Segall Bryant & Hamill LLC Reduces Position in AZZ Inc. (NYSE:AZZ)

Segall Bryant & Hamill LLC cut its stake in AZZ Inc. (NYSE:AZZ - Free Report) by 12.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 620,202 shares of the industrial products company's stock after selling 90,017 shares during the quarter. AZZ comprises approximately 0.7% of Segall Bryant & Hamill LLC's investment portfolio, making the stock its 21st biggest position. Segall Bryant & Hamill LLC owned about 2.08% of AZZ worth $50,807,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC raised its position in shares of AZZ by 32.4% during the 4th quarter. Farther Finance Advisors LLC now owns 515 shares of the industrial products company's stock valued at $42,000 after buying an additional 126 shares during the period. US Bancorp DE raised its position in AZZ by 39.0% in the fourth quarter. US Bancorp DE now owns 463 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 130 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of AZZ by 4.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,658 shares of the industrial products company's stock valued at $300,000 after purchasing an additional 143 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of AZZ by 0.6% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 24,151 shares of the industrial products company's stock worth $1,978,000 after purchasing an additional 154 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in shares of AZZ by 202.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 475 shares of the industrial products company's stock worth $39,000 after purchasing an additional 318 shares during the period. Hedge funds and other institutional investors own 90.93% of the company's stock.

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AZZ Stock Down 2.5 %

AZZ traded down $2.15 during trading hours on Friday, hitting $83.62. 37,269 shares of the company's stock were exchanged, compared to its average volume of 246,093. The firm has a market cap of $2.50 billion, a P/E ratio of 56.58, a price-to-earnings-growth ratio of 1.32 and a beta of 1.27. AZZ Inc. has a 12-month low of $69.59 and a 12-month high of $99.49. The company has a current ratio of 1.77, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The firm has a 50 day moving average of $90.51 and a 200 day moving average of $86.12.

AZZ (NYSE:AZZ - Get Free Report) last posted its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.29 by $0.10. The business had revenue of $403.65 million during the quarter, compared to the consensus estimate of $394.30 million. AZZ had a net margin of 7.94% and a return on equity of 16.99%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 earnings per share. Analysts predict that AZZ Inc. will post 5.13 EPS for the current fiscal year.

AZZ Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Thursday, January 30th. AZZ's payout ratio is presently 45.95%.

Analysts Set New Price Targets

AZZ has been the topic of several research analyst reports. Roth Mkm assumed coverage on shares of AZZ in a report on Tuesday, February 11th. They issued a "buy" rating and a $108.00 price objective on the stock. Noble Financial reissued an "outperform" rating on shares of AZZ in a research note on Thursday, March 6th. B. Riley increased their price objective on shares of AZZ from $99.00 to $111.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Jefferies Financial Group lifted their target price on shares of AZZ from $105.00 to $110.00 and gave the company a "buy" rating in a report on Friday, December 6th. Finally, Roth Capital upgraded AZZ to a "strong-buy" rating in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $100.67.

AZZ Company 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.