TD Asset Management Inc Has $4.49 Million Position in AZZ Inc. $AZZ

Key Points

• TD Asset Management Inc decreased its stake in AZZ Inc. by 9.5%, owning approximately $4.49 million worth of shares as of its latest SEC filing.
• AZZ Inc. has experienced significant analyst activity, with recommendations ranging from “buy” to “hold”, and a current average price target of $115.43.
• The company announced a quarterly dividend of $0.20 per share, with an upcoming payment date on November 6th, highlighting a yield of 0.8%.

TD Asset Management Inc lowered its holdings in shares of AZZ Inc. (NYSE:AZZ - Free Report) by 9.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,498 shares of the industrial products company's stock after selling 4,974 shares during the period. TD Asset Management Inc owned about 0.16% of AZZ worth $4,488,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in AZZ by 39.6% during the second quarter. GAMMA Investing LLC now owns 374 shares of the industrial products company's stock worth $35,000 after buying an additional 106 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of AZZ by 2.8% in the 1st quarter. Hsbc Holdings PLC now owns 4,220 shares of the industrial products company's stock valued at $353,000 after purchasing an additional 113 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of AZZ by 4.2% in the 1st quarter. Cerity Partners LLC now owns 3,606 shares of the industrial products company's stock valued at $302,000 after purchasing an additional 146 shares in the last quarter. Oliver Luxxe Assets LLC boosted its stake in shares of AZZ by 1.0% in the 1st quarter. Oliver Luxxe Assets LLC now owns 17,528 shares of the industrial products company's stock valued at $1,466,000 after purchasing an additional 176 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of AZZ by 110.0% in the 1st quarter. Signaturefd LLC now owns 399 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 209 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company's stock.

Analyst Upgrades and Downgrades

AZZ has been the topic of several recent analyst reports. B. Riley boosted their target price on shares of AZZ from $131.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, September 17th. Wall Street Zen downgraded shares of AZZ from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Robert W. Baird boosted their target price on shares of AZZ from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. Zacks Research downgraded shares of AZZ from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Wells Fargo & Company cut their price target on AZZ from $128.00 to $121.00 and set an "overweight" rating for the company in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $115.43.

Insider Activity

In other AZZ news, insider Kurt L. Russell sold 10,321 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $112.21, for a total transaction of $1,158,119.41. Following the completion of the sale, the insider directly owned 16,804 shares of the company's stock, valued at approximately $1,885,576.84. The trade was a 38.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Bryan Lee Stovall sold 5,000 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $111.60, for a total value of $558,000.00. Following the sale, the chief operating officer directly owned 22,709 shares of the company's stock, valued at $2,534,324.40. This represents a 18.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.77% of the company's stock.

AZZ Stock Performance

AZZ stock opened at $98.17 on Tuesday. The stock has a 50-day simple moving average of $110.90 and a 200 day simple moving average of $100.09. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.44. AZZ Inc. has a 12-month low of $70.90 and a 12-month high of $119.95. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 9.44 and a beta of 1.30.

AZZ (NYSE:AZZ - Get Free Report) last released its quarterly earnings results on Tuesday, May 9th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter. AZZ had a return on equity of 15.01% and a net margin of 19.69%.The business had revenue of $129.87 million during the quarter. On average, research analysts anticipate that AZZ Inc. will post 5.13 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, October 16th. AZZ's payout ratio is currently 7.69%.

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.

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