Legal & General Group Plc Acquires 318 Shares of AZZ Inc (AZZ)

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Legal & General Group Plc boosted its holdings in shares of AZZ Inc (NYSE:AZZ) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 61,884 shares of the industrial products company’s stock after buying an additional 318 shares during the quarter. Legal & General Group Plc’s holdings in AZZ were worth $2,499,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NumerixS Investment Technologies Inc bought a new stake in AZZ during the fourth quarter valued at approximately $36,000. Quantamental Technologies LLC bought a new stake in AZZ during the fourth quarter valued at approximately $83,000. United Services Automobile Association bought a new stake in AZZ during the third quarter valued at approximately $202,000. Mackay Shields LLC bought a new stake in AZZ during the fourth quarter valued at approximately $202,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in AZZ during the third quarter valued at approximately $281,000. Institutional investors own 89.35% of the company’s stock.

AZZ has been the subject of several recent research reports. Stifel Nicolaus restated a “hold” rating and set a $50.00 target price on shares of AZZ in a research report on Wednesday, December 19th. Zacks Investment Research upgraded shares of AZZ from a “sell” rating to a “hold” rating in a research report on Monday, March 18th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $55.33.

AZZ opened at $46.13 on Thursday. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 34.17 and a beta of 1.36. AZZ Inc has a 1-year low of $37.43 and a 1-year high of $56.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.87 and a quick ratio of 1.97.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.47%. AZZ’s payout ratio is currently 50.37%.

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AZZ Company Profile

AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.

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Institutional Ownership by Quarter for AZZ (NYSE:AZZ)

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