AZZ Inc. (NYSE:AZZ) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in shares of AZZ Inc. (NYSE:AZZ - Free Report) by 19.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 882,308 shares of the industrial products company's stock after buying an additional 142,215 shares during the quarter. Wellington Management Group LLP owned about 2.95% of AZZ worth $72,279,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AZZ. Bank of America Corp DE lifted its stake in shares of AZZ by 554.6% during the 4th quarter. Bank of America Corp DE now owns 251,823 shares of the industrial products company's stock worth $20,629,000 after purchasing an additional 213,355 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of AZZ in the 4th quarter worth $10,612,000. T. Rowe Price Investment Management Inc. raised its position in shares of AZZ by 4.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,729,287 shares of the industrial products company's stock worth $223,584,000 after buying an additional 124,392 shares during the period. Intrinsic Edge Capital Management LLC acquired a new position in AZZ in the fourth quarter valued at $7,500,000. Finally, Norges Bank purchased a new stake in AZZ during the fourth quarter valued at about $7,002,000. Institutional investors and hedge funds own 90.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. B. Riley lifted their price target on shares of AZZ from $99.00 to $111.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Noble Financial reaffirmed an "outperform" rating on shares of AZZ in a research report on Thursday, March 6th. Roth Capital raised shares of AZZ to a "strong-buy" rating in a research report on Tuesday, February 11th. Roth Mkm assumed coverage on shares of AZZ in a research report on Tuesday, February 11th. They set a "buy" rating and a $108.00 price target on the stock. Finally, Sidoti raised shares of AZZ from a "neutral" rating to a "buy" rating and set a $101.00 price target on the stock in a research report on Wednesday, April 9th. Three investment 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 stock. Based on data from MarketBeat, AZZ currently has an average rating of "Moderate Buy" and a consensus price target of $100.71.

AZZ Stock Up 2.6%

Shares of NYSE:AZZ traded up $2.33 during midday trading on Monday, reaching $93.02. The company had a trading volume of 304,828 shares, compared to its average volume of 222,330. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.77 and a quick ratio of 1.26. The stock's fifty day moving average price is $86.22 and its 200-day moving average price is $88.31. The stock has a market capitalization of $2.78 billion, a P/E ratio of 62.85, a PEG ratio of 1.32 and a beta of 1.25. AZZ Inc. has a one year low of $69.59 and a one year high of $99.49.

AZZ (NYSE:AZZ - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.03. The business had revenue of $351.88 million during the quarter, compared to analyst estimates of $367.78 million. AZZ had a net margin of 7.94% and a return on equity of 16.99%. Equities research analysts expect 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 was paid on Thursday, May 15th. Investors of record on Thursday, April 24th were paid a $0.17 dividend. The ex-dividend date was Thursday, April 24th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.73%. AZZ's dividend payout ratio (DPR) is presently 42.77%.

Insider Buying and Selling

In related news, CEO Thomas E. Ferguson sold 18,851 shares of AZZ stock in a transaction on Monday, May 5th. The shares were sold at an average price of $89.91, for a total value of $1,694,893.41. Following the completion of the sale, the chief executive officer now owns 192,607 shares in the company, valued at approximately $17,317,295.37. The trade was a 8.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company's stock.

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.