35,042 Shares in AZZ Inc. $AZZ Bought by Abacus FCF Advisors LLC

Key Points

• Abacus FCF Advisors LLC acquired 35,042 AZZ shares worth approximately $5.43 million, representing about 0.12% of the company. Institutional investors collectively own 90.93% of AZZ.
• Analysts maintain a generally positive outlook, with four Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and a $155.25 price target.
• AZZ exceeded quarterly earnings and revenue expectations, reporting $1.85 in EPS and $448.53 million in revenue. The company also raised its quarterly dividend to $0.24 per share, or $0.96 annually.

Abacus FCF Advisors LLC acquired a new stake in shares of AZZ Inc. (NYSE:AZZ - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,042 shares of the industrial products company's stock, valued at approximately $5,433,000. Abacus FCF Advisors LLC owned about 0.12% of AZZ as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in AZZ. BlackRock Inc. bought a new stake in AZZ during the 2nd quarter worth approximately $719,876,000. Deutsche Bank AG bought a new position in AZZ in the 2nd quarter worth approximately $5,115,000. Crown Advisors Management Inc. bought a new position in AZZ in the 2nd quarter worth approximately $3,101,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in AZZ during the 2nd quarter valued at approximately $3,480,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of AZZ during the second quarter valued at approximately $35,818,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

Wall Street Analyst Weigh In

AZZ has been the subject of several research reports. Weiss Ratings downgraded shares of AZZ from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday, July 9th. Robert W. Baird lifted their price objective on AZZ from $125.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Evercore restated an "outperform" rating and issued a $152.00 price target on shares of AZZ in a research report on Monday, April 27th. Wall Street Zen downgraded shares of AZZ from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, Wells Fargo & Company lifted their price target on AZZ from $138.00 to $144.00 and gave the stock an "equal weight" rating in a research report on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $155.25.

AZZ Price Performance

AZZ opened at $143.73 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. AZZ Inc. has a 12-month low of $92.98 and a 12-month high of $162.20. The business's fifty day simple moving average is $150.42 and its 200-day simple moving average is $139.95. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of 21.91 and a beta of 1.12.

AZZ (NYSE:AZZ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 8th. The industrial products company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.05. AZZ had a net margin of 11.83% and a return on equity of 14.18%. The firm had revenue of $448.53 million during the quarter, compared to analysts' expectations of $434.58 million. During the same quarter in the prior year, the company earned $1.78 EPS. The company's revenue was up 6.3% compared to the same quarter last year. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. On average, equities research analysts anticipate that AZZ Inc. will post 6.93 earnings per share for the current fiscal year.

AZZ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.7%. This is a positive change from AZZ's previous quarterly dividend of $0.20. The ex-dividend date was Thursday, July 9th. AZZ's payout ratio is 14.63%.

Insider Activity at AZZ

In other AZZ news, COO Bryan Lee Stovall sold 2,677 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $150.07, for a total value of $401,737.39. Following the completion of the sale, the chief operating officer directly owned 35,000 shares in the company, valued at approximately $5,252,450. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey Vellines sold 4,220 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $153.55, for a total transaction of $647,981.00. Following the transaction, the chief operating officer owned 1,834 shares in the company, valued at $281,610.70. The trade was a 69.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.70% of the stock is owned by company insiders.

AZZ Profile

AZZ Inc, incorporated in 1956 and headquartered in Fort Worth, Texas, is a leading provider of galvanizing and metal finishing solutions alongside electrical equipment and services. The company supports a diverse range of industries—such as energy, infrastructure, heavy equipment and general industrial markets—by delivering corrosion protection and high-performance electrical solutions designed for demanding environments.

AZZ operates two primary business segments. The Global Coatings & Services segment offers hot-dip galvanizing, metal finishing, painting, powder coating and related value-added services to steel fabricators and original equipment manufacturers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source