Van Berkom & Associates Inc. boosted its stake in AZZ Inc (NYSE:AZZ) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,022,817 shares of the industrial products company’s stock after acquiring an additional 51,485 shares during the period. Van Berkom & Associates Inc. owned 3.94% of AZZ worth $49,811,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in AZZ. Capital Analysts LLC bought a new position in shares of AZZ during the 2nd quarter worth approximately $108,000. Pinebridge Investments L.P. boosted its holdings in shares of AZZ by 1.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,431 shares of the industrial products company’s stock worth $191,000 after buying an additional 45 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of AZZ by 4.9% during the 2nd quarter. Amalgamated Bank now owns 3,595 shares of the industrial products company’s stock worth $201,000 after buying an additional 167 shares in the last quarter. M&T Bank Corp bought a new position in shares of AZZ during the 2nd quarter worth approximately $238,000. Finally, Stoneridge Investment Partners LLC bought a new position in shares of AZZ during the 3rd quarter worth approximately $221,000. Institutional investors and hedge funds own 87.86% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research lowered AZZ from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 28th. Stifel Nicolaus lowered their target price on AZZ from $56.00 to $52.00 and set a “hold” rating on the stock in a research report on Wednesday, September 27th. Finally, BidaskClub lowered AZZ from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th.
AZZ (NYSE:AZZ) last issued its earnings results on Tuesday, October 3rd. The industrial products company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.09). The firm had revenue of $190.40 million for the quarter, compared to analyst estimates of $193.70 million. AZZ had a return on equity of 9.65% and a net margin of 6.27%. AZZ’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 earnings per share. research analysts predict that AZZ Inc will post 1.99 EPS for the current fiscal year.
AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.
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