wednesday, July 31st. They set a “peer perform” rating for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AZZ currently has an average rating of “Moderate Buy” and a consensus price target of $95.80.

AZZ Stock Down 0.2 %

Shares of NYSE AZZ opened at $95.33 on Tuesday. 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 $2.85 billion, a PE ratio of 74.48, a P/E/G ratio of 1.34 and a beta of 1.25. The company’s fifty day simple moving average is $81.76 and its 200 day simple moving average is $80.01. AZZ Inc. has a 12-month low of $48.03 and a 12-month high of $97.98.

AZZ (NYSE:AZZ) last released its quarterly earnings data 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. The company had revenue of $409.01 million for the quarter, compared to analysts’ expectations of $409.50 million. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 EPS. As a group, sell-side analysts forecast that AZZ Inc. will post 5.11 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, October 18th. This represents a $0.68 annualized dividend and a dividend yield of 0.71%. AZZ’s dividend payout ratio is 53.13%.

AZZ Company 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.