State of Alaska Department of Revenue Raises Holdings in AZZ Inc. $AZZ

State of Alaska Department of Revenue increased its position in AZZ Inc. (NYSE:AZZ) by 36.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,905 shares of the industrial products company’s stock after buying an additional 6,107 shares during the quarter. State of Alaska Department of Revenue owned about 0.08% of AZZ worth $2,453,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of AZZ by 9.7% in the 3rd quarter. Principal Financial Group Inc. now owns 162,812 shares of the industrial products company’s stock worth $17,768,000 after buying an additional 14,430 shares during the period. AlphaQuest LLC purchased a new position in shares of AZZ in the 3rd quarter worth $1,032,000. Robeco Schweiz AG purchased a new position in shares of AZZ in the 3rd quarter worth $4,365,000. Assenagon Asset Management S.A. purchased a new position in shares of AZZ in the 3rd quarter worth $1,671,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of AZZ in the 3rd quarter worth $2,127,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

AZZ Stock Up 2.7%

Shares of AZZ stock opened at $137.38 on Friday. The business has a 50-day moving average of $130.38 and a 200-day moving average of $116.36. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.66 and a quick ratio of 1.21. The company has a market capitalization of $4.10 billion, a PE ratio of 12.91 and a beta of 1.15. AZZ Inc. has a 1-year low of $74.00 and a 1-year high of $141.18.

AZZ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 23rd will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, April 23rd. This represents a $0.80 annualized dividend and a dividend yield of 0.6%. AZZ’s dividend payout ratio (DPR) is currently 7.52%.

AZZ announced that its Board of Directors has authorized a stock repurchase plan on Friday, January 30th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AZZ. Robert W. Baird set a $125.00 target price on AZZ in a research report on Friday, January 9th. Evercore reaffirmed an “outperform” rating and issued a $137.00 target price on shares of AZZ in a research report on Wednesday, March 4th. Noble Financial reaffirmed an “outperform” rating on shares of AZZ in a research report on Tuesday, February 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AZZ in a research report on Monday, December 29th. Finally, Wall Street Zen raised AZZ from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.00.

Insider Activity

In other news, insider Tara D. Mackey sold 2,923 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $136.00, for a total transaction of $397,528.00. Following the completion of the sale, the insider directly owned 22,373 shares in the company, valued at $3,042,728. This trade represents a 11.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas E. Ferguson sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $127.29, for a total value of $3,182,250.00. Following the sale, the chief executive officer owned 158,182 shares of the company’s stock, valued at $20,134,986.78. This represents a 13.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,713 shares of company stock valued at $3,933,104 over the last 90 days. Insiders own 1.77% of the company’s stock.

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.