AZZ (NYSE:AZZ) Hits New 1-Year High - What's Next?

Key Points

• AZZ Inc. (NYSE:AZZ) reached a new 52-week high at $118.78, with strong trading volume, showing significant investor interest.
• Analysts have upgraded AZZ's stock ratings, with a consensus rating of "Moderate Buy" and an increased price target of $112.29, indicating positive growth expectations.
• The company announced an increase in its quarterly dividend, raising it from $0.17 to $0.20 per share, reflecting a commitment to returning value to shareholders.

AZZ Inc. (NYSE:AZZ - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $118.78 and last traded at $118.27, with a volume of 69105 shares changing hands. The stock had previously closed at $115.42.

Wall Street Analysts Forecast Growth

AZZ has been the subject of several recent research reports. Wells Fargo & Company raised AZZ to a "strong-buy" rating in a research report on Thursday, August 14th. Robert W. Baird boosted their target price on shares of AZZ from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Friday, August 15th. Evercore ISI increased their price target on shares of AZZ from $90.00 to $108.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Sidoti lowered shares of AZZ from a "buy" rating to a "neutral" rating and set a $101.00 price objective for the company. in a research note on Monday, June 9th. Finally, Wall Street Zen raised shares of AZZ from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.29.

AZZ Stock Up 3.9%

The stock has a market capitalization of $3.60 billion, a PE ratio of 13.89 and a beta of 1.30. The company has a current ratio of 1.51, a quick ratio of 1.10 and a debt-to-equity ratio of 0.47. The company's 50-day moving average is $110.55 and its 200 day moving average is $95.97.

AZZ (NYSE:AZZ - Get Free Report) last released its earnings results on Wednesday, July 9th. The industrial products company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.19. The company had revenue of $421.96 million for the quarter, compared to the consensus estimate of $435.91 million. AZZ had a net margin of 16.40% and a return on equity of 15.54%. AZZ's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. AZZ has set its FY 2026 guidance at 5.750-6.250 EPS. As a group, analysts anticipate that AZZ Inc. will post 5.13 EPS for the current year.

AZZ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.7%. This is an increase from AZZ's previous quarterly dividend of $0.17. AZZ's payout ratio is presently 9.27%.

Insider Buying and Selling at AZZ

In related news, CEO Thomas E. Ferguson sold 26,516 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $110.85, for a total value of $2,939,298.60. Following the sale, the chief executive officer owned 183,182 shares in the company, valued at $20,305,724.70. This represents a 12.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Bryan Lee Stovall sold 5,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $111.60, for a total transaction of $558,000.00. Following the transaction, the chief operating officer directly owned 22,709 shares of the company's stock, valued at approximately $2,534,324.40. This trade represents a 18.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,837 shares of company stock worth $5,195,318. 1.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AZZ

Hedge funds have recently modified their holdings of the company. Huntington National Bank boosted its position in AZZ by 206.7% during the second quarter. Huntington National Bank now owns 273 shares of the industrial products company's stock worth $26,000 after purchasing an additional 184 shares in the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of AZZ during the 2nd quarter worth approximately $30,000. Signaturefd LLC lifted its position in shares of AZZ by 110.0% during the 1st quarter. Signaturefd LLC now owns 399 shares of the industrial products company's stock valued at $33,000 after buying an additional 209 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in AZZ in the 2nd quarter valued at $34,000. Finally, GAMMA Investing LLC increased its holdings in AZZ by 39.6% in the 2nd quarter. GAMMA Investing LLC now owns 374 shares of the industrial products company's stock worth $35,000 after acquiring an additional 106 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

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.

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