17,352 Shares in AZZ Inc. (NYSE:AZZ) Bought by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC acquired a new stake in AZZ Inc. (NYSE:AZZ) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 17,352 shares of the industrial products company’s stock, valued at approximately $1,421,000. Oliver Luxxe Assets LLC owned about 0.06% of AZZ at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in shares of AZZ during the 3rd quarter worth $61,139,000. FMR LLC grew its position in AZZ by 13.6% during the third quarter. FMR LLC now owns 3,223,391 shares of the industrial products company’s stock worth $266,284,000 after buying an additional 385,240 shares during the period. Nordea Investment Management AB purchased a new position in AZZ in the fourth quarter valued at about $7,798,000. Millennium Management LLC boosted its stake in shares of AZZ by 1,822.5% during the 2nd quarter. Millennium Management LLC now owns 72,650 shares of the industrial products company’s stock worth $5,612,000 after acquiring an additional 68,871 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of AZZ during the 2nd quarter worth approximately $4,969,000. 90.93% of the stock is owned by institutional investors and hedge funds.

AZZ Price Performance

AZZ stock opened at $87.90 on Friday. The stock has a 50-day simple moving average of $88.02 and a 200-day simple moving average of $82.52. The firm has a market cap of $2.63 billion, a P/E ratio of 59.39, a price-to-earnings-growth ratio of 1.25 and a beta of 1.30. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.77. AZZ Inc. has a 1 year low of $59.72 and a 1 year high of $97.98.

AZZ (NYSE:AZZ) last posted its earnings results on Tuesday, January 7th. The industrial products company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.10. AZZ had a net margin of 7.94% and a return on equity of 16.99%. The business had revenue of $403.65 million for the quarter, compared to analysts’ expectations of $394.30 million. During the same period in the previous year, the company posted $1.19 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts predict that AZZ Inc. will post 5.13 earnings per share for the current fiscal year.

AZZ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, January 30th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Thursday, January 30th. AZZ’s dividend payout ratio (DPR) is currently 45.95%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lifted their price objective on AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.80.

About AZZ

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.