Transcendent Capital Group LLC Buys Shares of 6,263 AZZ Inc. $AZZ

Key Points

• Transcendent Capital Group LLC acquired 6,263 shares of AZZ Inc., valued at approximately $592,000, during the 2nd quarter.
• AZZ Inc. will pay a quarterly dividend of $0.20 per share to shareholders on record as of October 16th, representing an annualized yield of 0.8%.
• Insider trading activity included the sale of 46,837 shares by company insiders over the past three months, indicating a 38.05% decrease in insider ownership by one individual.

Transcendent Capital Group LLC bought a new stake in shares of AZZ Inc. (NYSE:AZZ - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,263 shares of the industrial products company's stock, valued at approximately $592,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake in AZZ by 39.6% during the 2nd quarter. GAMMA Investing LLC now owns 374 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 106 shares during the period. Signaturefd LLC lifted its stake in AZZ by 110.0% during the 1st quarter. Signaturefd LLC now owns 399 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 209 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in AZZ by 1,121.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 977 shares of the industrial products company's stock valued at $82,000 after acquiring an additional 897 shares during the period. Russell Investments Group Ltd. lifted its stake in AZZ by 140.1% during the 1st quarter. Russell Investments Group Ltd. now owns 1,095 shares of the industrial products company's stock valued at $92,000 after acquiring an additional 639 shares during the period. Finally, CWM LLC lifted its stake in shares of AZZ by 97.0% in the 1st quarter. CWM LLC now owns 1,389 shares of the industrial products company's stock worth $116,000 after purchasing an additional 684 shares during the period. Institutional investors own 90.93% of the company's stock.

AZZ Trading Down 2.2%

AZZ stock opened at $98.58 on Friday. The firm has a 50 day moving average of $112.06 and a 200 day moving average of $99.31. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 9.48 and a beta of 1.30. AZZ Inc. has a 12-month low of $70.90 and a 12-month high of $119.95. The company has a current ratio of 1.51, a quick ratio of 1.10 and a debt-to-equity ratio of 0.47.

AZZ (NYSE:AZZ - Get Free Report) last released its earnings results on Tuesday, May 9th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter. The company had revenue of $129.87 million during the quarter. AZZ had a net margin of 19.69% and a return on equity of 15.71%. As a group, research analysts predict that AZZ Inc. will post 5.13 earnings per share for the current year.

AZZ Announces Dividend

The business 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 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, October 16th. AZZ's dividend payout ratio (DPR) is 7.69%.

Insider Buying and Selling at AZZ

In other AZZ news, insider Kurt L. Russell sold 10,321 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 $1,885,576.84. This trade represents a 38.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Bryan Lee Stovall sold 5,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $111.60, for a total transaction of $558,000.00. Following the sale, the chief operating officer directly owned 22,709 shares of the company's stock, valued at approximately $2,534,324.40. This trade represents a 18.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,837 shares of company stock valued at $5,195,318 in the last three months. 1.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AZZ shares. Noble Financial reiterated an "outperform" rating on shares of AZZ in a research note on Monday, July 14th. Wells Fargo & Company lowered their price objective on shares of AZZ from $128.00 to $121.00 and set an "overweight" rating on the stock in a research note on Friday. Evercore ISI increased their price objective on shares of AZZ from $90.00 to $108.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Wall Street Zen cut shares of AZZ from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Finally, Zacks Research cut shares of AZZ from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $115.43.

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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