67,144 Shares in AZZ Inc. $AZZ Purchased by Legal & General Group Plc

Key Points

• Legal & General Group Plc purchased 67,144 AZZ shares during the second quarter, establishing a stake worth approximately $10.4 million and representing 0.22% of the company. Institutional investors collectively own 90.93% of AZZ.
• AZZ exceeded quarterly expectations, reporting $1.85 in EPS and $448.53 million in revenue, with revenue up 6.3% year over year. The company issued fiscal 2027 EPS guidance of $6.75–$7.15.
• AZZ raised its quarterly dividend from $0.20 to $0.24 per share, equivalent to $0.96 annually and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $155.25, while two company COOs recently sold shares.

Legal & General Group Plc purchased a new stake in AZZ Inc. (NYSE:AZZ - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 67,144 shares of the industrial products company's stock, valued at approximately $10,411,000. Legal & General Group Plc owned 0.22% of AZZ as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. grew its stake in shares of AZZ by 92.5% in the 4th quarter. Hantz Financial Services Inc. now owns 258 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 124 shares during the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of AZZ during the second quarter worth approximately $30,000. Kilter Group LLC purchased a new stake in shares of AZZ during the second quarter worth approximately $33,000. Kestra Advisory Services LLC acquired a new stake in shares of AZZ during the fourth quarter worth $38,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of AZZ by 184.3% during the fourth quarter. Clearstead Advisors LLC now owns 361 shares of the industrial products company's stock worth $39,000 after purchasing an additional 234 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

AZZ Price Performance

AZZ stock opened at $137.27 on Tuesday. The firm has a 50 day moving average of $148.13 and a 200-day moving average of $140.54. AZZ Inc. has a 12-month low of $92.98 and a 12-month high of $162.20. The company has a current ratio of 1.92, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 20.93 and a beta of 1.12.

AZZ (NYSE:AZZ - Get Free Report) last released its quarterly earnings results on Wednesday, July 8th. The industrial products company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.80 by $0.05. AZZ had a return on equity of 14.18% and a net margin of 11.83%.The business had revenue of $448.53 million for the quarter, compared to analysts' expectations of $434.58 million. During the same quarter in the prior year, the firm posted $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. As a group, equities analysts expect that AZZ Inc. will post 6.93 EPS 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 issued 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 of this dividend was Thursday, July 9th. AZZ's dividend payout ratio is currently 14.63%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. B. Riley Financial boosted their price objective on shares of AZZ from $169.00 to $170.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Wells Fargo & Company raised their target price on shares of AZZ from $138.00 to $144.00 and gave the stock an "equal weight" rating in a research note on Friday, July 10th. Wall Street Zen downgraded shares of AZZ from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Finally, Weiss Ratings cut shares of AZZ from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $155.25.

Insiders Place Their Bets

In related news, COO Bryan Lee Stovall sold 2,677 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $150.07, for a total value of $401,737.39. Following the sale, the chief operating officer directly owned 35,000 shares in the company, valued at $5,252,450. The trade was a 7.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey Vellines sold 4,220 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $153.55, for a total transaction of $647,981.00. Following the completion of the sale, the chief operating officer directly owned 1,834 shares in the company, valued at approximately $281,610.70. The trade was a 69.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.70% of the company's stock.

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.

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