Gabelli Funds LLC lessened its holdings in shares of AZZ Inc. (NYSE:AZZ – Free Report) by 18.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,238 shares of the industrial products company’s stock after selling 37,608 shares during the period. Gabelli Funds LLC’s holdings in AZZ were worth $20,926,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of AZZ. Wedge Capital Management L L P NC acquired a new stake in shares of AZZ in the fourth quarter valued at approximately $2,120,000. Aberdeen Group plc purchased a new position in AZZ during the fourth quarter worth approximately $18,429,000. Vanguard Group Inc. lifted its position in AZZ by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 3,357,370 shares of the industrial products company’s stock worth $359,843,000 after buying an additional 80,099 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in AZZ by 78.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 232,510 shares of the industrial products company’s stock worth $24,920,000 after buying an additional 102,133 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in AZZ in the 4th quarter valued at $429,000. Institutional investors and hedge funds own 90.93% of the company’s stock.
AZZ Stock Performance
NYSE AZZ opened at $150.20 on Friday. The stock has a fifty day simple moving average of $146.52 and a 200-day simple moving average of $136.25. The company has a current ratio of 1.92, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The stock has a market cap of $4.51 billion, a PE ratio of 22.90 and a beta of 1.11. AZZ Inc. has a twelve month low of $92.98 and a twelve month high of $162.20.
AZZ Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be paid a $0.24 dividend. This is a positive change from AZZ’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.6%. AZZ’s payout ratio is presently 14.63%.
Analyst Upgrades and Downgrades
A number of 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 stock 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 report on Sunday, July 12th. Wells Fargo & Company raised their price objective on shares of AZZ from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Evercore reaffirmed an “outperform” rating and set a $152.00 target price on shares of AZZ in a research note 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 report on Friday, April 24th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $155.25.
Check Out Our Latest Stock Analysis on AZZ
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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