Nationwide Fund Advisors Has $1,718,000 Position in AZZ Inc. (AZZ)
Nationwide Fund Advisors lowered its stake in shares of AZZ Inc. (NYSE:AZZ) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 28,642 shares of the company’s stock after selling 343 shares during the period. Nationwide Fund Advisors owned 0.11% of AZZ worth $1,718,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in shares of AZZ by 12.7% in the second quarter. Advisors Asset Management Inc. now owns 1,737 shares of the company’s stock valued at $104,000 after buying an additional 196 shares in the last quarter. BlackRock Inc. boosted its stake in shares of AZZ by 131.3% in the first quarter. BlackRock Inc. now owns 1,876 shares of the company’s stock valued at $106,000 after buying an additional 1,065 shares in the last quarter. Stanley Laman Group Ltd. bought a new stake in shares of AZZ during the second quarter valued at $208,000. Adams Diversified Equity Fund Inc. bought a new stake in shares of AZZ during the second quarter valued at $462,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of AZZ by 99.8% in the second quarter. BNP Paribas Arbitrage SA now owns 8,826 shares of the company’s stock valued at $529,000 after buying an additional 4,409 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.
AZZ Inc. (NYSE:AZZ) traded down 0.13% on Friday, reaching $54.60. The company’s stock had a trading volume of 161,392 shares. AZZ Inc. has a one year low of $47.04 and a one year high of $67.98. The company has a market capitalization of $1.42 billion, a PE ratio of 20.16 and a beta of 1.34. The firm has a 50-day moving average of $62.92 and a 200-day moving average of $60.26.
AZZ (NYSE:AZZ) last issued its earnings results on Wednesday, October 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm earned $195 million during the quarter, compared to the consensus estimate of $225.43 million. During the same period last year, the firm posted $0.67 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. Analysts predict that AZZ Inc. will post $3.31 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.25%. This is a boost from AZZ’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, October 14th. AZZ’s payout ratio is 22.06%.
A number of research analysts have commented on AZZ shares. Zacks Investment Research raised AZZ from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Thursday, July 7th. DA Davidson reaffirmed a “hold” rating and set a $55.00 price target on shares of AZZ in a research report on Wednesday, July 6th.
In related news, VP Robert Joseph Steines purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 13th. The stock was bought at an average price of $54.54 per share, for a total transaction of $54,540.00. Following the completion of the transaction, the vice president now owns 2,625 shares in the company, valued at approximately $143,167.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy E. Pendley sold 1,200 shares of AZZ stock in a transaction dated 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 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. 0.01% of the stock is owned by 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.
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