Pullen Investment Management LLC Grows Stock Position in AZZ Inc. (NYSE:AZZ)

Pullen Investment Management LLC grew its holdings in shares of AZZ Inc. (NYSE:AZZ) by 15.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,119 shares of the industrial products company’s stock after purchasing an additional 1,740 shares during the quarter. Pullen Investment Management LLC’s holdings in AZZ were worth $1,084,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC increased its holdings in AZZ by 69.4% in the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 188 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in AZZ in the 2nd quarter worth approximately $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in AZZ in the 2nd quarter worth approximately $67,000. 1620 Investment Advisors Inc. purchased a new stake in AZZ in the 2nd quarter worth approximately $72,000. Finally, FSC Wealth Advisors LLC increased its holdings in AZZ by 38.6% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

AZZ Stock Up 0.5 %

NYSE AZZ opened at $76.52 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 1.89. The company has a market capitalization of $2.28 billion, a P/E ratio of 71.51, a P/E/G ratio of 1.18 and a beta of 1.23. AZZ Inc. has a one year low of $45.62 and a one year high of $88.67. The stock has a 50 day moving average price of $79.52 and a 200-day moving average price of $78.78.

AZZ (NYSE:AZZ) last posted its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $409.01 million during the quarter, compared to the consensus estimate of $409.50 million. AZZ had a return on equity of 18.19% and a net margin of 7.63%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 EPS. As a group, equities analysts predict that AZZ Inc. will post 4.95 EPS for the current fiscal year.

AZZ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, October 18th. AZZ’s payout ratio is 63.55%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AZZ. Baird R W raised shares of AZZ to a “hold” rating in a report on Tuesday, July 23rd. Wolfe Research began coverage on shares of AZZ in a report on Wednesday, July 31st. They issued a “peer perform” rating for the company. B. Riley increased their target price on shares of AZZ from $89.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Robert W. Baird began coverage on shares of AZZ in a report on Tuesday, July 23rd. They issued a “neutral” rating and a $90.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.