6,382 Shares in AZZ Inc. (NYSE:AZZ) Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC bought a new position in shares of AZZ Inc. (NYSE:AZZ - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,382 shares of the industrial products company's stock, valued at approximately $534,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in AZZ. US Bancorp DE increased its holdings in shares of AZZ by 39.0% in the 4th quarter. US Bancorp DE now owns 463 shares of the industrial products company's stock worth $38,000 after buying an additional 130 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of AZZ in the fourth quarter worth about $5,052,000. Amundi boosted its stake in shares of AZZ by 184.2% in the fourth quarter. Amundi now owns 14,920 shares of the industrial products company's stock worth $1,240,000 after acquiring an additional 9,671 shares during the period. HighTower Advisors LLC grew its holdings in shares of AZZ by 0.6% in the fourth quarter. HighTower Advisors LLC now owns 77,671 shares of the industrial products company's stock valued at $6,363,000 after purchasing an additional 450 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of AZZ by 32.4% during the 4th quarter. Farther Finance Advisors LLC now owns 515 shares of the industrial products company's stock worth $42,000 after acquiring an additional 126 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

AZZ Stock Performance

AZZ stock opened at $106.28 on Wednesday. The business has a 50 day moving average of $93.68 and a 200-day moving average of $89.42. AZZ Inc. has a 12-month low of $69.59 and a 12-month high of $113.58. The firm has a market cap of $3.19 billion, a PE ratio of 12.32 and a beta of 1.24. The company has a quick ratio of 1.10, a current ratio of 1.51 and a debt-to-equity ratio of 0.47.

AZZ (NYSE:AZZ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 9th. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.19. The company had revenue of $421,962 billion for the quarter, compared to the consensus estimate of $435.91 million. AZZ had a return on equity of 15.54% and a net margin of 16.40%. The firm's revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 earnings per share. As a group, sell-side analysts expect that AZZ Inc. will post 5.13 earnings per share for the current year.

AZZ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This is a boost from AZZ's previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 0.75%. AZZ's dividend payout ratio is 9.27%.

Insider Transactions at AZZ

In other AZZ news, CEO Thomas E. Ferguson sold 26,889 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $85.88, for a total transaction of $2,309,227.32. Following the completion of the sale, the chief executive officer directly owned 211,458 shares in the company, valued at approximately $18,160,013.04. The trade was a 11.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.77% of the company's stock.

Analysts Set New Price Targets

AZZ has been the subject of a number of research reports. Sidoti cut AZZ from a "buy" rating to a "neutral" rating and set a $101.00 price target for the company. in a research report on Monday, June 9th. Robert W. Baird increased their target price on AZZ from $90.00 to $110.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Wall Street Zen upgraded shares of AZZ from a "hold" rating to a "buy" rating in a research report on Saturday. Evercore ISI increased their price objective on AZZ from $90.00 to $108.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, Noble Financial reissued an "outperform" rating on shares of AZZ in a research report on Monday. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $108.00.

About AZZ

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.

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