Lazard Asset Management LLC Invests $216,000 in AZZ Inc. (NYSE:AZZ)

Lazard Asset Management LLC purchased a new position in shares of AZZ Inc. (NYSE:AZZGet 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

In other news, COO Kurt L. Russell bought 3,000 shares of the firm’s stock in a transaction dated Friday, October 14th. The stock was acquired at an average price of $34.89 per share, for a total transaction of $104,670.00. Following the acquisition, the chief operating officer now owns 3,000 shares of the company’s stock, valued at $104,670. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Kurt L. Russell bought 3,000 shares of the firm’s stock in a transaction dated Friday, October 14th. The stock was acquired at an average price of $34.89 per share, for a total transaction of $104,670.00. Following the acquisition, the chief operating officer now owns 3,000 shares of the company’s stock, valued at $104,670. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ken Lavelle bought 2,000 shares of the firm’s stock in a transaction dated Monday, October 17th. The shares were purchased at an average price of $34.68 per share, with a total value of $69,360.00. Following the acquisition, the insider now directly owns 24,361 shares in the company, valued at approximately $844,839.48. The disclosure for this purchase can be found here. Company insiders own 1.72% of the company’s stock.

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 Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for AZZ (NYSE:AZZ)

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