Arrowstreet Capital Limited Partnership cut its holdings in shares of AZZ Inc. (NYSE:AZZ - Free Report) by 37.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,669 shares of the industrial products company's stock after selling 25,291 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.14% of AZZ worth $3,495,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its holdings in AZZ by 32.4% in the fourth quarter. Farther Finance Advisors LLC now owns 515 shares of the industrial products company's stock valued at $42,000 after buying an additional 126 shares during the last quarter. US Bancorp DE raised its holdings in shares of AZZ by 39.0% in the fourth quarter. US Bancorp DE now owns 463 shares of the industrial products company's stock valued at $38,000 after buying an additional 130 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of AZZ by 4.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,658 shares of the industrial products company's stock valued at $300,000 after purchasing an additional 143 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in AZZ by 0.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 24,151 shares of the industrial products company's stock valued at $1,978,000 after buying an additional 154 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of AZZ by 202.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 475 shares of the industrial products company's stock worth $39,000 after acquiring an additional 318 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
AZZ has been the subject of several research analyst reports. Noble Financial reiterated an "outperform" rating on shares of AZZ in a research report on Thursday, March 6th. B. Riley increased their target price on AZZ from $99.00 to $111.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Roth Capital upgraded shares of AZZ to a "strong-buy" rating in a report on Tuesday, February 11th. Sidoti upgraded AZZ from a "neutral" rating to a "buy" rating and set a $101.00 target price on the stock in a research report on Wednesday, April 9th. Finally, Roth Mkm assumed coverage on shares of AZZ in a research note on Tuesday, February 11th. They set a "buy" rating and a $108.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $100.71.
Read Our Latest Stock Analysis on AZZ
AZZ Stock Up 1.1 %
Shares of AZZ traded up $0.93 during mid-day trading on Monday, reaching $82.73. 3,827 shares of the stock traded hands, compared to its average volume of 249,916. AZZ Inc. has a 12-month low of $69.59 and a 12-month high of $99.49. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 55.36, a P/E/G ratio of 1.32 and a beta of 1.22. 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 stock has a fifty day simple moving average of $88.97 and a 200 day simple moving average of $86.36.
AZZ Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 24th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, April 24th. AZZ's dividend payout ratio (DPR) is 45.95%.
AZZ Company Profile
(
Free Report)
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.
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