Van Berkom Associates Lowers stake in AZZ Inc (AZZ)

AZZ Inc (AZZ) : Van Berkom Associates reduced its stake in AZZ Inc by 3.15% during the most recent quarter end. The investment management company now holds a total of 854,362 shares of AZZ Inc which is valued at $53,115,686 after selling 27,832 shares in AZZ Inc , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.AZZ Inc makes up approximately 2.32% of Van Berkom Associates’s portfolio.

Other Hedge Funds, Including , Meritage Portfolio Management reduced its stake in AZZ by selling 1,095 shares or 1.35% in the most recent quarter. The Hedge Fund company now holds 80,175 shares of AZZ which is valued at $4,984,480. AZZ Inc makes up approx 0.54% of Meritage Portfolio Management’s portfolio.Eagle Boston Investment Management Inc boosted its stake in AZZ in the latest quarter, The investment management firm added 2,166 additional shares and now holds a total of 83,970 shares of AZZ Inc which is valued at $5,260,721. AZZ Inc makes up approx 0.69% of Eagle Boston Investment Management Inc’s portfolio. Kistler-tiffany Companies added AZZ to its portfolio by purchasing 6 company shares during the most recent quarter which is valued at $361.Bnp Paribas Arbitrage Sa boosted its stake in AZZ in the latest quarter, The investment management firm added 4,409 additional shares and now holds a total of 8,826 shares of AZZ Inc which is valued at $530,619.

AZZ Inc opened for trading at $62.5 and hit $62.97 on the upside on Wednesday, eventually ending the session at $62.65, with a gain of 0.42% or 0.26 points. The heightened volatility saw the trading volume jump to 81,288 shares. Company has a market cap of $1,625 M.

On the company’s financial health, AZZ Inc reported $0.81 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 5, 2016. Analyst had a consensus of $0.85. The company had revenue of $242.70 million for the quarter, compared to analysts expectations of $247.51 million. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS.

AZZ Inc. formerly AZZ incorporated 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 in two business segments: the Energy segment and the Galvanizing Services segment. The Company’s Energy segment provides products and services designed to support industrial nuclear and electrical applications. Its product offerings include custom switchgear electrical enclosures medium and high voltage bus ducts explosion proof and hazardous duty lighting nuclear safety-related equipment and tubular products. The Company’s Galvanizing Services segment provides hot dip galvanizing to the steel fabrication industry through facilities located throughout the United States and Canada. The Company operates in the United States Canada China Brazil Poland and the Netherlands.

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