Lazard Asset Management LLC purchased a new position in shares of AZZ Inc. (NYSE:AZZ – Get Rating) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,308 shares of the industrial products company’s stock, valued at approximately $216,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Westwood Holdings Group Inc. raised its stake in shares of AZZ by 6.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 812,646 shares of the industrial products company’s stock worth $39,202,000 after buying an additional 46,772 shares during the last quarter. Versor Investments LP acquired a new position in AZZ in the 2nd quarter valued at about $527,000. GW Henssler & Associates Ltd. acquired a new position in AZZ in the 2nd quarter valued at about $206,000. Orchard Capital Managment LLC raised its stake in AZZ by 6.8% in the 1st quarter. Orchard Capital Managment LLC now owns 156,419 shares of the industrial products company’s stock valued at $7,546,000 after purchasing an additional 9,900 shares during the last quarter. Finally, Martingale Asset Management L P raised its stake in AZZ by 5.7% in the 1st quarter. Martingale Asset Management L P now owns 46,496 shares of the industrial products company’s stock valued at $2,244,000 after purchasing an additional 2,506 shares during the last quarter. Institutional investors and hedge funds own 78.92% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Stifel Nicolaus cut their target price on shares of AZZ from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, September 20th. TheStreet downgraded shares of AZZ from a “b-” rating to a “c+” rating in a research note on Friday, October 14th. StockNews.com raised shares of AZZ from a “sell” rating to a “hold” rating in a research note on Thursday, October 20th. Finally, Sidoti raised shares of AZZ from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Wednesday, October 12th.
Insider Transactions at AZZ
AZZ Trading Up 2.0 %
NYSE AZZ opened at $40.60 on Monday. AZZ Inc. has a 12 month low of $30.21 and a 12 month high of $57.32. The company has a 50-day moving average of $38.51 and a 200-day moving average of $41.43. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.88 and a quick ratio of 1.47. The company has a market cap of $1.01 billion, a P/E ratio of 52.73 and a beta of 1.26.
AZZ Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, October 17th. AZZ’s payout ratio is currently 88.31%.
AZZ Inc offers galvanizing and metal coating solutions, welding solutions, specialty electrical equipment, and engineered services to the power generation, transmission, distribution, refining, and industrial markets in the United States and internationally. The company operates through two segments, Infrastructure Solutions and Metal Coatings.
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