Dimensional Fund Advisors LP Lowers Stake in AZZ Inc. (AZZ)
Dimensional Fund Advisors LP reduced its stake in AZZ Inc. (NYSE:AZZ) by 6.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 987,519 shares of the company’s stock after selling 68,498 shares during the period. Dimensional Fund Advisors LP owned about 3.81% of AZZ worth $59,228,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. State Street Corp boosted its stake in shares of AZZ by 1.5% in the first quarter. State Street Corp now owns 512,865 shares of the company’s stock valued at $29,029,000 after buying an additional 7,440 shares during the period. Victory Capital Management Inc. boosted its stake in shares of AZZ by 0.3% in the second quarter. Victory Capital Management Inc. now owns 511,809 shares of the company’s stock valued at $30,699,000 after buying an additional 1,363 shares during the period. Neuberger Berman Group LLC purchased a new stake in shares of AZZ during the second quarter valued at about $15,038,000. Mutual of America Capital Management LLC boosted its stake in shares of AZZ by 2.2% in the second quarter. Mutual of America Capital Management LLC now owns 244,377 shares of the company’s stock valued at $14,658,000 after buying an additional 5,174 shares during the period. Finally, Hancock Holding Co. boosted its stake in shares of AZZ by 0.9% in the first quarter. Hancock Holding Co. now owns 157,365 shares of the company’s stock valued at $8,907,000 after buying an additional 1,360 shares during the period. 84.08% of the stock is currently owned by hedge funds and other institutional investors.
AZZ Inc. (NYSE:AZZ) traded down 0.7174% on Tuesday, reaching $65.4868. The company had a trading volume of 29,713 shares. AZZ Inc. has a 1-year low of $47.04 and a 1-year high of $67.98. The firm has a market capitalization of $1.70 billion, a P/E ratio of 21.8289 and a beta of 1.34. The company’s 50-day moving average price is $65.44 and its 200 day moving average price is $60.33.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 18th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.03%. This is a positive change from AZZ’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, October 14th. AZZ’s dividend payout ratio is presently 19.93%.
AZZ has been the topic of several research reports. Zacks Investment Research cut AZZ from a “buy” rating to a “hold” rating in a report on Friday, July 8th. DA Davidson reaffirmed a “hold” rating and issued a $55.00 target price on shares of AZZ in a report on Wednesday, July 6th. Five analysts have rated the stock with a hold rating, AZZ has an average rating of “Hold” and an average target price of $60.00.
In other news, SVP Timothy E. Pendley sold 1,200 shares of the stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $62.02, for a total transaction of $74,424.00. Following the sale, the senior vice president now directly owns 30,980 shares of the company’s stock, valued at approximately $1,921,379.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Wallace P. Eisman bought 1,000 shares of the stock in a transaction dated Friday, July 15th. The shares were purchased at an average cost of $62.27 per share, for a total transaction of $62,270.00. Following the completion of the purchase, the director now owns 4,641 shares in the company, valued at $288,995.07. The disclosure for this purchase can be found here. 0.01% of the stock is currently owned by company insiders.
AZZ Company 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.
Receive News & Ratings for AZZ Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AZZ Inc. and related companies with MarketBeat.com's FREE daily email newsletter.