Victory Capital Management Inc. Boosts Holdings in AZZ Inc. (NYSE:AZZ)

Victory Capital Management Inc. grew its holdings in shares of AZZ Inc. (NYSE:AZZ - Free Report) by 54.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 35,240 shares of the industrial products company's stock after acquiring an additional 12,451 shares during the period. Victory Capital Management Inc. owned about 0.12% of AZZ worth $2,911,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in 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 last quarter. CWM LLC lifted its position in shares of AZZ by 69.4% in the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company's stock worth $35,000 after purchasing an additional 188 shares during the period. Point72 DIFC Ltd bought a new stake in shares of AZZ in the 2nd quarter valued at $52,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AZZ during the second quarter worth $67,000. Finally, 1620 Investment Advisors Inc. bought a new position in AZZ during the second quarter worth $72,000. Institutional investors and hedge funds own 90.93% of the company's stock.

AZZ Stock Up 0.1 %

AZZ traded up $0.13 during midday trading on Friday, hitting $95.54. The company had a trading volume of 278,313 shares, compared to its average volume of 181,785. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 74.64, a PEG ratio of 1.34 and a beta of 1.25. The stock's 50 day moving average price is $81.43 and its 200 day moving average price is $79.89. 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 Inc. has a 52 week low of $48.03 and a 52 week high of $96.85.

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 for the quarter, beating the consensus estimate of $1.32 by $0.05. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The business had revenue of $409.01 million for the quarter, compared to analysts' expectations of $409.50 million. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.27 EPS. On average, research analysts anticipate that AZZ Inc. will post 5.11 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The company also recently announced 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 of this dividend was Friday, October 18th. This represents a $0.68 annualized dividend and a dividend yield of 0.71%. AZZ's dividend payout ratio is currently 53.13%.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research began coverage on AZZ in a report on Wednesday, July 31st. They set a "peer perform" rating for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.80.

AZZ 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.