AZZ Inc. (NYSE:AZZ) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC decreased its position in AZZ Inc. (NYSE:AZZ - Free Report) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 710,219 shares of the industrial products company's stock after selling 10,678 shares during the period. AZZ accounts for approximately 0.8% of Segall Bryant & Hamill LLC's investment portfolio, making the stock its 12th largest position. Segall Bryant & Hamill LLC owned 2.38% of AZZ worth $58,671,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new position in AZZ in the third quarter valued at about $611,000. Chesapeake Capital Corp IL lifted its holdings in shares of AZZ by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 16,540 shares of the industrial products company's stock worth $1,361,000 after acquiring an additional 3,609 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of 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 purchasing an additional 12,451 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of AZZ by 9.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 23,997 shares of the industrial products company's stock worth $1,982,000 after purchasing an additional 2,114 shares during the period. Finally, Summit Global Investments acquired a new stake in AZZ in the 3rd quarter valued at approximately $272,000. Institutional investors and hedge funds own 90.93% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AZZ. Baird R W upgraded AZZ to a "hold" rating in a research report on Tuesday, July 23rd. Wolfe Research initiated coverage on AZZ in a report on Wednesday, July 31st. They set a "peer perform" rating for the company. Finally, Robert W. Baird started coverage on shares of AZZ in a research report on Tuesday, July 23rd. They set a "neutral" rating and a $90.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, AZZ currently has an average rating of "Moderate Buy" and an average target price of $95.80.

AZZ Stock Up 0.4 %

NYSE AZZ traded up $0.33 during trading hours on Wednesday, hitting $87.25. 62,002 shares of the company were exchanged, compared to its average volume of 228,023. The company has a 50 day moving average of $80.44 and a two-hundred day moving average of $79.52. The company has a quick ratio of 1.32, a current ratio of 1.85 and a debt-to-equity ratio of 0.91. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 67.91, a PEG ratio of 1.16 and a beta of 1.25. AZZ Inc. has a 52-week low of $48.03 and a 52-week high of $88.67.

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 for the quarter, topping analysts' consensus estimates of $1.32 by $0.05. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The firm had revenue of $409.01 million for the quarter, compared to analyst estimates of $409.50 million. During the same period in the prior year, the firm earned $1.27 earnings per share. The business's quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that AZZ Inc. will post 5.11 earnings per share for the current 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 issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.78%. The ex-dividend date was Friday, October 18th. AZZ's dividend payout ratio (DPR) 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.