Public Employees Retirement System of Ohio Takes $2.72 Million Position in AZZ Inc. $AZZ

Public Employees Retirement System of Ohio purchased a new position in shares of AZZ Inc. (NYSE:AZZ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,518 shares of the industrial products company’s stock, valued at approximately $2,716,000.

A number of other hedge funds have also recently added to or reduced their stakes in AZZ. Corient Private Wealth LP bought a new stake in shares of AZZ during the 2nd quarter valued at $626,000. Bank of America Corp DE bought a new position in AZZ in the 2nd quarter valued at about $32,505,000. Jupiter Topco LLC acquired a new position in shares of AZZ in the 2nd quarter valued at approximately $14,588,000. Hsbc Holdings PLC bought a new stake in shares of AZZ during the 2nd quarter worth approximately $1,564,000. Finally, PDT Partners LLC acquired a new stake in shares of AZZ during the 2nd quarter worth approximately $1,597,000. Institutional investors own 90.93% of the company’s stock.

AZZ Trading Up 2.1%

AZZ opened at $140.29 on Friday. The company has a market cap of $4.22 billion, a P/E ratio of 21.39 and a beta of 1.11. 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 company’s 50 day moving average is $146.63 and its 200-day moving average is $140.49. AZZ Inc. has a 1-year low of $92.98 and a 1-year high of $162.20.

AZZ (NYSE:AZZ) last issued its earnings results on Wednesday, July 8th. The industrial products company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.05. The firm had revenue of $448.53 million for 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%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $1.78 earnings per share. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. Equities research analysts predict that AZZ Inc. will post 6.93 earnings per share for the current fiscal year.

AZZ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 9th were issued a dividend of $0.24 per share. This is a positive change from AZZ’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.7%. AZZ’s dividend payout ratio (DPR) is 14.63%.

Insiders Place Their Bets

In related news, COO Bryan Lee Stovall sold 2,677 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $150.07, for a total transaction of $401,737.39. Following the sale, the chief operating officer owned 35,000 shares in the company, valued at $5,252,450. The trade was a 7.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey Vellines sold 4,220 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $153.55, for a total value of $647,981.00. Following the completion of the transaction, the chief operating officer directly owned 1,834 shares of the company’s stock, valued at approximately $281,610.70. The trade was a 69.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company boosted their price objective on shares of AZZ from $138.00 to $144.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Weiss Ratings downgraded AZZ from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 9th. B. Riley Financial lifted their price target on AZZ from $169.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Finally, Wall Street Zen cut AZZ from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.25.

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.