State Street Corp Has $90.89 Million Stake in AZZ Inc. (NYSE:AZZ)

State Street Corp lifted its stake in shares of AZZ Inc. (NYSE:AZZ - Free Report) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,100,189 shares of the industrial products company's stock after purchasing an additional 27,710 shares during the quarter. State Street Corp owned about 3.68% of AZZ worth $90,887,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in shares of AZZ by 3,790.0% during the third 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 period. CWM LLC increased 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 acquiring an additional 188 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of AZZ in the 2nd quarter valued at approximately $52,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of AZZ during the 2nd quarter worth approximately $67,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of AZZ in the second quarter valued at about $72,000. 90.93% of the stock is owned by institutional investors and hedge funds.

AZZ Price Performance

NYSE:AZZ traded down $4.54 on Tuesday, hitting $89.95. The company had a trading volume of 182,600 shares, compared to its average volume of 226,452. The firm has a 50 day moving average of $85.46 and a two-hundred day moving average of $81.33. AZZ Inc. has a 52 week low of $53.12 and a 52 week high of $97.98. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 71.31, a PEG ratio of 1.33 and a beta of 1.30. 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 (NYSE:AZZ - Get Free Report) last announced its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $409.50 million. During the same period in the prior year, the business posted $1.27 earnings per share. The firm's revenue was up 2.6% on a year-over-year basis. On average, research analysts anticipate that AZZ Inc. will post 5.08 earnings per share for the current year.

AZZ Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.76%. AZZ's payout ratio is presently 53.13%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group boosted their price target on AZZ from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $96.80.

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.