Bank of America Corp DE increased its position in shares of AZZ Inc (NYSE:AZZ) by 80.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,003 shares of the industrial products company’s stock after buying an additional 16,522 shares during the period. Bank of America Corp DE’s holdings in AZZ were worth $1,493,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in AZZ. NumerixS Investment Technologies Inc purchased a new stake in AZZ during the 4th quarter worth $36,000. Quantamental Technologies LLC acquired a new position in AZZ during the 4th quarter worth $83,000. Mackay Shields LLC acquired a new position in AZZ during the 4th quarter worth $202,000. GSA Capital Partners LLP grew its holdings in AZZ by 37.5% during the 4th quarter. GSA Capital Partners LLP now owns 9,092 shares of the industrial products company’s stock worth $367,000 after acquiring an additional 2,481 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new position in AZZ during the 4th quarter worth $400,000. 88.55% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research raised shares of AZZ from a “sell” rating to a “hold” rating in a report on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. AZZ currently has a consensus rating of “Hold” and a consensus price target of $55.33.
Shares of AZZ stock opened at $47.78 on Thursday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 35.39 and a beta of 1.42. The company has a quick ratio of 1.97, a current ratio of 2.87 and a debt-to-equity ratio of 0.46. AZZ Inc has a 1-year low of $37.43 and a 1-year high of $56.05.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Tuesday, April 23rd. AZZ’s dividend payout ratio is currently 50.37%.
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AZZ Company Profile
AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.
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