KLP Kapitalforvaltning AS Invests $475,000 in AZZ Inc. (NYSE:AZZ)

KLP Kapitalforvaltning AS acquired a new stake in shares of AZZ Inc. (NYSE:AZZ - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 5,800 shares of the industrial products company's stock, valued at approximately $475,000.

A number of other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of AZZ by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,580 shares of the industrial products company's stock valued at $4,922,000 after acquiring an additional 1,411 shares during the last quarter. Atom Investors LP bought a new position in AZZ during the third quarter valued at $391,000. Centiva Capital LP grew its stake in shares of AZZ by 64.8% in the 3rd quarter. Centiva Capital LP now owns 6,650 shares of the industrial products company's stock worth $549,000 after buying an additional 2,614 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of AZZ by 9.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 7,800 shares of the industrial products company's stock worth $644,000 after buying an additional 700 shares during the last quarter. Finally, Point72 DIFC Ltd raised its position in shares of AZZ by 428.1% during the 3rd quarter. Point72 DIFC Ltd now owns 3,554 shares of the industrial products company's stock valued at $294,000 after buying an additional 2,881 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Remove Ads

AZZ Trading Down 1.0 %

AZZ stock traded down $0.79 during mid-day trading on Tuesday, hitting $75.18. The company's stock had a trading volume of 429,609 shares, compared to its average volume of 250,073. 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 company has a 50 day moving average of $89.29 and a 200-day moving average of $86.33. AZZ Inc. has a one year low of $69.59 and a one year high of $99.49. The stock has a market cap of $2.25 billion, a PE ratio of 50.79, a P/E/G ratio of 1.32 and a beta of 1.22.

AZZ (NYSE:AZZ - Get Free Report) last posted its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.29 by $0.10. The company had revenue of $403.65 million for the quarter, compared to the consensus estimate of $394.30 million. AZZ had a net margin of 7.94% and a return on equity of 16.99%. The firm's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 EPS. On average, research analysts anticipate that AZZ Inc. will post 5.13 EPS for the current year.

AZZ Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Thursday, January 30th. AZZ's dividend payout ratio (DPR) is presently 45.95%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AZZ. B. Riley lifted their price target on AZZ from $99.00 to $111.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Roth Capital raised AZZ to a "strong-buy" rating in a research report on Tuesday, February 11th. Noble Financial restated an "outperform" rating on shares of AZZ in a report on Thursday, March 6th. Finally, Roth Mkm assumed coverage on shares of AZZ in a research note on Tuesday, February 11th. They set a "buy" rating and a $108.00 price objective for the company. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.67.

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.