Picton Mahoney Asset Management Buys 9,329 Shares of AZZ Inc. $AZZ

Picton Mahoney Asset Management grew its stake in AZZ Inc. (NYSE:AZZ) by 62,193.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,344 shares of the industrial products company’s stock after acquiring an additional 9,329 shares during the period. Picton Mahoney Asset Management’s holdings in AZZ were worth $1,020,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of AZZ. Principal Financial Group Inc. lifted its holdings in AZZ by 9.7% during 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 in the last quarter. AlphaQuest LLC acquired a new stake in shares of AZZ in the 3rd quarter valued at $1,032,000. Robeco Schweiz AG acquired a new stake in shares of AZZ in the 3rd quarter valued at $4,365,000. Assenagon Asset Management S.A. bought a new stake in shares of AZZ during the third quarter worth $1,671,000. Finally, Convergence Investment Partners LLC bought a new stake in shares of AZZ during the third quarter worth $1,000,000. 90.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AZZ has been the topic of several recent research reports. Wall Street Zen upgraded AZZ from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Robert W. Baird set a $125.00 target price on shares of AZZ in a research report on Friday, January 9th. Noble Financial reiterated an “outperform” rating on shares of AZZ in a research report on Tuesday, February 17th. Evercore reissued an “outperform” rating and set a $137.00 price target on shares of AZZ in a research note on Wednesday. Finally, Wells Fargo & Company lowered shares of AZZ from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $127.00 to $132.00 in a report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.00.

AZZ Trading Down 3.5%

NYSE AZZ opened at $124.50 on Friday. AZZ Inc. has a 12 month low of $70.90 and a 12 month high of $141.18. The stock has a 50-day simple moving average of $125.87 and a 200 day simple moving average of $113.57. The company has a current ratio of 1.66, a quick ratio of 1.21 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $3.72 billion, a PE ratio of 11.70 and a beta of 1.11.

AZZ (NYSE:AZZ) last issued its earnings results on Wednesday, January 7th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. The firm had revenue of $425.75 million for the quarter, compared to analysts’ expectations of $412.97 million. AZZ had a return on equity of 14.45% and a net margin of 19.89%.The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.39 earnings per share. AZZ has set its FY 2026 guidance at 5.900-6.200 EPS. Research analysts forecast that AZZ Inc. will post 5.13 EPS for the current year.

AZZ Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 5th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, February 5th. This represents a $0.80 dividend on an annualized basis and a yield of 0.6%. AZZ’s payout ratio is currently 7.52%.

AZZ announced that its board has approved a share buyback program on Friday, January 30th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at AZZ

In other AZZ news, insider Tara D. Mackey sold 2,923 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $136.00, for a total value of $397,528.00. Following the sale, the insider directly owned 22,373 shares in the company, valued at approximately $3,042,728. This trade represents a 11.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas E. Ferguson sold 25,000 shares of AZZ stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $127.29, for a total transaction of $3,182,250.00. Following the transaction, the chief executive officer directly owned 158,182 shares in the company, valued at approximately $20,134,986.78. This represents a 13.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 33,281 shares of company stock valued at $4,239,080 in the last ninety 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.