Scalar Gauge Management LLC Buys Shares of 23,000 AZZ Inc. (NYSE:AZZ)

Scalar Gauge Management LLC purchased a new position in shares of AZZ Inc. (NYSE:AZZ) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 23,000 shares of the industrial products company’s stock, valued at approximately $1,900,000. AZZ accounts for 1.0% of Scalar Gauge Management LLC’s holdings, making the stock its 23rd largest position. Scalar Gauge Management LLC owned about 0.08% of AZZ as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of AZZ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AZZ by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,580 shares of the industrial products company’s stock valued at $4,922,000 after purchasing an additional 1,411 shares in the last quarter. Quantbot Technologies LP raised its stake in AZZ by 366.7% in the third quarter. Quantbot Technologies LP now owns 15,070 shares of the industrial products company’s stock valued at $1,245,000 after buying an additional 11,841 shares in the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in AZZ in the third quarter valued at $2,039,000. FMR LLC lifted its holdings in AZZ by 13.6% during the 3rd quarter. FMR LLC now owns 3,223,391 shares of the industrial products company’s stock worth $266,284,000 after buying an additional 385,240 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of AZZ by 258.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 12,689 shares of the industrial products company’s stock worth $1,048,000 after acquiring an additional 9,149 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

AZZ Trading Up 2.4 %

NYSE AZZ opened at $93.33 on Friday. The firm’s fifty day moving average price is $82.39 and its 200 day moving average price is $80.27. AZZ Inc. has a 12 month low of $48.19 and a 12 month high of $97.98. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.85 and a quick ratio of 1.32. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 72.16, a price-to-earnings-growth ratio of 1.28 and a beta of 1.25.

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, beating analysts’ consensus estimates of $1.32 by $0.05. The company had revenue of $409.01 million during the quarter, compared to analysts’ expectations of $409.50 million. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.27 earnings per share. On average, sell-side analysts expect that AZZ Inc. will post 5.11 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 dividend on an annualized basis and a yield of 0.73%. AZZ’s payout ratio is currently 53.13%.

AZZ Company Profile

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.