Intech Investment Management LLC Increases Holdings in AZZ Inc. (NYSE:AZZ)

Intech Investment Management LLC lifted its position in AZZ Inc. (NYSE:AZZ - Free Report) by 177.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,660 shares of the industrial products company's stock after acquiring an additional 6,824 shares during the quarter. Intech Investment Management LLC's holdings in AZZ were worth $881,000 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. Farther Finance Advisors LLC boosted its holdings in shares of 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 buying an additional 379 shares during the last quarter. CWM LLC raised 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 acquiring an additional 188 shares during the period. Point72 DIFC Ltd purchased a new position in AZZ in the second quarter valued at about $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of AZZ during the 2nd quarter worth approximately $67,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of AZZ during the 2nd 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 up $2.18 during trading on Friday, hitting $93.33. The stock had a trading volume of 88,204 shares, compared to its average volume of 228,592. The stock's 50 day moving average is $82.39 and its two-hundred day moving average is $80.27. AZZ Inc. has a 1 year low of $48.19 and a 1 year high of $97.98. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 72.16, a price-to-earnings-growth ratio of 1.28 and a beta of 1.25. 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 posted its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $409.50 million. During the same quarter in the prior year, the company earned $1.27 EPS. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. As a group, analysts predict 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. Stockholders of record on Friday, October 18th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, October 18th. AZZ's dividend payout ratio (DPR) is currently 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.