AZZ Inc. (NYSE:AZZ) Shares Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd grew its stake in shares of AZZ Inc. (NYSE:AZZ - Free Report) by 258.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,689 shares of the industrial products company's stock after purchasing an additional 9,149 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in AZZ were worth $1,048,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its position 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 worth $11,860,000 after purchasing an additional 153,339 shares during the period. Hennessy Advisors Inc. purchased a new position in AZZ in the second quarter valued at about $8,443,000. Assenagon Asset Management S.A. raised its holdings in AZZ by 325.3% in the second quarter. Assenagon Asset Management S.A. now owns 122,141 shares of the industrial products company's stock worth $9,435,000 after purchasing an additional 93,420 shares in the last quarter. Millennium Management LLC lifted its position in shares of AZZ by 1,822.5% during the second quarter. Millennium Management LLC now owns 72,650 shares of the industrial products company's stock valued at $5,612,000 after buying an additional 68,871 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of AZZ in the 2nd quarter valued at about $4,969,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

AZZ Stock Performance

Shares of AZZ traded down $1.19 during mid-day trading on Wednesday, reaching $91.15. The company had a trading volume of 148,762 shares, compared to its average volume of 229,203. The stock has a market capitalization of $2.72 billion, a P/E ratio of 71.17, a PEG ratio of 1.33 and a beta of 1.25. AZZ Inc. has a 52-week low of $48.03 and a 52-week high of $97.98. The stock has a 50 day moving average of $82.01 and a two-hundred day moving average of $80.11. 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 (NYSE:AZZ - Get Free Report) last released its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 EPS 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 company had revenue of $409.01 million for the quarter, compared to analyst estimates of $409.50 million. During the same quarter last year, the business earned $1.27 earnings per share. The firm's revenue was up 2.6% on a year-over-year basis. On average, analysts expect that AZZ Inc. will post 5.11 earnings per share for the current year.

AZZ Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Friday, October 18th. AZZ's dividend payout ratio is presently 53.13%.

Wall Street Analysts Forecast Growth

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

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.