Bank of New York Mellon Corp Invests $35.82 Million in AZZ Inc. $AZZ

Key Points

• Bank of New York Mellon acquired 231,010 AZZ shares worth approximately $35.82 million, giving it a 0.77% stake. Institutional investors collectively own 90.93% of the company.
• Analysts maintain a “Moderate Buy” consensus on AZZ, with an average price target of $155.25; ratings include four Buys and two Holds.
• 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 from $0.20 to $0.24 per share, though two chief operating officers recently sold shares.

Bank of New York Mellon Corp bought a new stake in AZZ Inc. (NYSE:AZZ - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 231,010 shares of the industrial products company's stock, valued at approximately $35,818,000. Bank of New York Mellon Corp owned 0.77% of AZZ at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AZZ. Lido Advisors LLC raised its holdings in AZZ by 3.0% in the fourth quarter. Lido Advisors LLC now owns 2,633 shares of the industrial products company's stock valued at $286,000 after acquiring an additional 77 shares in the last quarter. Contravisory Investment Management Inc. raised its stake in AZZ by 3.7% during the second quarter. Contravisory Investment Management Inc. now owns 2,723 shares of the industrial products company's stock valued at $422,000 after buying an additional 97 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of AZZ by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,882 shares of the industrial products company's stock valued at $738,000 after acquiring an additional 100 shares during the last quarter. LPL Financial LLC raised its position in shares of AZZ by 1.0% during the 4th quarter. LPL Financial LLC now owns 10,593 shares of the industrial products company's stock valued at $1,135,000 after acquiring an additional 101 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in AZZ by 92.5% in the fourth quarter. Hantz Financial Services Inc. now owns 258 shares of the industrial products company's stock worth $28,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.

Analyst Upgrades and Downgrades

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

AZZ Stock Performance

AZZ opened at $138.61 on Friday. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 21.13 and a beta of 1.12. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.92 and a quick ratio of 1.39. AZZ Inc. has a 1-year low of $92.98 and a 1-year high of $162.20. The business has a 50 day moving average price of $148.54 and a two-hundred day moving average price of $140.48.

AZZ (NYSE:AZZ - Get Free Report) last posted its quarterly earnings data on Wednesday, July 8th. The industrial products company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.80 by $0.05. The company had revenue of $448.53 million for 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 quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.78 EPS. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. Research analysts predict that AZZ Inc. will post 6.93 EPS for the current fiscal year.

AZZ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 9th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.96 dividend on an annualized basis and a yield of 0.7%. This is an increase from AZZ's previous quarterly dividend of $0.20. AZZ's dividend payout ratio (DPR) is 14.63%.

Insider Activity

In other news, COO Bryan Lee Stovall sold 2,677 shares of the firm's stock in a transaction on 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 owned 35,000 shares of the company's stock, valued at $5,252,450. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Jeffrey Vellines sold 4,220 shares of AZZ stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $153.55, for a total value of $647,981.00. Following the transaction, the chief operating officer owned 1,834 shares in the company, valued at $281,610.70. This represents a 69.71% decrease in their position. The SEC filing for this sale provides additional information. 1.70% of the stock is currently owned by insiders.

AZZ Company 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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