Oliver Luxxe Assets LLC Acquires New Position in AZZ Inc. (NYSE:AZZ)

Oliver Luxxe Assets LLC purchased a new stake in shares of AZZ Inc. (NYSE:AZZ) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 17,352 shares of the industrial products company’s stock, valued at approximately $1,421,000.

A number of other large investors have also modified their holdings of AZZ. Farther Finance Advisors LLC increased its position in AZZ by 3,790.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 389 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 379 shares during the period. Point72 DIFC Ltd bought a new stake in shares of AZZ in the 2nd quarter worth approximately $52,000. CWM LLC raised its holdings in shares of AZZ by 51.2% in the 3rd quarter. CWM LLC now owns 694 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 235 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in AZZ during the second quarter valued at approximately $67,000. Finally, nVerses Capital LLC bought a new stake in AZZ during the third quarter worth approximately $116,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Trading Up 0.0 %

AZZ stock opened at $87.90 on Friday. The company has a 50 day moving average price of $88.02 and a 200 day moving average price of $82.52. 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 52 week low of $59.72 and a 52 week high of $97.98. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 59.39, a P/E/G ratio of 1.25 and a beta of 1.30.

AZZ (NYSE:AZZ) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.10. The company had revenue of $403.65 million during the quarter, compared to the consensus estimate of $394.30 million. AZZ had a net margin of 7.94% and a return on equity of 16.99%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 EPS. Research analysts forecast that AZZ Inc. will post 5.13 EPS for the current year.

AZZ Dividend Announcement

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

Analysts Set New Price Targets

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