24,679 Shares in AZZ Inc. (NYSE:AZZ) Acquired by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP acquired a new position in shares of AZZ Inc. (NYSE:AZZ) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 24,679 shares of the industrial products company’s stock, valued at approximately $2,039,000. Advantage Alpha Capital Partners LP owned 0.08% of AZZ at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZZ. Farther Finance Advisors LLC lifted its holdings in shares of AZZ by 3,790.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 379 shares during the period. CWM LLC raised its position in AZZ by 69.4% during the second quarter. CWM LLC now owns 459 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 188 shares in the last quarter. Point72 DIFC Ltd bought a new stake in AZZ during the second quarter worth $52,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AZZ in the 2nd quarter valued at $67,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of AZZ in the 2nd quarter valued at $72,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wolfe Research began coverage on AZZ in a research report on Wednesday, July 31st. They set a “peer perform” rating for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, AZZ currently has an average rating of “Moderate Buy” and a consensus target price of $95.80.

AZZ Stock Performance

NYSE AZZ opened at $95.33 on Tuesday. The firm’s fifty day moving average price is $81.76 and its two-hundred day moving average price is $80.01. The stock has a market cap of $2.85 billion, a PE ratio of 74.48, a PEG ratio of 1.34 and a beta of 1.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85. AZZ Inc. has a fifty-two week low of $48.03 and a fifty-two week high of $97.98.

AZZ (NYSE:AZZ) last issued its quarterly earnings data on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The business had revenue of $409.01 million for the quarter, compared to analyst estimates of $409.50 million. AZZ had a return on equity of 16.88% and a net margin of 7.63%. AZZ’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 EPS. On average, equities analysts expect that AZZ Inc. will post 5.11 EPS for the current fiscal year.

AZZ Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.68 annualized dividend and a yield of 0.71%. AZZ’s dividend payout ratio is presently 53.13%.

About AZZ

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.