AZZ Inc. $AZZ Shares Sold by Robeco Schweiz AG

Robeco Schweiz AG cut its holdings in AZZ Inc. (NYSE:AZZ) by 57.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,600 shares of the industrial products company’s stock after selling 62,475 shares during the period. Robeco Schweiz AG owned about 0.16% of AZZ worth $6,263,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of AZZ during the 2nd quarter worth about $719,876,000. SEB Asset Management AB purchased a new position in shares of AZZ in the 1st quarter valued at about $45,297,000. Bank of New York Mellon Corp acquired a new stake in shares of AZZ during the 2nd quarter worth about $35,818,000. Bank of America Corp DE acquired a new stake in shares of AZZ during the 2nd quarter worth about $32,505,000. Finally, Sei Investments Co. raised its position in shares of AZZ by 50.5% during the 1st quarter. Sei Investments Co. now owns 102,027 shares of the industrial products company’s stock worth $12,768,000 after acquiring an additional 34,241 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AZZ has been the subject of several recent analyst reports. B. Riley Financial boosted their target price on AZZ from $170.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, October 15th. Wall Street Zen upgraded shares of AZZ from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Robert W. Baird cut their price objective on shares of AZZ from $155.00 to $150.00 and set a “neutral” rating on the stock in a report on Thursday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of AZZ in a report on Tuesday, October 6th. Finally, Barclays boosted their price objective on shares of AZZ from $140.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $153.20.

AZZ Stock Performance

Shares of AZZ stock opened at $132.40 on Friday. The stock’s 50-day moving average is $137.34 and its two-hundred day moving average is $142.38. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 23.86 and a beta of 1.13. AZZ Inc. has a 1 year low of $94.61 and a 1 year high of $162.20. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.27 and a current ratio of 1.79.

AZZ (NYSE:AZZ) last posted its earnings results on Tuesday, October 13th. The industrial products company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.12. AZZ had a return on equity of 14.85% and a net margin of 9.59%. The business had revenue of $486.89 million for the quarter, compared to analysts’ expectations of $467.14 million. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The business’s revenue was up 16.7% compared to the same quarter last year. AZZ has set its FY 2027 guidance at 7.000-7.300 EPS. Analysts predict that AZZ Inc. will post 7.16 earnings per share for the current year.

AZZ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Monday, October 19th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, October 19th. This represents a $0.96 annualized dividend and a yield of 0.7%. AZZ’s payout ratio is 17.30%.

Insider Activity at AZZ

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

AZZ Profile

AZZ Inc is a provider of metal-coating solutions serving customers primarily in North America. The company operates through its Metal Coatings and Precoat Metals businesses, helping protect and enhance the performance, durability and appearance of steel and other metal products used across industrial and commercial markets.

AZZ’s Metal Coatings business provides hot-dip galvanizing and other corrosion-protection services for fabricated steel products. Its offerings support infrastructure, transportation, utility, construction, industrial and agricultural applications.