Intrinsic Edge Capital Management LLC Acquires Shares of 91,557 AZZ Inc. (NYSE:AZZ)

Intrinsic Edge Capital Management LLC acquired a new stake in AZZ Inc. (NYSE:AZZ - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 91,557 shares of the industrial products company's stock, valued at approximately $7,500,000. Intrinsic Edge Capital Management LLC owned approximately 0.31% of AZZ as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in shares of AZZ by 4.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,729,287 shares of the industrial products company's stock valued at $223,584,000 after purchasing an additional 124,392 shares during the period. Dimensional Fund Advisors LP increased its stake in AZZ by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,110,831 shares of the industrial products company's stock worth $90,999,000 after buying an additional 29,306 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of AZZ by 19.2% during the fourth quarter. Wellington Management Group LLP now owns 882,308 shares of the industrial products company's stock valued at $72,279,000 after acquiring an additional 142,215 shares during the last quarter. Boston Partners lifted its position in shares of AZZ by 5.4% in the fourth quarter. Boston Partners now owns 311,938 shares of the industrial products company's stock valued at $25,852,000 after acquiring an additional 15,952 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of AZZ by 21.3% in the fourth quarter. Invesco Ltd. now owns 298,084 shares of the industrial products company's stock worth $24,419,000 after acquiring an additional 52,281 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

AZZ Trading Up 0.5 %

AZZ traded up $0.43 during trading hours on Thursday, reaching $87.19. The company's stock had a trading volume of 73,353 shares, compared to its average volume of 229,384. The stock has a market cap of $2.61 billion, a PE ratio of 58.84, a P/E/G ratio of 1.32 and a beta of 1.22. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.77 and a quick ratio of 1.26. AZZ Inc. has a fifty-two week low of $69.59 and a fifty-two week high of $99.49. The business's 50-day moving average is $85.39 and its 200-day moving average is $86.49.

AZZ (NYSE:AZZ - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The industrial products company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.03. The firm had revenue of $351.88 million during the quarter, compared to analysts' expectations of $367.78 million. AZZ had a net margin of 7.94% and a return on equity of 16.99%. As a group, equities research analysts predict that AZZ Inc. will post 5.13 earnings per share for the current fiscal year.

AZZ Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 24th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $0.68 annualized dividend and a yield of 0.78%. AZZ's dividend payout ratio (DPR) is 42.77%.

Analyst Upgrades and Downgrades

AZZ has been the subject of several recent research reports. Roth Capital raised AZZ to a "strong-buy" rating in a research note on Tuesday, February 11th. Roth Mkm initiated coverage on shares of AZZ in a research note on Tuesday, February 11th. They issued a "buy" rating and a $108.00 price target on the stock. B. Riley boosted their price target on shares of AZZ from $99.00 to $111.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Noble Financial reiterated an "outperform" rating on shares of AZZ in a report on Thursday, March 6th. Finally, Sidoti upgraded AZZ from a "neutral" rating to a "buy" rating and set a $101.00 target price on the stock in a report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.71.

About AZZ

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.