SEB Asset Management AB Makes New Investment in AZZ Inc. $AZZ

Key Points

• SEB Asset Management AB opened a new position in AZZ during the first quarter, buying 362,003 shares worth about $45.3 million. The stake represented about 1.21% of AZZ based on its latest SEC filing.
• AZZ reported better-than-expected quarterly results, posting EPS of $1.85 versus estimates of $1.80 and revenue of $448.53 million, which topped forecasts. Revenue also rose 6.3% year over year.
• The company also raised its quarterly dividend to $0.24 per share from $0.20, implying an annualized dividend of $0.96 and a yield of about 0.7%. Analysts currently rate the stock a Moderate Buy with a consensus price target of $155.25.

SEB Asset Management AB bought a new stake in AZZ Inc. (NYSE:AZZ - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 362,003 shares of the industrial products company's stock, valued at approximately $45,297,000. SEB Asset Management AB owned 1.21% of AZZ as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in AZZ. Hantz Financial Services Inc. raised 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 purchasing an additional 124 shares during the period. Osterweis Capital Management Inc. acquired a new position in AZZ during the 2nd quarter valued at approximately $30,000. Kestra Advisory Services LLC bought a new position in AZZ during the 4th quarter worth $38,000. Clearstead Advisors LLC grew its stake in 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 buying an additional 234 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in AZZ by 55.9% in the fourth quarter. Fifth Third Bancorp now owns 382 shares of the industrial products company's stock worth $41,000 after buying an additional 137 shares during the period. 90.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AZZ shares. B. Riley Financial raised their target price on AZZ from $169.00 to $170.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Wall Street Zen lowered shares of AZZ from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Wells Fargo & Company increased their price objective on shares of AZZ from $138.00 to $144.00 and gave the stock an "equal weight" rating in a report on Friday, July 10th. Evercore reiterated an "outperform" rating and issued a $152.00 price objective on shares of AZZ in a research report on Monday, April 27th. Finally, Robert W. Baird boosted their target price on shares of AZZ from $125.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, AZZ has an average rating of "Moderate Buy" and a consensus price target of $155.25.

AZZ Price Performance

Shares of NYSE AZZ opened at $147.08 on Friday. AZZ Inc. has a fifty-two week low of $92.98 and a fifty-two week high of $162.20. The firm's 50-day simple moving average is $146.08 and its 200 day simple moving average is $134.79. 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 stock has a market cap of $4.42 billion, a P/E ratio of 22.42 and a beta of 1.11.

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

AZZ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.7%. This is a boost from AZZ's previous quarterly dividend of $0.20. The ex-dividend date is Thursday, July 9th. AZZ's payout ratio is 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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