VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.29 Million in AZZ Inc. $AZZ

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of AZZ Inc. (NYSE:AZZ) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,800 shares of the industrial products company’s stock, valued at approximately $2,295,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lido Advisors LLC boosted its stake in AZZ by 3.0% in the 4th quarter. Lido Advisors LLC now owns 2,633 shares of the industrial products company’s stock worth $286,000 after purchasing an additional 77 shares in the last quarter. Contravisory Investment Management Inc. increased its stake in AZZ by 3.7% during the 2nd quarter. Contravisory Investment Management Inc. now owns 2,723 shares of the industrial products company’s stock valued at $422,000 after purchasing an additional 97 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of AZZ by 1.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,882 shares of the industrial products company’s stock worth $738,000 after buying an additional 100 shares during the last quarter. LPL Financial LLC raised its holdings in shares of AZZ by 1.0% in the fourth quarter. LPL Financial LLC now owns 10,593 shares of the industrial products company’s stock worth $1,135,000 after buying an additional 101 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of AZZ by 92.5% during the fourth quarter. Hantz Financial Services Inc. now owns 258 shares of the industrial products company’s stock worth $28,000 after buying an additional 124 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

AZZ Trading Down 1.5%

AZZ stock opened at $136.25 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. AZZ Inc. has a 12 month low of $92.98 and a 12 month high of $162.20. The stock’s 50 day simple moving average is $145.58 and its two-hundred day simple moving average is $140.59. The firm has a market cap of $4.09 billion, a PE ratio of 20.77 and a beta of 1.11.

AZZ (NYSE:AZZ) last posted its earnings results on Wednesday, July 8th. The industrial products company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.05. AZZ had a net margin of 11.83% and a return on equity of 14.18%. The firm had revenue of $448.53 million during the quarter, compared to analyst estimates of $434.58 million. During the same period in the previous year, the firm earned $1.78 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. Analysts anticipate that AZZ Inc. will post 6.93 earnings per share for the current year.

AZZ Increases Dividend

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

Insiders Place Their Bets

In other AZZ news, COO Jeffrey Vellines sold 4,220 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer owned 1,834 shares in the company, valued at approximately $281,610.70. This represents a 69.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Bryan Lee Stovall sold 2,677 shares of the stock in a transaction dated 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 directly owned 35,000 shares in the company, valued at approximately $5,252,450. The trade was a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in 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 report on Friday, July 10th. Weiss Ratings cut AZZ from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 9th. Wall Street Zen downgraded AZZ from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, B. Riley Financial raised their price objective on AZZ from $169.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.25.

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.