Charles Schwab Investment Management Inc. Lowers Stock Position in AZZ Inc. (NYSE:AZZ)

Charles Schwab Investment Management Inc. cut its holdings in shares of AZZ Inc. (NYSE:AZZ - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 402,486 shares of the industrial products company's stock after selling 6,772 shares during the period. Charles Schwab Investment Management Inc. owned about 1.35% of AZZ worth $33,249,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in AZZ by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,147,513 shares of the industrial products company's stock worth $88,646,000 after purchasing an additional 53,188 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in AZZ by 10.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 269,101 shares of the industrial products company's stock worth $20,788,000 after purchasing an additional 25,714 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of AZZ by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 157,418 shares of the industrial products company's stock valued at $13,004,000 after acquiring an additional 10,038 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of AZZ by 81,999.5% in the 2nd quarter. Federated Hermes Inc. now owns 153,526 shares of the industrial products company's stock valued at $11,860,000 after acquiring an additional 153,339 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of AZZ by 325.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 122,141 shares of the industrial products company's stock valued at $9,435,000 after acquiring an additional 93,420 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

AZZ Trading Down 0.8 %

Shares of NYSE:AZZ traded down $0.76 during mid-day trading on Wednesday, hitting $92.95. The company had a trading volume of 180,077 shares, compared to its average volume of 227,862. The firm has a fifty day moving average price of $83.15 and a 200 day moving average price of $80.68. The company has a market capitalization of $2.78 billion, a PE ratio of 73.28, a price-to-earnings-growth ratio of 1.34 and a beta of 1.30. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.85 and a quick ratio of 1.32. AZZ Inc. has a one year low of $50.27 and a one year high of $97.98.

AZZ (NYSE:AZZ - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $409.01 million during the quarter, compared to analyst estimates of $409.50 million. AZZ had a net margin of 7.63% and a return on equity of 16.88%. AZZ's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 EPS. As a group, research analysts forecast that AZZ Inc. will post 5.11 EPS for the current year.

AZZ Announces Dividend

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

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.