AZZ Inc. (NYSE:AZZ) Holdings Trimmed by Connor Clark & Lunn Investment Management Ltd.

Posted by Defense World Staff on Aug 23rd, 2023

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of AZZ Inc. (NYSE:AZZ – Free Report) by 15.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,889 shares of the industrial products company’s stock after selling 4,689 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of AZZ worth $1,068,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. State of Wyoming bought a new position in AZZ during the fourth quarter valued at about $29,000. Tower Research Capital LLC TRC lifted its holdings in shares of AZZ by 557.7% during the first quarter. Tower Research Capital LLC TRC now owns 1,848 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 1,567 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of AZZ during the second quarter valued at $93,000. Captrust Financial Advisors lifted its holdings in shares of AZZ by 31.5% during the first quarter. Captrust Financial Advisors now owns 2,431 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 583 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of AZZ by 44.1% during the third quarter. UBS Group AG now owns 3,538 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 1,083 shares during the last quarter. Institutional investors own 87.56% of the company’s stock.

AZZ Stock Up 0.6 %

Shares of AZZ stock opened at $47.29 on Wednesday. The stock has a 50-day moving average price of $43.61 and a 200 day moving average price of $40.54. The company has a market cap of $1.18 billion, a P/E ratio of -23.65 and a beta of 1.32. The company has a current ratio of 2.27, a quick ratio of 1.46 and a debt-to-equity ratio of 1.19. AZZ Inc. has a 1 year low of $30.21 and a 1 year high of $47.74.

AZZ (NYSE:AZZ – Get Free Report) last announced its quarterly earnings data on Monday, July 10th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). The business had revenue of $390.87 million during the quarter, compared to analysts’ expectations of $396.65 million. AZZ had a positive return on equity of 11.93% and a negative net margin of 3.22%. The firm’s revenue was up 88.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share.

AZZ Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Wednesday, July 12th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Tuesday, July 11th. AZZ’s dividend payout ratio (DPR) is presently -34.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com assumed coverage on AZZ in a report on Thursday, August 17th. They set a “hold” rating for the company. Noble Financial assumed coverage on AZZ in a report on Monday. They set an “outperform” rating and a $60.00 target price for the company. Finally, TheStreet raised AZZ from a “c+” rating to a “b-” rating in a report on Monday, July 10th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, AZZ presently has an average rating of “Moderate Buy” and a consensus target price of $52.33.

View Our Latest Stock Analysis on AZZ

AZZ Profile

(Free Report)

AZZ Inc provides hot-dip galvanizing and coil coating solutions in the United States, Canada, Brazil, China, the Netherlands, Poland, Singapore, and India. The company operates through AZZ Metal Coatings and AZZ Precoat Metals segments. The AZZ Metal Coatings segment offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries.

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Institutional Ownership by Quarter for AZZ (NYSE:AZZ)

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