  The velocity distribution of nearby stars contains many "moving groups" that
are inconsistent with the standard assumption of an axisymmetric,
time-independent, and steady-state Galaxy. We study the age and metallicity
properties of the low-velocity moving groups based on the reconstruction of the
local velocity distribution in Paper I of this series. We perform stringent,
conservative hypothesis testing to establish for each of these moving groups
whether it could conceivably consist of a coeval population of stars. We
conclude that they do not: the moving groups are not trivially associated with
their eponymous open clusters nor with any other inhomogeneous star formation
event. Concerning a possible dynamical origin of the moving groups, we test
whether any of the moving groups has a higher or lower metallicity than the
background population of thin disk stars, as would generically be the case if
the moving groups are associated with resonances of the bar or spiral
structure. We find clear evidence that the Hyades moving group has higher than
average metallicity and weak evidence that the Sirius moving group has lower
than average metallicity, which could indicate that these two groups are
related to the inner Lindblad resonance of the spiral structure. Further we
find weak evidence that the Hercules moving group has higher than average
metallicity, as would be the case if it is associated with the bar's outer
Lindblad resonance. The Pleiades moving group shows no clear metallicity
anomaly, arguing against a common dynamical origin for the Hyades and Pleiades
groups. Overall, however, the moving groups are barely distinguishable from the
background population of stars, raising the likelihood that the moving groups
are associated with transient perturbations. [abridged]
