AZZ Inc. $AZZ Shares Acquired by Assetmark Inc.

Key Points

• Assetmark Inc. dramatically increased its position in AZZ, lifting its stake by 8,397.4% in the first quarter to 39,003 shares worth about $4.88 million.
• AZZ recently reported better-than-expected quarterly results, with EPS of $1.85 versus $1.80 expected and revenue of $448.53 million, while revenue rose 6.3% year over year.
• The company also raised its quarterly dividend to $0.24 per share from $0.20, and analysts currently view the stock as a Moderate Buy with a consensus target price of $155.25.

Assetmark Inc. lifted its stake in AZZ Inc. (NYSE:AZZ - Free Report) by 8,397.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,003 shares of the industrial products company's stock after purchasing an additional 38,544 shares during the period. Assetmark Inc. owned about 0.13% of AZZ worth $4,880,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wedge Capital Management L L P NC acquired a new stake in AZZ in the fourth quarter valued at approximately $2,120,000. Aberdeen Group plc purchased a new stake in shares of AZZ in the 4th quarter valued at approximately $18,429,000. Vanguard Group Inc. raised its holdings in shares of AZZ by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 3,357,370 shares of the industrial products company's stock valued at $359,843,000 after purchasing an additional 80,099 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of AZZ by 7.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 163,954 shares of the industrial products company's stock worth $17,892,000 after purchasing an additional 11,405 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of AZZ by 78.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 232,510 shares of the industrial products company's stock worth $24,920,000 after purchasing an additional 102,133 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

AZZ Price Performance

AZZ stock opened at $150.34 on Wednesday. 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 capitalization of $4.52 billion, a P/E ratio of 22.92 and a beta of 1.11. The business has a 50 day simple moving average of $146.09 and a 200-day simple moving average of $135.54. AZZ Inc. has a twelve month low of $92.98 and a twelve month high of $162.20.

AZZ (NYSE:AZZ - Get Free Report) last announced its earnings results on Wednesday, July 8th. The industrial products company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.80 by $0.05. The business had revenue of $448.53 million for the quarter, compared to analysts' expectations of $434.58 million. AZZ had a net margin of 11.83% and a return on equity of 14.18%. The company's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.78 EPS. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. As a group, equities analysts anticipate that AZZ Inc. will post 6.94 EPS for the current year.

AZZ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.6%. This is a positive change from AZZ's previous quarterly dividend of $0.20. The ex-dividend date is Thursday, July 9th. AZZ's payout ratio is currently 14.63%.

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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