Scalar Gauge Management LLC Takes Position in AZZ Inc. (NYSE:AZZ)

Scalar Gauge Management LLC purchased a new position in shares of AZZ Inc. (NYSE:AZZ) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 23,000 shares of the industrial products company’s stock, valued at approximately $1,900,000. AZZ makes up about 1.0% of Scalar Gauge Management LLC’s portfolio, making the stock its 23rd largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC raised its stake in AZZ by 69.4% in the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 188 shares during the last quarter. Claro Advisors LLC raised its position in shares of AZZ by 7.7% in the second quarter. Claro Advisors LLC now owns 3,298 shares of the industrial products company’s stock valued at $255,000 after buying an additional 236 shares during the last quarter. FSC Wealth Advisors LLC boosted its position in AZZ by 38.6% during the second quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company’s stock worth $73,000 after acquiring an additional 265 shares during the last quarter. Pullen Investment Management LLC grew its stake in AZZ by 3.3% in the 2nd quarter. Pullen Investment Management LLC now owns 11,379 shares of the industrial products company’s stock worth $879,000 after acquiring an additional 368 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in 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 acquiring an additional 379 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

AZZ Stock Performance

AZZ stock opened at $93.33 on Friday. The stock has a fifty day moving average price of $82.39 and a 200 day moving average price of $80.27. The company has a current ratio of 1.85, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. AZZ Inc. has a 52 week low of $48.19 and a 52 week high of $97.98. The firm has a market capitalization of $2.79 billion, a P/E ratio of 72.16, a PEG ratio of 1.28 and a beta of 1.25.

AZZ (NYSE:AZZ) last announced its quarterly earnings data on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.05. AZZ had a net margin of 7.63% and a return on equity of 16.88%. The company had revenue of $409.01 million during the quarter, compared to analysts’ expectations of $409.50 million. During the same period in the previous year, the company earned $1.27 EPS. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend 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.