Harvey Partners LLC Boosts Stock Holdings in AZZ Inc. (NYSE:AZZ)

Harvey Partners LLC boosted its position in AZZ Inc. (NYSE:AZZ - Free Report) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 666,000 shares of the industrial products company's stock after purchasing an additional 12,000 shares during the period. AZZ comprises approximately 6.3% of Harvey Partners LLC's portfolio, making the stock its biggest holding. Harvey Partners LLC owned 2.23% of AZZ worth $55,018,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of AZZ by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,074 shares of the industrial products company's stock worth $2,016,000 after purchasing an additional 875 shares during the period. Janus Henderson Group PLC increased its holdings in shares of AZZ by 38.2% in the first quarter. Janus Henderson Group PLC now owns 16,580 shares of the industrial products company's stock worth $1,282,000 after purchasing an additional 4,580 shares during the period. Virtu Financial LLC bought a new position in shares of AZZ in the first quarter worth $250,000. CWM LLC increased 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 purchasing an additional 188 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its stake in AZZ by 10.0% in the second quarter. Linden Thomas Advisory Services LLC now owns 6,451 shares of the industrial products company's stock valued at $498,000 after acquiring an additional 589 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

AZZ Price Performance

AZZ traded down $1.98 during trading on Tuesday, reaching $93.71. The stock had a trading volume of 104,610 shares, compared to its average volume of 228,067. The stock has a market cap of $2.80 billion, a PE ratio of 72.46, a PEG ratio of 1.30 and a beta of 1.30. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85. AZZ Inc. has a one year low of $50.04 and a one year high of $97.98. The business has a 50-day moving average of $82.91 and a 200-day moving average of $80.56.

AZZ (NYSE:AZZ - Get Free Report) last released its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 EPS for the quarter, beating 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 business had revenue of $409.01 million for the quarter, compared to analysts' expectations of $409.50 million. During the same quarter in the prior year, the firm earned $1.27 earnings per share. The firm's revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts anticipate that AZZ Inc. will post 5.11 EPS for the current fiscal year.

AZZ Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.68 annualized dividend and a dividend yield of 0.73%. AZZ's payout ratio 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.