Fmr LLC Acquires 385,240 Shares of AZZ Inc. (NYSE:AZZ)

FMR LLC lifted its position in shares of AZZ Inc. (NYSE:AZZ - Free Report) by 13.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,223,391 shares of the industrial products company's stock after purchasing an additional 385,240 shares during the quarter. FMR LLC owned 10.79% of AZZ worth $266,284,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AZZ. Dynamic Technology Lab Private Ltd grew its stake in AZZ by 258.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 12,689 shares of the industrial products company's stock valued at $1,048,000 after acquiring an additional 9,149 shares during the period. Intech Investment Management LLC lifted its holdings in shares of AZZ by 177.9% during the 3rd quarter. Intech Investment Management LLC now owns 10,660 shares of the industrial products company's stock valued at $881,000 after purchasing an additional 6,824 shares in the last quarter. Quest Partners LLC acquired a new position in shares of AZZ in the 3rd quarter valued at approximately $611,000. Chesapeake Capital Corp IL increased its stake in AZZ by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 16,540 shares of the industrial products company's stock worth $1,361,000 after purchasing an additional 3,609 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in AZZ by 54.6% during the 3rd quarter. Victory Capital Management Inc. now owns 35,240 shares of the industrial products company's stock worth $2,911,000 after buying an additional 12,451 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.

AZZ Stock Up 1.6 %

Shares of AZZ stock traded up $1.45 on Monday, hitting $94.59. The company had a trading volume of 99,901 shares, compared to its average volume of 228,024. The stock has a 50-day moving average of $82.62 and a 200-day moving average of $80.42. 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 twelve month low of $50.04 and a twelve month high of $97.98. The firm has a market capitalization of $2.83 billion, a P/E ratio of 71.48, a P/E/G ratio of 1.30 and a beta of 1.25.

AZZ (NYSE:AZZ - Get Free Report) last released its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (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 revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. Research analysts predict that AZZ Inc. will post 5.11 earnings per share for the current year.

AZZ Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, October 18th. AZZ's payout ratio is 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.