Thrivent Financial for Lutherans Trims Stake in AZZ Inc. (NYSE:AZZ)

Thrivent Financial for Lutherans cut its holdings in shares of AZZ Inc. (NYSE:AZZ - Free Report) by 60.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,414 shares of the industrial products company's stock after selling 36,302 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of AZZ worth $1,934,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in AZZ by 3,790.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 379 shares during the period. CWM LLC lifted its holdings in shares of AZZ by 69.4% in the second quarter. CWM LLC now owns 459 shares of the industrial products company's stock worth $35,000 after buying an additional 188 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of AZZ during the second quarter worth $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in AZZ during the second quarter valued at $67,000. Finally, 1620 Investment Advisors Inc. bought a new stake in AZZ in the 2nd quarter valued at $72,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

AZZ Price Performance

Shares of AZZ traded up $1.99 during mid-day trading on Friday, hitting $93.14. 88,208 shares of the stock were exchanged, compared to its average volume of 228,592. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85. The company has a market cap of $2.78 billion, a PE ratio of 72.16, a price-to-earnings-growth ratio of 1.28 and a beta of 1.25. AZZ Inc. has a 52-week low of $48.19 and a 52-week high of $97.98. The firm has a 50-day moving average of $82.39 and a two-hundred day moving average of $80.27.

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, topping analysts' consensus estimates of $1.32 by $0.05. The firm had revenue of $409.01 million during the quarter, compared to analysts' expectations of $409.50 million. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The company's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.27 EPS. On average, equities analysts predict that AZZ Inc. will post 5.11 earnings per share for the current year.

AZZ Announces Dividend

The firm 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 was Friday, October 18th. This represents a $0.68 annualized dividend and a dividend yield of 0.73%. AZZ's dividend payout ratio (DPR) is presently 53.13%.

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.