AZZ Inc. (NYSE:AZZ) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its holdings in shares of AZZ Inc. (NYSE:AZZ - Free Report) by 22.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 185,040 shares of the industrial products company's stock after selling 52,600 shares during the period. King Luther Capital Management Corp owned about 0.62% of AZZ worth $15,286,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in AZZ during the 3rd quarter worth about $611,000. Chesapeake Capital Corp IL grew its position in shares of AZZ by 27.9% during the third quarter. Chesapeake Capital Corp IL now owns 16,540 shares of the industrial products company's stock worth $1,361,000 after buying an additional 3,609 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of AZZ by 54.6% during the third quarter. Victory Capital Management Inc. now owns 35,240 shares of the industrial products company's stock worth $2,911,000 after buying an additional 12,451 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of AZZ by 9.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 23,997 shares of the industrial products company's stock worth $1,982,000 after buying an additional 2,114 shares during the period. Finally, Summit Global Investments acquired a new stake in AZZ in the third quarter valued at approximately $272,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

AZZ Stock Performance

NYSE:AZZ traded up $0.13 during mid-day trading on Friday, reaching $95.54. 278,158 shares of the stock were exchanged, compared to its average volume of 229,987. The company has a 50 day simple moving average of $81.43 and a 200-day simple moving average of $79.83. AZZ Inc. has a 1 year low of $48.03 and a 1 year high of $96.85. The stock has a market capitalization of $2.85 billion, a P/E ratio of 74.64, a P/E/G ratio of 1.22 and a beta of 1.25. The company has a quick ratio of 1.32, a current ratio of 1.85 and a debt-to-equity ratio of 0.91.

AZZ (NYSE:AZZ - Get Free Report) last posted its quarterly earnings data on Wednesday, October 9th. The industrial products company reported $1.37 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $409.50 million. During the same period in the previous year, the business posted $1.27 earnings per share. AZZ's quarterly revenue was up 2.6% on a year-over-year basis. Analysts anticipate that AZZ Inc. will post 5.11 earnings per share for the current fiscal year.

AZZ Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Wolfe Research assumed coverage on AZZ in a report on Wednesday, July 31st. They issued a "peer perform" rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.