Tidal Investments LLC Grows Holdings in AZZ Inc. (NYSE:AZZ)

Tidal Investments LLC grew its holdings in AZZ Inc. (NYSE:AZZ) by 22.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,073 shares of the industrial products company’s stock after purchasing an additional 3,673 shares during the period. Tidal Investments LLC owned about 0.07% of AZZ worth $1,658,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP bought a new position in shares of AZZ during the 3rd quarter worth $61,139,000. FMR LLC grew its position in shares of AZZ by 13.6% during the 3rd quarter. FMR LLC now owns 3,223,391 shares of the industrial products company’s stock worth $266,284,000 after buying an additional 385,240 shares in the last quarter. Federated Hermes Inc. grew its position in shares of AZZ by 81,999.5% during the 2nd quarter. Federated Hermes Inc. now owns 153,526 shares of the industrial products company’s stock worth $11,860,000 after buying an additional 153,339 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of AZZ during the 2nd quarter worth $8,443,000. Finally, Millennium Management LLC grew its position in shares of AZZ by 1,822.5% during the 2nd quarter. Millennium Management LLC now owns 72,650 shares of the industrial products company’s stock worth $5,612,000 after buying an additional 68,871 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

AZZ Price Performance

Shares of AZZ stock opened at $89.95 on Wednesday. AZZ Inc. has a 1-year low of $53.12 and a 1-year high of $97.98. The stock’s 50-day moving average is $85.65 and its 200 day moving average is $81.37. The company has a market cap of $2.69 billion, a P/E ratio of 70.27, a PEG ratio of 1.33 and a beta of 1.30. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.85 and a quick ratio of 1.32.

AZZ (NYSE:AZZ) last issued its quarterly earnings data on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The company had revenue of $409.01 million for the quarter, compared to the consensus estimate of $409.50 million. During the same quarter last year, the company earned $1.27 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts predict that AZZ Inc. will post 5.08 earnings per share for the current fiscal year.

AZZ Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Friday, October 18th. AZZ’s payout ratio is currently 53.13%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group increased their price target on AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.80.

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.