Bridgewater Associates LP Sells 9,402 Shares of AZZ Inc. (NYSE:AZZ)

Bridgewater Associates LP trimmed its holdings in AZZ Inc. (NYSE:AZZ - Free Report) by 67.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,516 shares of the industrial products company's stock after selling 9,402 shares during the quarter. Bridgewater Associates LP's holdings in AZZ were worth $373,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC grew its position in AZZ by 3,790.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company's stock worth $32,000 after purchasing an additional 379 shares during the period. CWM LLC boosted its position in 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 purchasing an additional 188 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of AZZ during the 2nd quarter valued at about $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of AZZ during the 2nd quarter valued at about $67,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of AZZ in the second quarter worth approximately $72,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

AZZ Stock Performance

AZZ stock traded down $1.98 during midday trading on Tuesday, reaching $93.71. 104,610 shares of the company's stock traded hands, compared to its average volume of 228,067. The stock's 50-day moving average is $82.91 and its 200 day moving average is $80.56. The stock has a market cap of $2.80 billion, a P/E ratio of 72.46, a PEG ratio of 1.30 and a beta of 1.30. AZZ Inc. has a 52-week low of $50.04 and a 52-week high of $97.98. 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 (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. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The company had revenue of $409.01 million for the quarter, compared to analysts' expectations of $409.50 million. During the same period last year, the firm earned $1.27 EPS. AZZ's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts anticipate that AZZ Inc. will post 5.11 EPS for the current year.

AZZ Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.73%. AZZ's payout ratio is currently 53.13%.

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.