Harvey Partners LLC Purchases 12,000 Shares of AZZ Inc. (NYSE:AZZ)

Harvey Partners LLC raised its stake in AZZ Inc. (NYSE:AZZ) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 666,000 shares of the industrial products company’s stock after acquiring an additional 12,000 shares during the period. AZZ makes up 6.3% of Harvey Partners LLC’s investment portfolio, making the stock its largest position. Harvey Partners LLC’s holdings in AZZ were worth $55,018,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CWM LLC raised its stake in shares of AZZ by 69.4% in the 2nd quarter. CWM LLC now owns 459 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 188 shares during the period. Claro Advisors LLC lifted its stake in shares of AZZ by 7.7% in the 2nd quarter. Claro Advisors LLC now owns 3,298 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 236 shares during the last quarter. FSC Wealth Advisors LLC boosted its holdings in AZZ by 38.6% in the 2nd quarter. FSC Wealth Advisors LLC now owns 951 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 265 shares during the period. Pullen Investment Management LLC lifted its holdings in AZZ by 3.3% in the second quarter. Pullen Investment Management LLC now owns 11,379 shares of the industrial products company’s stock worth $879,000 after buying an additional 368 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of AZZ by 3,790.0% in the third quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 379 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Trading Up 2.7 %

AZZ stock opened at $95.69 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.85. The stock has a market capitalization of $2.86 billion, a P/E ratio of 74.76, a PEG ratio of 1.30 and a beta of 1.25. AZZ Inc. has a 52 week low of $50.04 and a 52 week high of $97.98. The stock has a 50-day simple moving average of $82.62 and a 200 day simple moving average of $80.42.

AZZ (NYSE:AZZ) last announced its earnings results 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. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The firm had revenue of $409.01 million for the quarter, compared to the consensus estimate of $409.50 million. During the same quarter in the previous year, the business earned $1.27 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. Analysts expect that AZZ Inc. will post 5.11 earnings per share for the current year.

AZZ Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Friday, October 18th. AZZ’s payout ratio is currently 53.13%.

AZZ 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.