AZZ Inc. $AZZ Stock: Robeco Schweiz AG Decreases Holdings

Robeco Schweiz AG lowered its stake in shares of AZZ Inc. (NYSE:AZZ – Free Report) by 57.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,600 shares of the industrial products company’s stock after selling 62,475 shares during the quarter. Robeco Schweiz AG’s holdings in AZZ were worth $6,263,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AZZ. BlackRock Inc. purchased a new stake in AZZ during the 2nd quarter valued at approximately $719,876,000. SEB Asset Management AB acquired a new stake in AZZ during the 1st quarter worth approximately $45,297,000. Bank of New York Mellon Corp acquired a new stake in AZZ during the 2nd quarter worth approximately $35,818,000. Bank of America Corp DE purchased a new position in shares of AZZ in the 2nd quarter valued at approximately $32,505,000. Finally, Jupiter Topco LLC purchased a new position in shares of AZZ in the 2nd quarter valued at approximately $14,588,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Price Performance

Shares of AZZ opened at $132.40 on Friday. AZZ Inc. has a twelve month low of $94.61 and a twelve month high of $162.20. 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 capitalization of $3.96 billion, a PE ratio of 23.86 and a beta of 1.13. The company has a current ratio of 1.79, a quick ratio of 1.27 and a debt-to-equity ratio of 0.33.

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

AZZ Dividend Announcement

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

Insiders Place Their Bets

In other AZZ news, COO Bryan Lee Stovall sold 2,677 shares of the stock in a transaction 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 transaction, the chief operating officer owned 35,000 shares in the company, 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 SEC, which can be accessed through this link. Also, COO Jeffrey Vellines sold 4,220 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $153.55, for a total value of $647,981.00. Following the completion of the sale, the chief operating officer directly owned 1,834 shares of the company’s stock, valued at approximately $281,610.70. This trade represents a 69.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AZZ shares. Weiss Ratings reissued a “buy (b)” rating on shares of AZZ in a report on Tuesday, October 6th. Barclays increased their price target on AZZ from $140.00 to $145.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. B. Riley Financial increased their price target on AZZ from $170.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Robert W. Baird lowered their price objective on shares of AZZ from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Thursday, October 15th. Finally, Wells Fargo & Company boosted their price objective on shares of AZZ from $144.00 to $145.00 and gave the company an “equal weight” rating in a research note on Thursday, October 15th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $153.20.

View Our Latest Stock Report on AZZ

About AZZ

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AZZ (NYSE:AZZ)

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