Asset Management One Co. Ltd. Buys 3,931 Shares of AZZ Inc. (NYSE:AZZ)

Asset Management One Co. Ltd. increased its stake in shares of AZZ Inc. (NYSE:AZZ - Free Report) by 8.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,131 shares of the industrial products company's stock after buying an additional 3,931 shares during the period. Asset Management One Co. Ltd. owned about 0.18% of AZZ worth $4,442,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC grew its position in shares of AZZ by 16.6% during the 1st quarter. Flagship Harbor Advisors LLC now owns 3,316 shares of the industrial products company's stock valued at $277,000 after acquiring an additional 471 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in AZZ by 151.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 20,193 shares of the industrial products company's stock valued at $1,654,000 after purchasing an additional 12,178 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in AZZ by 202.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 475 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 318 shares during the last quarter. GAMMA Investing LLC grew its holdings in AZZ by 16,255.5% during the first quarter. GAMMA Investing LLC now owns 22,407 shares of the industrial products company's stock valued at $1,873,000 after purchasing an additional 22,270 shares during the period. Finally, Farther Finance Advisors LLC increased its position in AZZ by 32.4% in the fourth quarter. Farther Finance Advisors LLC now owns 515 shares of the industrial products company's stock worth $42,000 after buying an additional 126 shares during the last quarter. Institutional investors own 90.93% of the company's stock.

AZZ Stock Up 2.8%

Shares of NYSE AZZ opened at $95.33 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.70 and a debt-to-equity ratio of 0.82. The company has a market cap of $2.86 billion, a P/E ratio of 59.95 and a beta of 1.25. AZZ Inc. has a 52 week low of $69.59 and a 52 week high of $99.49. The business has a 50-day simple moving average of $89.95 and a two-hundred day simple moving average of $88.12.

AZZ (NYSE:AZZ - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The industrial products company reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.03. The company had revenue of $351.88 million during the quarter, compared to analyst estimates of $367.78 million. AZZ had a net margin of 8.17% and a return on equity of 15.30%. Research analysts anticipate that AZZ Inc. will post 5.13 earnings per share for the current fiscal year.

AZZ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Thursday, July 10th. This is an increase from AZZ's previous quarterly dividend of $0.17. AZZ's dividend payout ratio (DPR) is 42.77%.

Insider Activity at AZZ

In related news, CEO Thomas E. Ferguson sold 26,889 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $85.88, for a total value of $2,309,227.32. Following the transaction, the chief executive officer now directly owns 211,458 shares in the company, valued at approximately $18,160,013.04. This represents a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.77% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AZZ has been the topic of a number of recent research reports. Sidoti cut AZZ from a "buy" rating to a "neutral" rating and set a $101.00 price target on the stock. in a research report on Monday, June 9th. Noble Financial reiterated an "outperform" rating on shares of AZZ in a research report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AZZ currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.00.

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.

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