Segall Bryant & Hamill LLC Cuts Position in AZZ Inc. (NYSE:AZZ)

Segall Bryant & Hamill LLC reduced its holdings in shares of AZZ Inc. (NYSE:AZZ) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 710,219 shares of the industrial products company’s stock after selling 10,678 shares during the quarter. AZZ accounts for 0.8% of Segall Bryant & Hamill LLC’s portfolio, making the stock its 12th largest position. Segall Bryant & Hamill LLC’s holdings in AZZ were worth $58,671,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC raised its position in AZZ by 3,790.0% in the third quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 379 shares during the period. CWM LLC grew its stake in shares of AZZ by 69.4% in the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock valued at $35,000 after buying an additional 188 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of AZZ during the 2nd quarter valued at about $52,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in AZZ in the second quarter valued at approximately $67,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of AZZ during the second quarter worth $72,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Stock Performance

AZZ stock opened at $86.92 on Wednesday. The company has a market cap of $2.60 billion, a PE ratio of 67.91, a P/E/G ratio of 1.16 and a beta of 1.25. AZZ Inc. has a 12 month low of $48.03 and a 12 month high of $88.67. The company has a fifty day moving average price of $80.44 and a two-hundred day moving average price of $79.52. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.85 and a quick ratio of 1.32.

AZZ (NYSE:AZZ) last issued its quarterly earnings data 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. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The firm had revenue of $409.01 million during the quarter, compared to the consensus estimate of $409.50 million. During the same period in the prior year, the business earned $1.27 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. Research analysts expect 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 given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Friday, October 18th. AZZ’s dividend payout ratio is currently 53.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AZZ shares. Baird R W raised shares of AZZ to a “hold” rating in a report on Tuesday, July 23rd. Robert W. Baird assumed coverage on shares of AZZ in a research report on Tuesday, July 23rd. They set a “neutral” rating and a $90.00 price target for the company. Finally, Wolfe Research started coverage on shares of AZZ in a research note on Wednesday, July 31st. They set a “peer perform” rating on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.80.

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.