Parkside Financial Bank & Trust Raises Position in AZZ Inc. (NYSE:AZZ)

Parkside Financial Bank & Trust grew its holdings in shares of AZZ Inc. (NYSE:AZZ) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,658 shares of the industrial products company’s stock after purchasing an additional 143 shares during the period. Parkside Financial Bank & Trust’s holdings in AZZ were worth $300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AZZ. Wakefield Asset Management LLLP purchased a new position in AZZ in the 4th quarter worth $1,008,000. Principal Financial Group Inc. raised its stake in AZZ by 4.7% in the 4th quarter. Principal Financial Group Inc. now owns 164,840 shares of the industrial products company’s stock worth $13,504,000 after acquiring an additional 7,422 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in AZZ by 0.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 24,151 shares of the industrial products company’s stock worth $1,978,000 after acquiring an additional 154 shares during the last quarter. Rhumbline Advisers raised its stake in AZZ by 6.4% in the 4th quarter. Rhumbline Advisers now owns 87,228 shares of the industrial products company’s stock worth $7,146,000 after acquiring an additional 5,247 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in AZZ in the 4th quarter worth $4,037,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

AZZ Price Performance

Shares of AZZ opened at $96.26 on Friday. The business’s 50-day moving average is $89.19 and its two-hundred day moving average is $85.10. The company has a market capitalization of $2.88 billion, a P/E ratio of 65.04, a P/E/G ratio of 1.32 and a beta of 1.30. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.77. AZZ Inc. has a fifty-two week low of $69.59 and a fifty-two week high of $99.49.

AZZ (NYSE:AZZ) last posted its earnings results on Tuesday, January 7th. The industrial products company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.10. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The firm had revenue of $403.65 million for the quarter, compared to analysts’ expectations of $394.30 million. During the same period last year, the firm earned $1.19 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Research analysts predict that AZZ Inc. will post 5.13 earnings per share for the current year.

AZZ Announces Dividend

The firm 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 0.71%. The ex-dividend date of this dividend was Thursday, January 30th. AZZ’s dividend payout ratio (DPR) is presently 45.95%.

Wall Street Analysts Forecast Growth

AZZ has been the subject of a number of research analyst reports. Jefferies Financial Group raised their target price on AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Roth Mkm initiated coverage on AZZ in a research note on Tuesday, February 11th. They issued a “buy” rating and a $108.00 target price for the company. Roth Capital upgraded AZZ to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, B. Riley increased 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. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $100.67.

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.