Tower Research Capital LLC TRC Purchases Shares of 3,019 AZZ Inc. (AZZ)
Tower Research Capital LLC TRC purchased a new stake in AZZ Inc. (NYSE:AZZ) during the second quarter, Holdings Channel reports. The firm purchased 3,019 shares of the company’s stock, valued at approximately $181,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in AZZ by 4.1% in the second quarter. Vanguard Group Inc. now owns 2,007,890 shares of the company’s stock valued at $120,434,000 after buying an additional 78,992 shares in the last quarter. State Street Corp raised its position in 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 in the last quarter. Victory Capital Management Inc. raised its position in 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 in the last quarter. Neuberger Berman Group LLC purchased a new position in AZZ during the second quarter valued at approximately $15,038,000. Finally, Mutual of America Capital Management LLC raised its position in 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 in the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.
AZZ Inc. (NYSE:AZZ) opened at 65.96 on Tuesday. The company has a 50-day moving average price of $65.44 and a 200-day moving average price of $60.33. AZZ Inc. has a 12-month low of $47.04 and a 12-month high of $67.98. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 21.99 and a beta of 1.34.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be given a dividend of $0.17 per share. This is an increase from AZZ’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, October 14th. AZZ’s payout ratio is currently 19.93%.
Several research analysts have recently commented on AZZ shares. Zacks Investment Research lowered AZZ from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. DA Davidson restated a “hold” rating and set a $55.00 price target on shares of AZZ in a research report on Wednesday, July 6th. Five research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $60.00.
In other AZZ news, SVP Timothy E. Pendley sold 1,200 shares of the business’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $62.02, for a total value of $74,424.00. Following the completion of the transaction, the senior vice president now directly owns 30,980 shares in the company, valued at approximately $1,921,379.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wallace P. Eisman purchased 1,000 shares of the business’s stock in a transaction on Friday, July 15th. The stock was acquired at an average price of $62.27 per share, with a total value of $62,270.00. Following the completion of the acquisition, the director now directly owns 4,641 shares in the company, valued at approximately $288,995.07. The disclosure for this purchase can be found here. Corporate insiders own 0.01% of the company’s stock.
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.
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