SEB Asset Management AB Buys New Position in AZZ Inc. $AZZ

SEB Asset Management AB bought a new position in shares of AZZ Inc. (NYSE:AZZ) during the first quarter, HoldingsChannel reports. The institutional investor bought 362,003 shares of the industrial products company’s stock, valued at approximately $45,297,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AZZ. Wedge Capital Management L L P NC bought a new stake in shares of AZZ in the 4th quarter worth approximately $2,120,000. Aberdeen Group plc acquired a new position in AZZ in the fourth quarter worth approximately $18,429,000. Vanguard Group Inc. increased its holdings in shares of AZZ by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 3,357,370 shares of the industrial products company’s stock valued at $359,843,000 after buying an additional 80,099 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of AZZ by 7.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 163,954 shares of the industrial products company’s stock valued at $17,892,000 after acquiring an additional 11,405 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of AZZ by 78.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 232,510 shares of the industrial products company’s stock valued at $24,920,000 after acquiring an additional 102,133 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AZZ has been the topic of a number of recent analyst reports. Robert W. Baird boosted their target price on AZZ from $125.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Wall Street Zen lowered shares of AZZ from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. B. Riley Financial lifted their target price on shares of AZZ from $169.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Weiss Ratings downgraded shares of AZZ from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 9th. Finally, 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 note on Friday, July 10th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.25.

AZZ Price Performance

Shares of AZZ opened at $147.08 on Friday. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 22.42 and a beta of 1.11. AZZ Inc. has a fifty-two week low of $92.98 and a fifty-two week high of $162.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.92 and a quick ratio of 1.39. The business’s 50-day moving average is $146.08 and its 200-day moving average is $134.79.

AZZ (NYSE:AZZ) last announced its quarterly earnings data on Wednesday, July 8th. The industrial products company reported $1.85 EPS 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 the consensus estimate of $434.58 million. AZZ had a net margin of 11.83% and a return on equity of 14.18%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. Equities research analysts expect that AZZ Inc. will post 6.94 EPS for the current fiscal year.

AZZ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, July 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from AZZ’s previous quarterly dividend of $0.20. AZZ’s payout ratio is 14.63%.

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.