JPMorgan Chase & Co. Grows Position in AZZ Inc. (NYSE:AZZ)

JPMorgan Chase & Co. raised its holdings in shares of AZZ Inc. (NYSE:AZZ - Free Report) by 35.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 258,912 shares of the industrial products company's stock after buying an additional 68,131 shares during the quarter. JPMorgan Chase & Co. owned about 0.87% of AZZ worth $21,210,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AZZ. State Street Corp increased its position in shares of AZZ by 2.6% in the third quarter. State Street Corp now owns 1,100,189 shares of the industrial products company's stock worth $90,887,000 after purchasing an additional 27,710 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of AZZ by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 675,603 shares of the industrial products company's stock worth $55,823,000 after buying an additional 10,072 shares during the last quarter. Boston Partners raised its position in shares of AZZ by 5.4% during the 4th quarter. Boston Partners now owns 311,938 shares of the industrial products company's stock valued at $25,852,000 after buying an additional 15,952 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of AZZ by 4.7% during the 4th quarter. Principal Financial Group Inc. now owns 164,840 shares of the industrial products company's stock valued at $13,504,000 after buying an additional 7,422 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its holdings in shares of AZZ by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 131,500 shares of the industrial products company's stock worth $10,772,000 after acquiring an additional 8,400 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Remove Ads

AZZ Trading Down 1.2 %

Shares of NYSE AZZ traded down $0.96 during mid-day trading on Tuesday, hitting $81.42. The stock had a trading volume of 54,168 shares, compared to its average volume of 253,288. The business has a 50 day moving average price of $88.78 and a two-hundred day moving average price of $86.37. AZZ Inc. has a 1 year low of $69.59 and a 1 year high of $99.49. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.77. The firm has a market cap of $2.43 billion, a P/E ratio of 55.01, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22.

AZZ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 24th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Thursday, April 24th. AZZ's dividend payout ratio (DPR) is 45.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. B. Riley lifted their price target on AZZ from $99.00 to $111.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Roth Capital upgraded AZZ to a "strong-buy" rating in a research report on Tuesday, February 11th. Sidoti upgraded shares of AZZ from a "neutral" rating to a "buy" rating and set a $101.00 price target on the stock in a research report on Wednesday, April 9th. Noble Financial restated an "outperform" rating on shares of AZZ in a report on Thursday, March 6th. Finally, Roth Mkm initiated coverage on shares of AZZ in a research note on Tuesday, February 11th. They issued a "buy" rating and a $108.00 price objective for the company. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AZZ has a consensus rating of "Moderate Buy" and a consensus price target of $100.71.

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.