Advantage Alpha Capital Partners LP Acquires Shares of 24,679 AZZ Inc. (NYSE:AZZ)

Advantage Alpha Capital Partners LP bought a new position in AZZ Inc. (NYSE:AZZ - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,679 shares of the industrial products company's stock, valued at approximately $2,039,000. Advantage Alpha Capital Partners LP owned approximately 0.08% of AZZ as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in AZZ. Farther Finance Advisors LLC increased its stake in shares of AZZ by 3,790.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 379 shares in the last quarter. CWM LLC raised its holdings in shares of AZZ by 69.4% during the second 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 period. Point72 DIFC Ltd bought a new position in shares of AZZ during the 2nd quarter worth about $52,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AZZ in the 2nd quarter valued at about $67,000. Finally, 1620 Investment Advisors Inc. bought a new stake in AZZ in the 2nd quarter valued at about $72,000. 90.93% of the stock is owned by institutional investors and hedge funds.

AZZ Stock Down 3.1 %

AZZ traded down $2.99 during midday trading on Tuesday, reaching $92.34. 155,967 shares of the company were exchanged, compared to its average volume of 229,554. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 72.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.25. AZZ Inc. has a one year low of $48.03 and a one year high of $97.98. The company's fifty day moving average price is $81.76 and its 200 day moving average price is $80.01. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85.

AZZ (NYSE:AZZ - Get Free Report) last announced its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.05. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The business had revenue of $409.01 million during the quarter, compared to the consensus estimate of $409.50 million. During the same quarter in the prior year, the company posted $1.27 earnings per share. AZZ's revenue was up 2.6% compared to the same quarter last year. As a group, analysts expect that AZZ Inc. will post 5.11 EPS for the current year.

AZZ Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Friday, October 18th. AZZ's payout ratio is 53.13%.

Wall Street Analyst Weigh In

Separately, Wolfe Research began 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 given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $95.80.

About AZZ

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.