Northpointe Capital LLC Has $187,000 Position in AZZ Inc. (AZZ)
Northpointe Capital LLC continued to hold its stake in AZZ Inc. (NYSE:AZZ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,119 shares of the company’s stock at the end of the second quarter. Northpointe Capital LLC’s holdings in AZZ were worth $187,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its stake in AZZ by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,500 shares of the company’s stock worth $690,000 after buying an additional 100 shares during the last quarter. Kennedy Capital Management Inc. increased its stake in AZZ by 0.9% in the first quarter. Kennedy Capital Management Inc. now owns 72,073 shares of the company’s stock worth $4,079,000 after buying an additional 671 shares during the last quarter. Capstone Asset Management Co. increased its stake in AZZ by 10.3% in the second quarter. Capstone Asset Management Co. now owns 10,566 shares of the company’s stock worth $634,000 after buying an additional 990 shares during the last quarter. BlackRock Inc. increased its stake in AZZ by 131.3% in the first quarter. BlackRock Inc. now owns 1,876 shares of the company’s stock worth $106,000 after buying an additional 1,065 shares during the last quarter. Finally, Hancock Holding Co. increased its stake in AZZ by 0.9% in the first quarter. Hancock Holding Co. now owns 157,365 shares of the company’s stock worth $8,907,000 after buying an additional 1,360 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.
Shares of AZZ Inc. (NYSE:AZZ) traded down 4.27% on Friday, hitting $55.82. 438,372 shares of the stock traded hands. The firm has a market capitalization of $1.45 billion, a PE ratio of 18.61 and a beta of 1.34. The firm’s 50 day moving average is $64.66 and its 200 day moving average is $60.34. AZZ Inc. has a 52 week low of $47.04 and a 52 week high of $67.98.
AZZ (NYSE:AZZ) last issued its quarterly earnings results on Wednesday, October 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.72 by $0.17. AZZ had a return on equity of 15.84% and a net margin of 7.88%. The business had revenue of $195 million for the quarter, compared to analyst estimates of $225.43 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, analysts expect that AZZ Inc. will post $3.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, October 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.22%. This is a boost from AZZ’s previous quarterly dividend of $0.15. AZZ’s payout ratio is currently 22.06%.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of AZZ from a “hold” rating to a “strong sell” rating in a research report on Friday. DA Davidson restated a “hold” rating and set a $55.00 price target on shares of AZZ in a research note on Wednesday, July 6th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $60.00.
In other news, Director Wallace P. Eisman acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was purchased at an average price of $62.27 per share, for a total transaction of $62,270.00. Following the completion of the acquisition, the director now owns 4,641 shares in the company, valued at $288,995.07. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Timothy E. Pendley sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $62.02, for a total transaction of $74,424.00. Following the transaction, the senior vice president now owns 30,980 shares of the company’s stock, valued at approximately $1,921,379.60. The disclosure for this sale can be found here. Corporate insiders own 0.01% of the company’s stock.
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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