AZZ Inc. $AZZ Shares Bought by Lazard Asset Management LLC

Key Points

• Lazard Asset Management increased its AZZ stake by 958.7% in the first quarter, holding 29,083 shares worth approximately $3.64 million. Institutional investors collectively own 90.93% of the company.
• AZZ exceeded quarterly expectations, reporting $1.85 in earnings per share versus the $1.80 consensus and revenue of $448.53 million, up 6.3% year over year.
• The company raised its quarterly dividend from $0.20 to $0.24 per share, while analysts maintain a “Moderate Buy” consensus with an average price target of $155.25.

Lazard Asset Management LLC raised its holdings in AZZ Inc. (NYSE:AZZ - Free Report) by 958.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,083 shares of the industrial products company's stock after buying an additional 26,336 shares during the period. Lazard Asset Management LLC owned approximately 0.10% of AZZ worth $3,639,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Aberdeen Group plc purchased a new stake in shares of AZZ during the fourth quarter worth $18,429,000. Vanguard Group Inc. boosted its holdings in AZZ by 2.4% in the fourth 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 during the period. Allspring Global Investments Holdings LLC grew its stake in 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 in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in AZZ during the 4th quarter worth $429,000. Finally, Pier Capital LLC purchased a new stake in AZZ during the 4th quarter worth about $7,606,000. Institutional investors and hedge funds own 90.93% of the company's stock.

AZZ Trading Down 0.0%

AZZ opened at $144.96 on Friday. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 22.10 and a beta of 1.11. AZZ Inc. has a 52 week low of $92.98 and a 52 week high of $162.20. The business's 50 day moving average is $147.30 and its two-hundred day moving average is $137.34. The company has a quick ratio of 1.39, a current ratio of 1.92 and a debt-to-equity ratio of 0.35.

AZZ (NYSE:AZZ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 8th. The industrial products company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.05. The business had revenue of $448.53 million during the quarter, compared to the consensus estimate of $434.58 million. AZZ had a return on equity of 14.18% and a net margin of 11.83%.The company's revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 earnings per share. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. On average, research analysts predict that AZZ Inc. will post 6.94 EPS for the current year.

AZZ Increases Dividend

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

Analyst Ratings Changes

A number of research firms have issued reports on AZZ. Evercore reaffirmed an "outperform" rating and issued a $152.00 price target on shares of AZZ in a research report on Monday, April 27th. Weiss Ratings downgraded AZZ from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, July 9th. Robert W. Baird upped their target price on shares of AZZ from $125.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Wells Fargo & Company raised 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. Finally, B. Riley Financial lifted their price target on shares of AZZ from $169.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $155.25.

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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