Diamond Hill Capital Management LLC Investment Advisor Makes New $3.48 Million Investment in AZZ Inc. $AZZ

Key Points

• Diamond Hill Capital Management purchased 22,445 AZZ shares worth approximately $3.48 million, giving it a 0.07% stake. Institutional investors collectively own 90.93% of the company.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $155.25 and targets ranging from $144 to $170.
• AZZ reported quarterly earnings of $1.85 per share, exceeding estimates, while revenue rose 6.3% year over year to $448.53 million. The company also increased its quarterly dividend from $0.20 to $0.24 per share.

Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of AZZ Inc. (NYSE:AZZ - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 22,445 shares of the industrial products company's stock, valued at approximately $3,480,000. Diamond Hill Capital Management LLC Investment Advisor owned 0.07% of AZZ as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its position 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 acquiring an additional 124 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of AZZ during the 2nd quarter worth $30,000. Kestra Advisory Services LLC purchased a new stake in shares of AZZ during the 4th quarter worth $38,000. Clearstead Advisors LLC grew its stake in shares of AZZ by 184.3% during the 4th 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. Finally, Fifth Third Bancorp grew its stake in shares of AZZ by 55.9% during the 4th quarter. Fifth Third Bancorp now owns 382 shares of the industrial products company's stock worth $41,000 after purchasing an additional 137 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Evercore reiterated an "outperform" rating and set a $152.00 price target on shares of AZZ in a research report on Monday, April 27th. Weiss Ratings cut AZZ from a "buy (b+)" rating to a "buy (b)" rating in a report on Thursday, July 9th. Robert W. Baird raised their price objective on AZZ from $125.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Wells Fargo & Company lifted their price objective on AZZ from $138.00 to $144.00 and gave the stock an "equal weight" rating in a report on Friday, July 10th. Finally, B. Riley Financial boosted their target price on AZZ from $169.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $155.25.

Insider Activity

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

AZZ Trading Up 1.1%

Shares of AZZ stock opened at $152.98 on Tuesday. AZZ Inc. has a fifty-two week low of $92.98 and a fifty-two week high of $162.20. The business's fifty day moving average is $150.30 and its two-hundred day moving average is $139.65. The company has a quick ratio of 1.39, a current ratio of 1.92 and a debt-to-equity ratio of 0.35. The firm has a market cap of $4.60 billion, a PE ratio of 23.32 and a beta of 1.12.

AZZ (NYSE:AZZ - Get Free Report) last issued its earnings results on Wednesday, July 8th. The industrial products company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.05. The business had revenue of $448.53 million for the quarter, compared to analyst estimates of $434.58 million. AZZ had a return on equity of 14.18% and a net margin of 11.83%.The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company posted $1.78 EPS. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. Analysts anticipate that AZZ Inc. will post 6.93 earnings per share for the current year.

AZZ Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th were paid a $0.24 dividend. This is a boost from AZZ's previous quarterly dividend of $0.20. The ex-dividend date was Thursday, July 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.6%. AZZ's dividend payout ratio (DPR) is currently 14.63%.

About AZZ

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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