JPMorgan Chase & Co. Sells 10,695 Shares of AZZ Inc. (NYSE:AZZ)

JPMorgan Chase & Co. reduced its stake in AZZ Inc. (NYSE:AZZ - Free Report) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190,781 shares of the industrial products company's stock after selling 10,695 shares during the period. JPMorgan Chase & Co. owned 0.64% of AZZ worth $15,760,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. CWM LLC grew its holdings in AZZ by 51.2% in the 3rd quarter. CWM LLC now owns 694 shares of the industrial products company's stock valued at $57,000 after buying an additional 235 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of AZZ by 3,790.0% in the third 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 during the period. Hsbc Holdings PLC grew its stake in shares of AZZ by 11.5% in the second quarter. Hsbc Holdings PLC now owns 3,971 shares of the industrial products company's stock valued at $309,000 after acquiring an additional 409 shares in the last quarter. Riverwater Partners LLC increased its position in AZZ by 2.8% during the third quarter. Riverwater Partners LLC now owns 15,155 shares of the industrial products company's stock worth $1,222,000 after acquiring an additional 413 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in AZZ in the 2nd quarter worth about $52,000. 90.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group increased their target price on shares of AZZ from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $96.80.

AZZ Price Performance

AZZ stock traded up $0.55 during trading hours on Friday, reaching $83.66. 184,531 shares of the stock were exchanged, compared to its average volume of 235,538. 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 twelve month low of $56.49 and a twelve month high of $97.98. The company has a market cap of $2.50 billion, a P/E ratio of 65.36, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. The stock has a 50 day moving average of $87.34 and a two-hundred day moving average of $81.92.

AZZ (NYSE:AZZ - Get Free Report) last issued its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.10. The company had revenue of $403.65 million during the quarter, compared to the consensus estimate of $394.30 million. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 EPS. Equities analysts expect that AZZ Inc. will post 5.08 EPS for the current fiscal year.

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.