Y Intercept Hong Kong Ltd Takes $448,000 Position in AZZ Inc. (NYSE:AZZ)

Y Intercept Hong Kong Ltd acquired a new stake in AZZ Inc. (NYSE:AZZ) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,426 shares of the industrial products company’s stock, valued at approximately $448,000.

A number of other institutional investors also recently bought and sold shares of AZZ. Delphi Management Inc. MA raised its holdings in shares of AZZ by 11.9% in the second quarter. Delphi Management Inc. MA now owns 23,685 shares of the industrial products company’s stock worth $1,830,000 after buying an additional 2,521 shares during the last quarter. Rhumbline Advisers increased its position in shares of AZZ by 8.7% in the 2nd quarter. Rhumbline Advisers now owns 85,547 shares of the industrial products company’s stock valued at $6,608,000 after acquiring an additional 6,847 shares during the period. Federated Hermes Inc. raised its stake in AZZ by 81,999.5% in the 2nd quarter. Federated Hermes Inc. now owns 153,526 shares of the industrial products company’s stock worth $11,860,000 after acquiring an additional 153,339 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in AZZ by 25.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 59,716 shares of the industrial products company’s stock worth $4,613,000 after acquiring an additional 12,226 shares during the period. Finally, Tredje AP fonden purchased a new stake in AZZ during the 2nd quarter valued at about $1,700,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised their price objective on AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.80.

AZZ Price Performance

NYSE:AZZ opened at $93.75 on Monday. The firm’s fifty day moving average is $85.21 and its two-hundred day moving average is $81.27. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 73.24, a PEG ratio of 1.33 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 $52.90 and a one year high of $97.98.

AZZ (NYSE:AZZ) last issued its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $409.01 million for the quarter, compared to the consensus estimate of $409.50 million. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.27 earnings per share. Research analysts expect that AZZ Inc. will post 5.08 EPS for the current year.

AZZ Dividend Announcement

The company 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. 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 is currently 53.13%.

AZZ 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.