Harvey Investment Co. LLC Has $325,000 Position in AZZ Inc. (AZZ)
Harvey Investment Co. LLC decreased its position in shares of AZZ Inc. (NYSE:AZZ) by 23.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,680 shares of the industrial products company’s stock after selling 2,000 shares during the quarter. Harvey Investment Co. LLC’s holdings in AZZ were worth $325,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AZZ. UBS Asset Management Americas Inc. lifted its stake in shares of AZZ by 152.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 12,672 shares of the industrial products company’s stock valued at $754,000 after buying an additional 7,646 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of AZZ during the 1st quarter valued at $282,000. Sei Investments Co. lifted its stake in shares of AZZ by 90.2% during the 1st quarter. Sei Investments Co. now owns 7,480 shares of the industrial products company’s stock valued at $445,000 after buying an additional 3,547 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of AZZ by 15.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 27,366 shares of the industrial products company’s stock valued at $1,628,000 after buying an additional 3,600 shares in the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of AZZ during the 1st quarter valued at $133,000. Institutional investors own 85.44% of the company’s stock.
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A number of research analysts recently weighed in on the stock. Stifel Nicolaus lowered their target price on shares of AZZ from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Friday, July 7th. BidaskClub cut shares of AZZ from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research cut shares of AZZ from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Finally, TheStreet cut shares of AZZ from a “b” rating to a “c+” rating in a research note on Friday, July 7th.
Shares of AZZ Inc. (NYSE:AZZ) traded up 0.32% during mid-day trading on Friday, reaching $47.20. 141,289 shares of the company’s stock were exchanged. AZZ Inc. has a 1-year low of $44.80 and a 1-year high of $67.70. The stock has a market capitalization of $1.23 billion, a PE ratio of 23.96 and a beta of 1.52. The company’s 50 day moving average is $48.49 and its 200 day moving average is $52.67.
AZZ (NYSE:AZZ) last posted its quarterly earnings data on Tuesday, October 3rd. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.09). The company had revenue of $190.40 million for the quarter, compared to analysts’ expectations of $193.70 million. AZZ had a net margin of 6.27% and a return on equity of 9.65%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. Equities research analysts anticipate that AZZ Inc. will post $1.93 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, October 17th. AZZ’s payout ratio is 34.52%.
AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.
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