Hodges Capital Management Inc. Sells 8,535 Shares of AZZ Inc. $AZZ

Key Points

• Hodges Capital Management cut its AZZ stake by 37.2% in the first quarter, selling 8,535 shares and leaving the fund with 14,400 shares worth about $1.8 million.
• AZZ reported stronger-than-expected quarterly results, posting EPS of $1.34 versus the $1.19 estimate and revenue of $385.1 million, with revenue up 9.4% year over year.
• The company raised its quarterly dividend to $0.24 per share from $0.20, while analysts maintain a generally positive view with a “Moderate Buy” consensus and an average price target of $152.

Hodges Capital Management Inc. lowered its position in AZZ Inc. (NYSE:AZZ - Free Report) by 37.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,400 shares of the industrial products company's stock after selling 8,535 shares during the period. Hodges Capital Management Inc.'s holdings in AZZ were worth $1,802,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Lido Advisors LLC boosted its holdings in AZZ by 3.0% during the fourth quarter. Lido Advisors LLC now owns 2,633 shares of the industrial products company's stock worth $286,000 after purchasing an additional 77 shares during the last quarter. Oliver Luxxe Assets LLC increased its stake in AZZ by 0.5% in the 4th quarter. Oliver Luxxe Assets LLC now owns 18,164 shares of the industrial products company's stock valued at $1,947,000 after buying an additional 96 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in 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 buying an additional 100 shares during the last quarter. LPL Financial LLC lifted 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 worth $1,135,000 after buying an additional 101 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of AZZ by 92.5% during the 4th quarter. Hantz Financial Services Inc. now owns 258 shares of the industrial products company's stock worth $28,000 after buying an additional 124 shares in the last quarter. 90.93% of the stock is owned by institutional investors.

AZZ Stock Up 1.6%

AZZ opened at $152.48 on Tuesday. AZZ Inc. has a twelve month low of $92.98 and a twelve month high of $162.20. The company's 50-day moving average price is $145.55 and its two-hundred day moving average price is $132.61. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 14.52 and a beta of 1.11. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 0.36.

AZZ (NYSE:AZZ - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.15. The company had revenue of $385.10 million during the quarter, compared to analyst estimates of $382.24 million. AZZ had a net margin of 19.23% and a return on equity of 14.47%. AZZ's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. AZZ has set its FY 2027 guidance at 6.500-7.000 EPS. As a group, equities analysts expect that AZZ Inc. will post 6.78 earnings per share for the current year.

AZZ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th will be given a $0.24 dividend. This is an increase from AZZ's previous quarterly dividend of $0.20. This represents a $0.96 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, July 9th. AZZ's dividend payout ratio (DPR) is 7.62%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AZZ shares. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of AZZ in a report on Wednesday, May 20th. Robert W. Baird lifted their price target on AZZ from $125.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, April 24th. Wall Street Zen raised AZZ from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Evercore restated an "outperform" rating and issued a $152.00 price objective on shares of AZZ in a research note on Monday, April 27th. Finally, B. Riley Financial raised their target price on AZZ from $167.00 to $169.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $152.00.

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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