Trexquant Investment LP Purchases Shares of 6,253 AZZ Inc (AZZ)

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Trexquant Investment LP purchased a new stake in AZZ Inc (NYSE:AZZ) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 6,253 shares of the industrial products company’s stock, valued at approximately $316,000.

Several other hedge funds have also added to or reduced their stakes in AZZ. BlackRock Inc. grew its stake in shares of AZZ by 7.4% in the second quarter. BlackRock Inc. now owns 3,534,695 shares of the industrial products company’s stock valued at $153,583,000 after acquiring an additional 242,714 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of AZZ by 12.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,227,003 shares of the industrial products company’s stock valued at $53,313,000 after acquiring an additional 138,458 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of AZZ by 78.7% in the second quarter. Russell Investments Group Ltd. now owns 276,832 shares of the industrial products company’s stock valued at $12,025,000 after acquiring an additional 121,930 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of AZZ by 21.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 475,313 shares of the industrial products company’s stock valued at $20,653,000 after acquiring an additional 83,359 shares in the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new position in shares of AZZ in the second quarter valued at about $3,290,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

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

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. AZZ Inc has a 52 week low of $39.50 and a 52 week high of $56.05. The stock has a market capitalization of $1.17 billion, a P/E ratio of 32.70 and a beta of 1.40.

AZZ (NYSE:AZZ) last posted its quarterly earnings data on Tuesday, October 9th. The industrial products company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $222.80 million for the quarter, compared to the consensus estimate of $224.50 million. During the same period in the prior year, the company earned $0.32 EPS. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, analysts predict that AZZ Inc will post 2.2 EPS for the current year.

Several equities analysts recently commented on AZZ shares. ValuEngine downgraded shares of AZZ from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Zacks Investment Research downgraded shares of AZZ from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Sidoti upgraded shares of AZZ from a “neutral” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Monday, October 29th. Finally, TheStreet downgraded shares of AZZ from a “b-” rating to a “c+” rating in a research note on Monday, October 8th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. AZZ has a consensus rating of “Buy” and an average target price of $54.33.

TRADEMARK VIOLATION NOTICE: “Trexquant Investment LP Purchases Shares of 6,253 AZZ Inc (AZZ)” was first posted by BBNS and is owned by of BBNS. If you are reading this report on another site, it was stolen and reposted in violation of US & international copyright law. The legal version of this report can be accessed at https://baseballnewssource.com/2018/12/08/trexquant-investment-lp-purchases-shares-of-6253-azz-inc-azz/3065435.html.

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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Want to see what other hedge funds are holding AZZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AZZ Inc (NYSE:AZZ).

Institutional Ownership by Quarter for AZZ (NYSE:AZZ)

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