AZZ Inc. (NYSE:AZZ) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in AZZ Inc. (NYSE:AZZ) by 23.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,715 shares of the industrial products company’s stock after buying an additional 4,315 shares during the quarter. Assenagon Asset Management S.A. owned 0.08% of AZZ worth $1,861,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Oliver Luxxe Assets LLC acquired a new stake in AZZ in the 4th quarter valued at $1,421,000. Nordea Investment Management AB acquired a new stake in shares of AZZ in the fourth quarter valued at about $7,798,000. Principal Financial Group Inc. increased its stake in shares of AZZ by 6.8% during the third quarter. Principal Financial Group Inc. now owns 157,418 shares of the industrial products company’s stock worth $13,004,000 after purchasing an additional 10,038 shares in the last quarter. Tidal Investments LLC raised its position in shares of AZZ by 22.4% during the 3rd quarter. Tidal Investments LLC now owns 20,073 shares of the industrial products company’s stock worth $1,658,000 after purchasing an additional 3,673 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in AZZ by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 675,603 shares of the industrial products company’s stock valued at $55,823,000 after buying an additional 10,072 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

AZZ Stock Performance

NYSE:AZZ opened at $87.90 on Friday. The company has a market cap of $2.63 billion, a P/E ratio of 59.39, a P/E/G ratio of 1.25 and a beta of 1.30. AZZ Inc. has a twelve month low of $59.72 and a twelve month high of $97.98. The company’s 50-day moving average price is $88.02 and its 200-day moving average price is $82.52. 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 (NYSE:AZZ) last released its earnings results 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 business had revenue of $403.65 million for the quarter, compared to analyst estimates of $394.30 million. AZZ had a net margin of 7.94% and a return on equity of 16.99%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $1.19 EPS. On average, sell-side analysts forecast that AZZ Inc. will post 5.13 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The business also recently disclosed 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. This represents a $0.68 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Thursday, January 30th. AZZ’s dividend payout ratio (DPR) is currently 45.95%.

Analyst Ratings Changes

Separately, Jefferies Financial Group boosted their price objective on AZZ from $105.00 to $110.00 and gave the stock 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 issued a buy rating to the company’s stock. According to MarketBeat, AZZ has a consensus rating of “Moderate Buy” and an average price target of $96.80.

AZZ 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.