Xact Kapitalforvaltning AB cut its position in shares of AZZ Inc (NYSE:AZZ) by 32.6% during the 1st quarter, Holdings Channel reports. The firm owned 6,837 shares of the industrial products company’s stock after selling 3,300 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in AZZ were worth $280,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in AZZ in the fourth quarter worth about $15,018,000. Thrivent Financial for Lutherans raised its position in AZZ by 1,117.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 222,313 shares of the industrial products company’s stock worth $8,973,000 after acquiring an additional 204,051 shares during the period. BlackRock Inc. raised its position in AZZ by 2.2% in the fourth quarter. BlackRock Inc. now owns 3,765,728 shares of the industrial products company’s stock worth $151,984,000 after acquiring an additional 79,431 shares during the period. Segall Bryant & Hamill LLC raised its position in AZZ by 35.2% in the fourth quarter. Segall Bryant & Hamill LLC now owns 296,043 shares of the industrial products company’s stock worth $11,948,000 after acquiring an additional 77,148 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in AZZ in the first quarter worth about $2,141,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Separately, Zacks Investment Research raised shares of AZZ from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Monday, June 3rd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. AZZ presently has an average rating of “Buy” and a consensus price target of $50.33.

Shares of AZZ stock opened at $43.57 on Friday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 22.23 and a beta of 1.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.30. AZZ Inc has a 52 week low of $37.43 and a 52 week high of $56.05.

AZZ (NYSE:AZZ) last announced its quarterly earnings data on Monday, May 20th. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.12). The company had revenue of $202.50 million during the quarter, compared to the consensus estimate of $223.29 million. AZZ had a return on equity of 8.67% and a net margin of 5.52%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts predict that AZZ Inc will post 2.59 earnings per share for the current year.

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AZZ Company Profile

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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Institutional Ownership by Quarter for AZZ (NYSE:AZZ)

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