Oliver Luxxe Assets LLC Invests $1.42 Million in AZZ Inc. (NYSE:AZZ)

Oliver Luxxe Assets LLC bought a new position in AZZ Inc. (NYSE:AZZ - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 17,352 shares of the industrial products company's stock, valued at approximately $1,421,000. Oliver Luxxe Assets LLC owned 0.06% of AZZ as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP purchased a new stake in shares of AZZ in the 3rd quarter worth $61,139,000. FMR LLC lifted its stake in AZZ by 13.6% in the third quarter. FMR LLC now owns 3,223,391 shares of the industrial products company's stock worth $266,284,000 after acquiring an additional 385,240 shares during the period. Nordea Investment Management AB bought a new position in AZZ during the 4th quarter worth about $7,798,000. Millennium Management LLC increased its position in AZZ by 1,822.5% during the 2nd quarter. Millennium Management LLC now owns 72,650 shares of the industrial products company's stock valued at $5,612,000 after purchasing an additional 68,871 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of AZZ in the 2nd quarter valued at about $4,969,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group increased their price objective on shares of AZZ from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, AZZ presently has an average rating of "Moderate Buy" and a consensus target price of $96.80.

AZZ Stock Down 2.6 %

Shares of NYSE AZZ traded down $2.28 during trading hours on Friday, hitting $85.87. 80,522 shares of the stock were exchanged, compared to its average volume of 170,557. AZZ Inc. has a 12 month low of $60.82 and a 12 month high of $97.98. The firm has a fifty day moving average price of $88.02 and a 200-day moving average price of $82.52. The company has a quick ratio of 1.26, a current ratio of 1.77 and a debt-to-equity ratio of 0.85. The company has a market cap of $2.57 billion, a PE ratio of 58.02, a PEG ratio of 1.22 and a beta of 1.30.

AZZ (NYSE:AZZ - Get Free Report) last posted its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.10. The firm had revenue of $403.65 million during the quarter, compared to analysts' expectations of $394.30 million. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 EPS. On average, sell-side analysts expect that AZZ Inc. will post 5.13 EPS for the current year.

AZZ Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, January 30th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $0.68 dividend on an annualized basis and a yield of 0.79%. AZZ's payout ratio is 45.95%.

AZZ Company Profile

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.