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

Segall Bryant & Hamill LLC cut its stake in AZZ Inc. (NYSE:AZZ) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 710,219 shares of the industrial products company’s stock after selling 10,678 shares during the period. AZZ comprises about 0.8% of Segall Bryant & Hamill LLC’s holdings, making the stock its 12th largest holding. Segall Bryant & Hamill LLC owned about 2.38% of AZZ worth $58,671,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in shares of AZZ by 3,790.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock valued at $32,000 after buying an additional 379 shares during the period. CWM LLC grew its holdings in AZZ by 69.4% during 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 shares of AZZ in the 2nd quarter valued at approximately $52,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AZZ in the 2nd quarter valued at $67,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of AZZ during the second quarter worth $72,000. 90.93% of the stock is owned by institutional investors and hedge funds.

AZZ Price Performance

AZZ stock opened at $86.92 on Wednesday. The stock’s fifty day simple moving average is $80.44 and its 200-day simple moving average is $79.52. The company has a quick ratio of 1.32, a current ratio of 1.85 and a debt-to-equity ratio of 0.91. AZZ Inc. has a 52-week low of $48.03 and a 52-week high of $88.67. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 67.91, a price-to-earnings-growth ratio of 1.16 and a beta of 1.25.

AZZ (NYSE:AZZ) last released its earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping 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 business had revenue of $409.01 million for the quarter, compared to analysts’ expectations of $409.50 million. During the same period last year, the company earned $1.27 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts expect that AZZ Inc. will post 5.11 EPS for the current year.

AZZ Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.78%. AZZ’s payout ratio is 53.13%.

Wall Street Analysts Forecast Growth

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

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.