Legal & General Group Plc boosted its stake in shares of AZZ Inc. (NYSE:AZZ) by 8.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,001 shares of the industrial products company’s stock after purchasing an additional 4,095 shares during the quarter. Legal & General Group Plc owned about 0.20% of AZZ worth $2,845,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Arizona State Retirement System boosted its position in AZZ by 0.7% during the second quarter. Arizona State Retirement System now owns 13,616 shares of the industrial products company’s stock worth $760,000 after purchasing an additional 100 shares during the period. Schwab Charles Investment Management Inc. boosted its position in AZZ by 6.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 155,075 shares of the industrial products company’s stock worth $8,654,000 after purchasing an additional 10,077 shares during the period. TD Asset Management Inc. boosted its position in AZZ by 8.9% during the second quarter. TD Asset Management Inc. now owns 26,800 shares of the industrial products company’s stock worth $1,495,000 after purchasing an additional 2,200 shares during the period. Texas Permanent School Fund boosted its position in AZZ by 1.2% during the second quarter. Texas Permanent School Fund now owns 19,013 shares of the industrial products company’s stock worth $1,061,000 after purchasing an additional 222 shares during the period. Finally, Moody Aldrich Partners LLC boosted its position in AZZ by 31.7% during the second quarter. Moody Aldrich Partners LLC now owns 12,750 shares of the industrial products company’s stock worth $711,000 after purchasing an additional 3,070 shares during the period. 85.34% of the stock is owned by hedge funds and other institutional investors.

In other AZZ news, insider Thomas E. Ferguson bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were acquired at an average cost of $49.59 per share, with a total value of $247,950.00. Following the acquisition, the insider now owns 49,037 shares of the company’s stock, valued at $2,431,744.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul Wesley Fehlman bought 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were acquired at an average cost of $49.31 per share, for a total transaction of $73,965.00. Following the completion of the acquisition, the chief financial officer now directly owns 9,287 shares in the company, valued at approximately $457,941.97. The disclosure for this purchase can be found here. 0.01% of the stock is currently owned by insiders.

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A number of brokerages have issued reports on AZZ. Zacks Investment Research raised AZZ from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Stifel Nicolaus reduced their price objective on AZZ from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Friday, July 7th. BidaskClub cut AZZ from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, TheStreet cut AZZ from a “b” rating to a “c+” rating in a research report on Friday, July 7th.

Shares of AZZ Inc. (NYSE:AZZ) opened at 51.30 on Tuesday. AZZ Inc. has a 52-week low of $46.20 and a 52-week high of $67.70. The stock has a 50 day moving average price of $49.00 and a 200 day moving average price of $54.23. The company has a market capitalization of $1.33 billion, a PE ratio of 25.26 and a beta of 1.58.

AZZ (NYSE:AZZ) last posted its earnings results on Thursday, July 6th. The industrial products company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.19). The business had revenue of $208.60 million for the quarter, compared to analyst estimates of $225.08 million. AZZ had a return on equity of 10.98% and a net margin of 6.44%. The firm’s revenue was down 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 earnings per share. On average, analysts predict that AZZ Inc. will post $2.62 earnings per share for the current fiscal year.

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.

Institutional Ownership by Quarter for AZZ (NYSE:AZZ)

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