17,352 Shares in AZZ Inc. (NYSE:AZZ) Acquired by Oliver Luxxe Assets LLC

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

Several other institutional investors and hedge funds have also bought and sold shares of AZZ. Nordea Investment Management AB purchased a new position in AZZ in the 4th quarter worth $7,798,000. Principal Financial Group Inc. raised its stake in shares of AZZ by 6.8% in 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 during the last quarter. Tidal Investments LLC lifted its holdings in shares of AZZ by 22.4% during the third 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 period. Geode Capital Management LLC boosted its position in AZZ by 1.5% in the third 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 during the last quarter. Finally, Barclays PLC boosted its position in AZZ by 389.1% in the third quarter. Barclays PLC now owns 51,458 shares of the industrial products company’s stock valued at $4,250,000 after buying an additional 40,938 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

AZZ Price Performance

Shares of AZZ stock opened at $85.14 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.85 and a quick ratio of 1.32. The company has a market capitalization of $2.54 billion, a PE ratio of 66.52, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. The firm’s 50-day moving average is $86.87 and its two-hundred day moving average is $81.79. AZZ Inc. has a 12 month low of $55.78 and a 12 month high of $97.98.

AZZ (NYSE:AZZ) last released its quarterly earnings results on Wednesday, October 9th. The industrial products company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. AZZ had a return on equity of 16.88% and a net margin of 7.63%. The business had revenue of $409.01 million during the quarter, compared to analysts’ expectations of $409.50 million. During the same period in the prior year, the business posted $1.27 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. Analysts predict that AZZ Inc. will post 5.08 earnings per share for the current year.

Wall Street Analyst Weigh In

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