Norges Bank bought a new position in AZZ Inc. (NYSE:AZZ - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 85,476 shares of the industrial products company's stock, valued at approximately $7,002,000. Norges Bank owned 0.29% of AZZ as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB purchased a new stake in shares of AZZ in the fourth quarter valued at about $7,798,000. Oliver Luxxe Assets LLC purchased a new stake in AZZ in the 4th quarter valued at about $1,421,000. Assenagon Asset Management S.A. boosted its holdings in AZZ by 23.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 22,715 shares of the industrial products company's stock valued at $1,861,000 after acquiring an additional 4,315 shares during the last quarter. Hennessy Advisors Inc. lifted its stake in shares of AZZ by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 131,500 shares of the industrial products company's stock valued at $10,772,000 after purchasing an additional 8,400 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of AZZ by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 675,603 shares of the industrial products company's stock worth $55,823,000 after purchasing an additional 10,072 shares during the period. Hedge funds and other institutional investors own 90.93% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Noble Financial restated an "outperform" rating on shares of AZZ in a report on Thursday, March 6th. Sidoti upgraded shares of AZZ from a "neutral" rating to a "buy" rating and set a $101.00 target price on the stock in a research note on Wednesday, April 9th. Roth Mkm assumed coverage on AZZ in a report on Tuesday, February 11th. They issued a "buy" rating and a $108.00 price target for the company. Roth Capital upgraded AZZ to a "strong-buy" rating in a research note on Tuesday, February 11th. Finally, B. Riley increased their target price on shares of AZZ from $99.00 to $111.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AZZ currently has an average rating of "Moderate Buy" and a consensus target price of $100.71.
Check Out Our Latest Stock Report on AZZ
AZZ Stock Up 1.2 %
Shares of NYSE:AZZ traded up $1.02 during trading on Monday, hitting $82.82. 3,827 shares of the company's stock traded hands, compared to its average volume of 249,916. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 55.36, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. The company has a 50-day moving average price of $88.97 and a 200-day moving average price of $86.36. The company has a current ratio of 1.77, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. AZZ Inc. has a 52 week low of $69.59 and a 52 week high of $99.49.
AZZ Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 24th will be issued a $0.17 dividend. The ex-dividend date is Thursday, April 24th. This represents a $0.68 dividend on an annualized basis and a yield of 0.82%. AZZ's dividend payout ratio (DPR) is presently 45.95%.
AZZ Company Profile
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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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