Trexquant Investment LP Invests $316,000 in AZZ Inc (AZZ) Stock

Trexquant Investment LP purchased a new stake in AZZ Inc (NYSE:AZZ) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,253 shares of the industrial products company’s stock, valued at approximately $316,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Rhumbline Advisers lifted its position in shares of AZZ by 2.9% in the second quarter. Rhumbline Advisers now owns 66,254 shares of the industrial products company’s stock worth $2,879,000 after purchasing an additional 1,894 shares in the last quarter. Gabelli Funds LLC lifted its position in shares of AZZ by 2.0% in the third quarter. Gabelli Funds LLC now owns 104,000 shares of the industrial products company’s stock worth $5,252,000 after purchasing an additional 2,000 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of AZZ by 5.3% in the third quarter. Wells Fargo & Company MN now owns 40,666 shares of the industrial products company’s stock worth $2,053,000 after purchasing an additional 2,042 shares in the last quarter. Legal & General Group Plc lifted its position in shares of AZZ by 5.0% in the second quarter. Legal & General Group Plc now owns 54,826 shares of the industrial products company’s stock worth $2,372,000 after purchasing an additional 2,590 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. lifted its position in shares of AZZ by 4.4% in the second quarter. Eagle Boston Investment Management Inc. now owns 91,618 shares of the industrial products company’s stock worth $3,980,000 after purchasing an additional 3,835 shares in the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AZZ stock opened at $44.15 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.13 and a current ratio of 3.14. The firm has a market capitalization of $1.17 billion, a PE ratio of 32.70 and a beta of 1.40. AZZ Inc has a 12 month low of $39.50 and a 12 month high of $56.05.

AZZ (NYSE:AZZ) last announced its quarterly earnings data on Tuesday, October 9th. The industrial products company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.04). AZZ had a return on equity of 5.43% and a net margin of 5.63%. The business had revenue of $222.80 million during the quarter, compared to the consensus estimate of $224.50 million. During the same period in the prior year, the firm earned $0.32 EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. Analysts anticipate that AZZ Inc will post 2.2 earnings per share for the current fiscal year.

In other news, insider Thomas E. Ferguson purchased 5,000 shares of the company’s stock in a transaction on Monday, October 22nd. The shares were purchased at an average cost of $45.77 per share, with a total value of $228,850.00. Following the completion of the transaction, the insider now owns 62,099 shares of the company’s stock, valued at approximately $2,842,271.23. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Paul Wesley Fehlman purchased 1,000 shares of the company’s stock in a transaction on Monday, October 22nd. The shares were purchased at an average cost of $45.48 per share, for a total transaction of $45,480.00. Following the completion of the transaction, the chief financial officer now directly owns 12,755 shares of the company’s stock, valued at approximately $580,097.40. The disclosure for this purchase can be found here. Corporate insiders own 0.01% of the company’s stock.

A number of analysts have recently commented on AZZ shares. Zacks Investment Research lowered shares of AZZ from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 11th. ValuEngine lowered shares of AZZ from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. TheStreet lowered shares of AZZ from a “b-” rating to a “c+” rating in a research report on Monday, October 8th. Finally, Sidoti raised shares of AZZ from a “neutral” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Monday, October 29th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. AZZ has an average rating of “Buy” and a consensus price target of $54.33.

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About AZZ

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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