2,838 Shares in AZZ Inc. (NYSE:AZZ) Purchased by Millburn Ridgefield Corp

Millburn Ridgefield Corp purchased a new stake in AZZ Inc. (NYSE:AZZ) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,838 shares of the industrial products company’s stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AZZ. FMR LLC grew its holdings in shares of AZZ by 13.6% during the third quarter. FMR LLC now owns 3,223,391 shares of the industrial products company’s stock worth $266,284,000 after purchasing an additional 385,240 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of AZZ by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,147,513 shares of the industrial products company’s stock worth $88,646,000 after acquiring an additional 53,188 shares during the last quarter. Harvey Partners LLC lifted its stake in shares of AZZ by 1.8% during the third quarter. Harvey Partners LLC now owns 666,000 shares of the industrial products company’s stock valued at $55,018,000 after acquiring an additional 12,000 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of AZZ by 10.6% during the second quarter. Bank of New York Mellon Corp now owns 269,101 shares of the industrial products company’s stock valued at $20,788,000 after acquiring an additional 25,714 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in AZZ by 6.8% in the third quarter. Principal Financial Group Inc. now owns 157,418 shares of the industrial products company’s stock valued at $13,004,000 after acquiring an additional 10,038 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

AZZ Stock Performance

Shares of NYSE:AZZ opened at $93.80 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. AZZ Inc. has a 1-year low of $50.04 and a 1-year high of $97.98. The stock has a market capitalization of $2.80 billion, a P/E ratio of 73.28, a P/E/G ratio of 1.34 and a beta of 1.30. The business has a 50-day moving average price of $82.91 and a two-hundred day moving average price of $80.56.

AZZ (NYSE:AZZ) last issued its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.32 by $0.05. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The company had revenue of $409.01 million during the quarter, compared to analysts’ expectations of $409.50 million. During the same quarter in the previous year, the company earned $1.27 EPS. AZZ’s revenue was up 2.6% on a year-over-year basis. Equities analysts predict 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. Stockholders of record on Friday, October 18th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, October 18th. AZZ’s dividend payout ratio (DPR) 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.