Bank of Montreal Can lifted its position in AZZ Inc (NYSE:AZZ) by 19.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,618 shares of the industrial products company’s stock after purchasing an additional 258 shares during the quarter. Bank of Montreal Can’s holdings in AZZ were worth $66,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of AZZ. BlackRock Inc. lifted its stake in shares of AZZ by 2.2% in the 4th quarter. BlackRock Inc. now owns 3,765,728 shares of the industrial products company’s stock valued at $151,984,000 after acquiring an additional 79,431 shares during the last quarter. Norges Bank bought a new position in AZZ during the 4th quarter valued at approximately $15,018,000. Segall Bryant & Hamill LLC raised its position in AZZ by 35.2% during the 4th quarter. Segall Bryant & Hamill LLC now owns 296,043 shares of the industrial products company’s stock valued at $11,948,000 after purchasing an additional 77,148 shares during the last quarter. Geode Capital Management LLC raised its position in AZZ by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 269,181 shares of the industrial products company’s stock valued at $10,863,000 after purchasing an additional 14,955 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in AZZ by 1,117.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 222,313 shares of the industrial products company’s stock valued at $8,973,000 after purchasing an additional 204,051 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.
Separately, Zacks Investment Research raised AZZ from a “sell” rating to a “hold” rating in a research report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $50.33.
AZZ (NYSE:AZZ) last announced its earnings results on Monday, May 20th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.12). AZZ had a return on equity of 8.67% and a net margin of 5.52%. The firm had revenue of $202.50 million during the quarter, compared to the consensus estimate of $223.29 million. AZZ’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts predict that AZZ Inc will post 2.59 earnings per share for the current fiscal year.
AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.
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