On September 12, 2023, Aristotle Capital Boston LLC announced that it has increased its stake in AZZ Inc. (NYSE:AZZ) by 3.4% during the first quarter of the year. The information was disclosed in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). According to the filing, the institutional investor now owns approximately 426,556 shares of AZZ’s stock, after acquiring an additional 14,037 shares in the last quarter. This brings Aristotle Capital Boston LLC’s ownership of AZZ to about 1.71% of the company’s total worth, amounting to $17,591,000.
AZZ Inc., a leading industrial products company, recently reported its earnings results for the quarter ended on July 10th. The firm disclosed earnings per share (EPS) of $1.14 during this period, which fell short of market expectations by ($0.02). Despite this slight miss in earnings estimates, AZZ displayed a positive return on equity of 11.93% and recorded impressive revenue of $390.87 million for the quarter. Comparatively, analysts had projected revenue to be around $396.65 million for this period.
It is noteworthy that AZZ witnessed a rise in revenue by 88.7% on a year-over-year basis during this particular quarter. In the same quarter of the previous year, AZZ had reported an EPS of $1.40; therefore, there was a decline in earnings for this period compared to prior year’s performance.
Equities research analysts have predicted that AZZ Inc.’s full-year EPS will be approximately 3.9 for the current fiscal year.
As businesses continue to navigate through challenging economic conditions and changing market dynamics, companies like AZZ face both opportunities and obstacles in maintaining growth and profitability levels. Shareholders and investors will likely keep a close eye on AZZ’s performance, particularly in relation to future earnings reports and how the company adapts to market conditions.
This recent increase in Aristotle Capital Boston LLC’s stake in AZZ demonstrates the investor’s confidence and belief in the company’s long-term growth potential. As institutional investors like Aristotle Capital Boston LLC continue to make strategic investment decisions based on their analysis of a company’s financial performance, it plays a significant role in shaping the stock market landscape. Investors will be keenly observing future developments related to AZZ, as they seek valuable insights into its overall financial health and prospects for sustainable growth.
In conclusion, with the recent boost in Aristotle Capital Boston LLC’s stake in AZZ Inc., combined with AZZ’s favorable revenue growth this quarter, industry experts will continue to closely monitor the company’s progress and assess its ability to deliver robust financial results amidst a challenging business environment.
Axsome Therapeutics, Inc.
Updated on: 27/11/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Sell
7:00 AM (UTC)
Date:27 November, 2023
|Analyst / firm||Rating|
Institutional Investors and Hedge Funds Show Confidence in AZZ Inc. as They Increase Stakes
Institutional investors and hedge funds continue to show interest in AZZ Inc., as a number of them have recently bought and sold shares of the stock. One notable investor, Vanguard Group Inc., increased its stake in AZZ by 2.4% during the third quarter. With this increase, Vanguard now owns over 2.7 million shares of the company’s stock, valued at approximately $99.3 million.
Another investor, T. Rowe Price Investment Management Inc., also raised its stake in AZZ by 0.6% during the fourth quarter. T. Rowe Price now holds around 2.5 million shares of the industrial products company’s stock, valued at about $99.8 million.
Dimensional Fund Advisors LP took an even more significant step, raising its stake in AZZ by 7.3% during the first quarter. The firm now owns over 1.2 million shares of the company’s stock with a value of approximately $59.9 million.
State Street Corp and Harvey Partners LLC also increased their stakes in AZZ by 2.2% and 11.7% respectively during various quarters this year.
With these significant investments from institutional investors and other hedge funds, it is clear that there is confidence in AZZ as a potentially profitable investment opportunity.
AZZ opened at $46.44 on September 12th, demonstrating stability within a reasonable trading range for potential investors to consider.
The company has posted a market capitalization figure of $1.16 billion with a price-to-earnings ratio of -23.22, suggesting that investors see long-term value potential despite temporary losses or negative earnings reports from the company – possibly showcasing their faith in future growth prospects.
Furthermore, AZZ recently announced a quarterly dividend payment to shareholders who were record holders as of July 12th, indicating their commitment to providing returns to their shareholders even during challenging times for the company. This dividend represents a $0.68 annualized dividend and currently yields an impressive 1.46%.
Financial analysts have also weighed in on AZZ, with B. Riley, StockNews.com, Noble Financial, and TheStreet all providing coverage and ratings for the stock. These analysts have varied opinions on AZZ’s outlook and potential future performance, ranging from “hold” to “outperform” ratings.
Overall, AZZ has attracted a moderate buy rating from Bloomberg.com, indicating that there is cautious optimism surrounding the stock with an average target price projection of $55.25.
In conclusion, AZZ Inc. has seen significant interest from institutional investors and hedge funds as they continue to buy and sell shares of the stock. With its solid market capitalization figure and a notable dividend yield, AZZ could be an intriguing investment opportunity for those seeking long-term growth potentials in the industrial products sector.