Bank of New York Mellon Corp Sells 9,401 Shares of AZZ Inc. (AZZ)

Bank of New York Mellon Corp lessened its holdings in shares of AZZ Inc. (NYSE:AZZ) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 372,884 shares of the industrial products company’s stock after selling 9,401 shares during the period. Bank of New York Mellon Corp owned approximately 1.43% of AZZ worth $20,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of AZZ by 138,433.7% during the first quarter. BlackRock Inc. now owns 3,100,385 shares of the industrial products company’s stock worth $184,473,000 after purchasing an additional 3,098,147 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of AZZ by 4.5% during the first quarter. Vanguard Group Inc. now owns 2,286,980 shares of the industrial products company’s stock worth $136,076,000 after purchasing an additional 97,870 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of AZZ by 30.6% during the first quarter. Neuberger Berman Group LLC now owns 1,706,121 shares of the industrial products company’s stock worth $101,514,000 after purchasing an additional 399,696 shares during the last quarter. Van Berkom & Associates Inc. raised its holdings in shares of AZZ by 7.6% during the second quarter. Van Berkom & Associates Inc. now owns 971,332 shares of the industrial products company’s stock worth $54,200,000 after purchasing an additional 68,910 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of AZZ by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 961,696 shares of the industrial products company’s stock worth $57,219,000 after purchasing an additional 20,519 shares during the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

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In other news, insider Thomas E. Ferguson acquired 5,000 shares of the business’s stock in a transaction on Tuesday, July 11th. The stock was bought at an average price of $49.59 per share, for a total transaction of $247,950.00. Following the transaction, the insider now owns 49,037 shares in the company, valued at $2,431,744.83. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul Wesley Fehlman acquired 1,500 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were purchased at an average price of $49.31 per share, with a total value of $73,965.00. Following the transaction, the chief financial officer now owns 9,287 shares in the company, valued at approximately $457,941.97. The disclosure for this purchase can be found here. 0.01% of the stock is owned by corporate insiders.

Several research analysts recently issued reports on the stock. BidaskClub cut shares of AZZ from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Stifel Nicolaus reissued a “hold” rating and set a $56.00 target price on shares of AZZ in a report on Thursday, September 7th. TheStreet cut shares of AZZ from a “b” rating to a “c+” rating in a report on Friday, July 7th. Finally, Zacks Investment Research raised shares of AZZ from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 21st.

AZZ Inc. (NYSE AZZ) opened at 51.05 on Friday. The stock has a market cap of $1.33 billion, a PE ratio of 25.14 and a beta of 1.58. AZZ Inc. has a one year low of $46.20 and a one year high of $67.70. The company’s 50 day moving average is $48.97 and its 200 day moving average is $54.37.

AZZ (NYSE:AZZ) last issued its quarterly earnings results on Thursday, July 6th. The industrial products company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.19). The business had revenue of $208.60 million for the quarter, compared to analyst estimates of $225.08 million. AZZ had a return on equity of 10.98% and a net margin of 6.44%. The firm’s revenue for the quarter was down 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. On average, equities research analysts expect that AZZ Inc. will post $2.62 EPS for the current year.

AZZ Profile

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.

Institutional Ownership by Quarter for AZZ (NYSE:AZZ)

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