NYS Teachers Retirement System Reduces Stake in AZZ by 12.1%
April 26, 2023
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AZZ ($NYSE:AZZ) Inc. is a publicly traded electrical and industrial products manufacturing company headquartered in Fort Worth, Texas. The company’s products include electric power generation and distribution, gas and oil production, electric utilities, and specialty welding services. The move by the fund indicates a shift in investor sentiment regarding AZZ Inc.’s stock. It remains to be seen whether other institutional investors will follow suit or if the stock will rebound in the coming months.
Additionally, it is possible that the fund may choose to reinvest in AZZ Inc. in order to take advantage of any potential gains.
Market Price
On Friday, NYS Teachers Retirement System reduced its stake in AZZ Inc. by 12.1%. This resulted in a drop of the company’s stock from its prior closing price of $39.9 to $39.7 upon opening of the market. This equated to a decline of 0.4% from its prior closing price.
The NYS Teachers Retirement System had previously held a sizable stake in AZZ Inc., however the recent significant reduction has raised questions about the company’s current financial position. Despite this decline, AZZ Inc. appears to remain a viable company and is still capable of providing quality products and services. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Azz Inc. More…
| Total Revenues | Net Income | Net Margin |
| 1.49k | -37.05 | 6.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Azz Inc. More…
| Operations | Investing | Financing |
| 112.94 | -1.28k | 1.16k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Azz Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.2k | 1.35k | 34.27 |
Key Ratios Snapshot
Some of the financial key ratios for Azz Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.6% | 23.1% | 12.6% |
| FCF Margin | ROE | ROA |
| 4.4% | 13.8% | 5.4% |
Analysis
At GoodWhale, we conducted an analysis of AZZ INC‘s wellbeing. Our results using the Star Chart system classified AZZ INC as a ‘cheetah’, indicating that the company has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This type of company is likely to be of interest to investors who value growth and dividends over stability and profitability. AZZ INC is strong in dividend and growth, but medium in profitability and weak in assets. Overall, the company has a high health score of 8/10 with regard to its cashflows and debt, which suggests it is capable to pay off debt and fund future operations. More…
Peers
Their main competitors in the field are Manaksia Coated Metals & Industries Ltd, KFM Kingdom Holdings Ltd, and Vinacomin – Minerals Holding Corp. All four companies provide unique services that offer solutions to their customers’ needs. By delivering quality products and services, they strive to meet the ever-changing demands of the global market.
– Manaksia Coated Metals & Industries Ltd ($BSE:539046)
Manaksia Coated Metals & Industries Ltd is an Indian industrial goods manufacturer and distributor. Founded in 1975, the company produces a range of products including packaging materials, insulation boards, and other industrial goods. With a market cap of 1.24B as of 2022, Manaksia Coated Metals & Industries Ltd is one of the leading industrial goods companies in India. The company has also achieved a Return on Equity (ROE) of 15.03%, which is a testament to the company’s financial strength and performance. The company’s strong performance has enabled it to consistently create value for its shareholders.
– KFM Kingdom Holdings Ltd ($SEHK:03816)
KFM Kingdom Holdings Ltd is a Hong Kong-based investment holding company established in 2006. The company specializes in property and infrastructure development, construction, property management, hotel operations and property investments. As of 2022, KFM Kingdom Holdings Ltd has a market cap of 114.6M, which indicates that the company is well-positioned to generate returns for its shareholders. Furthermore, the company boasts a Return on Equity of 6.87%, indicating a strong financial performance and healthy profitability.
Summary
AZZ Inc. is a company that has recently attracted investment analysis attention. The New York State Teachers Retirement System has recently reduced its stake in AZZ Inc. by 12.1% in the fourth quarter. This is likely due to cautious investor sentiment, with the potential for changes in prices and performance of the stock.
Analysts have been monitoring AZZ Inc. closely to determine if this was an opportune time to invest in the company. Investors must consider their risk tolerance, financial situation, and outlook for the company when making decisions about investing in AZZ Inc.
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