Brant Point Investment Management LLC Buys Shares of 28,000 AZZ Inc. $AZZ

Key Points

• Brant Point Investment Management LLC has acquired a new stake in AZZ Inc., purchasing 28,000 shares valued at approximately $2.34 million.
• AZZ recently reported earnings of $1.78 per share, exceeding analysts' expectations, and announced a quarterly dividend increase to $0.20, showing a positive change from the previous dividend payment.
• Insider sales at AZZ included significant transactions by CEO Thomas E. Ferguson and other executives, indicating a 12.64% decrease in Ferguson's ownership following his sale of 26,516 shares.

Brant Point Investment Management LLC purchased a new position in shares of AZZ Inc. (NYSE:AZZ - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 28,000 shares of the industrial products company's stock, valued at approximately $2,341,000. Brant Point Investment Management LLC owned about 0.09% of AZZ at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AZZ. Envestnet Asset Management Inc. lifted its holdings in AZZ by 20.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 9,749 shares of the industrial products company's stock worth $799,000 after buying an additional 1,685 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in AZZ by 5.8% during the 4th quarter. MetLife Investment Management LLC now owns 17,934 shares of the industrial products company's stock worth $1,469,000 after buying an additional 977 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in AZZ by 35.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,298 shares of the industrial products company's stock worth $106,000 after buying an additional 341 shares during the last quarter. State of Tennessee Department of Treasury lifted its holdings in AZZ by 13.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 13,120 shares of the industrial products company's stock worth $1,075,000 after buying an additional 1,532 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of AZZ by 7.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 28,264 shares of the industrial products company's stock valued at $2,316,000 after purchasing an additional 1,882 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AZZ has been the topic of a number of research reports. Sidoti downgraded AZZ from a "buy" rating to a "neutral" rating and set a $101.00 price target on the stock. in a research note on Monday, June 9th. Robert W. Baird raised their price target on AZZ from $110.00 to $120.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th. Zacks Research downgraded AZZ from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Evercore ISI upped their price objective on AZZ from $90.00 to $108.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, Noble Financial reaffirmed an "outperform" rating on shares of AZZ in a research note on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $112.29.

AZZ Stock Performance

AZZ traded down $1.94 on Monday, hitting $113.06. 170,812 shares of the company traded hands, compared to its average volume of 279,804. The company has a quick ratio of 1.10, a current ratio of 1.51 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $107.24 and a 200-day moving average of $95.00. AZZ Inc. has a 12-month low of $70.90 and a 12-month high of $117.35. The stock has a market capitalization of $3.39 billion, a PE ratio of 13.10 and a beta of 1.30.

AZZ (NYSE:AZZ - Get Free Report) last released its earnings results on Wednesday, July 9th. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.19. AZZ had a return on equity of 15.54% and a net margin of 16.40%.The company had revenue of $421.96 million for the quarter, compared to analysts' expectations of $435.91 million. During the same quarter in the previous year, the firm posted $1.46 EPS. The firm's quarterly revenue was up 2.1% on a year-over-year basis. AZZ has set its FY 2026 guidance at 5.750-6.250 EPS. Sell-side analysts anticipate that AZZ Inc. will post 5.13 earnings per share for the current year.

AZZ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, July 10th. This is a positive change from AZZ's previous quarterly dividend of $0.17. AZZ's payout ratio is presently 9.27%.

Insiders Place Their Bets

In other AZZ news, COO Bryan Lee Stovall sold 5,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $111.60, for a total transaction of $558,000.00. Following the transaction, the chief operating officer owned 22,709 shares in the company, valued at approximately $2,534,324.40. The trade was a 18.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kurt L. Russell sold 10,321 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $112.21, for a total value of $1,158,119.41. Following the completion of the sale, the insider owned 16,804 shares in the company, valued at approximately $1,885,576.84. This represents a 38.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,837 shares of company stock worth $5,195,318. Company insiders own 1.77% of the company's stock.

AZZ Company Profile

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.