AZZ Inc. (NYSE:AZZ) Shares Acquired by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its position in AZZ Inc. (NYSE:AZZ) by 5.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,847 shares of the industrial products company’s stock after acquiring an additional 1,800 shares during the period. Alliancebernstein L.P.’s holdings in AZZ were worth $2,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AZZ. State Street Corp increased its holdings in shares of AZZ by 2.6% in the third quarter. State Street Corp now owns 1,100,189 shares of the industrial products company’s stock valued at $90,887,000 after purchasing an additional 27,710 shares during the period. Wellington Management Group LLP raised its position in AZZ by 19.2% during the 4th quarter. Wellington Management Group LLP now owns 882,308 shares of the industrial products company’s stock worth $72,279,000 after buying an additional 142,215 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of AZZ by 1.5% in the third quarter. Geode Capital Management LLC now owns 675,603 shares of the industrial products company’s stock worth $55,823,000 after acquiring an additional 10,072 shares during the period. Boston Partners raised its holdings in shares of AZZ by 5.4% during the fourth quarter. Boston Partners now owns 311,938 shares of the industrial products company’s stock worth $25,852,000 after purchasing an additional 15,952 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in AZZ by 35.7% in the fourth quarter. JPMorgan Chase & Co. now owns 258,912 shares of the industrial products company’s stock valued at $21,210,000 after purchasing an additional 68,131 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Noble Financial reiterated an “outperform” rating on shares of AZZ in a research note on Thursday, March 6th. Sidoti raised AZZ from a “neutral” rating to a “buy” rating and set a $101.00 price target for the company in a report on Wednesday, April 9th. Roth Mkm began coverage on shares of AZZ in a research note on Tuesday, February 11th. They set a “buy” rating and a $108.00 price objective on the stock. B. Riley lifted their target price on shares of AZZ from $99.00 to $111.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Roth Capital upgraded shares of AZZ to a “strong-buy” rating in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AZZ currently has a consensus rating of “Moderate Buy” and an average target price of $100.71.

AZZ Stock Performance

NYSE:AZZ opened at $82.07 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.77. The stock has a market capitalization of $2.45 billion, a PE ratio of 55.45, a P/E/G ratio of 1.32 and a beta of 1.22. AZZ Inc. has a fifty-two week low of $69.59 and a fifty-two week high of $99.49. The company has a fifty day moving average of $88.51 and a two-hundred day moving average of $86.34.

AZZ Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 24th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, April 24th. AZZ’s dividend payout ratio is presently 45.95%.

AZZ Company 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.