First Trust Advisors LP lowered its stake in AZZ Inc. (NYSE:AZZ) by 28.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,649 shares of the industrial products company’s stock after selling 32,546 shares during the period. First Trust Advisors LP owned about 0.32% of AZZ worth $4,612,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Arizona State Retirement System boosted its position in shares of AZZ by 0.7% in the second quarter. Arizona State Retirement System now owns 13,616 shares of the industrial products company’s stock valued at $760,000 after buying an additional 100 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of AZZ by 6.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 155,075 shares of the industrial products company’s stock valued at $8,654,000 after buying an additional 10,077 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of AZZ by 8.9% in the second quarter. TD Asset Management Inc. now owns 26,800 shares of the industrial products company’s stock valued at $1,495,000 after buying an additional 2,200 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of AZZ by 1.2% in the second quarter. Texas Permanent School Fund now owns 19,013 shares of the industrial products company’s stock valued at $1,061,000 after buying an additional 222 shares in the last quarter. Finally, Moody Aldrich Partners LLC boosted its position in shares of AZZ by 31.7% in the second quarter. Moody Aldrich Partners LLC now owns 12,750 shares of the industrial products company’s stock valued at $711,000 after buying an additional 3,070 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

AZZ Inc. (NYSE AZZ) opened at 48.55 on Friday. AZZ Inc. has a one year low of $46.20 and a one year high of $67.70. The firm has a market capitalization of $1.26 billion, a PE ratio of 23.90 and a beta of 1.58. The stock’s 50 day moving average price is $49.54 and its 200 day moving average price is $55.03.

AZZ (NYSE:AZZ) last issued its quarterly earnings data on Thursday, July 6th. The industrial products company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.19. AZZ had a return on equity of 10.98% and a net margin of 6.44%. The business had revenue of $208.60 million for the quarter, compared to analysts’ expectations of $225.08 million. During the same period last year, the business earned $0.81 earnings per share. The company’s revenue for the quarter was down 14.1% on a year-over-year basis. Analysts expect that AZZ Inc. will post $2.62 EPS for the current year.

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Several brokerages have recently weighed in on AZZ. BidaskClub cut AZZ from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. TheStreet cut AZZ from a “b” rating to a “c+” rating in a report on Friday, July 7th. Zacks Investment Research cut AZZ from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Finally, Stifel Nicolaus lowered their target price on AZZ from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Friday, July 7th.

In other AZZ news, insider Thomas E. Ferguson acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, July 11th. The stock was acquired at an average cost of $49.59 per share, with a total value of $247,950.00. Following the purchase, the insider now directly owns 49,037 shares in the company, valued at approximately $2,431,744.83. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Paul Wesley Fehlman acquired 1,500 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were acquired at an average cost of $49.31 per share, with a total value of $73,965.00. Following the completion of the purchase, the chief financial officer now owns 9,287 shares in the company, valued at $457,941.97. The disclosure for this purchase can be found here. Company insiders own 0.01% of the company’s stock.

AZZ Company Profile

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.

Institutional Ownership by Quarter for AZZ (NYSE:AZZ)

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