State of Alaska Department of Revenue Grows Stock Holdings in AZZ Inc. $AZZ

State of Alaska Department of Revenue increased its stake in shares of AZZ Inc. (NYSE:AZZ) by 7.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,803 shares of the industrial products company’s stock after purchasing an additional 1,245 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of AZZ worth $1,681,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC raised its holdings in shares of AZZ by 110.0% during the first quarter. Signaturefd LLC now owns 399 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 209 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of AZZ by 39.6% during the second quarter. GAMMA Investing LLC now owns 374 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 106 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in AZZ by 1,121.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 977 shares of the industrial products company’s stock valued at $82,000 after buying an additional 897 shares during the period. Russell Investments Group Ltd. grew its position in AZZ by 140.1% during the first quarter. Russell Investments Group Ltd. now owns 1,095 shares of the industrial products company’s stock valued at $92,000 after buying an additional 639 shares during the period. Finally, CWM LLC grew its position in AZZ by 97.0% during the first quarter. CWM LLC now owns 1,389 shares of the industrial products company’s stock valued at $116,000 after buying an additional 684 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Bryan Lee Stovall sold 5,000 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $111.60, for a total transaction of $558,000.00. Following the completion of the transaction, the chief operating officer owned 22,709 shares in the company, valued at approximately $2,534,324.40. This represents a 18.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurt L. Russell sold 10,321 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $112.21, for a total transaction of $1,158,119.41. Following the transaction, the insider owned 16,804 shares of the company’s stock, valued at approximately $1,885,576.84. This represents a 38.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,837 shares of company stock worth $5,195,318. 1.77% of the stock is owned by insiders.

AZZ Stock Performance

AZZ opened at $108.43 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 1.10. The company has a 50 day simple moving average of $112.74 and a two-hundred day simple moving average of $98.56. AZZ Inc. has a 1-year low of $70.90 and a 1-year high of $119.95. The firm has a market cap of $3.25 billion, a P/E ratio of 12.56 and a beta of 1.30.

AZZ (NYSE:AZZ) last issued its earnings results on Wednesday, July 9th. The industrial products company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.19. AZZ had a net margin of 16.40% and a return on equity of 15.54%. The firm had revenue of $421.96 million during the quarter, compared to analyst estimates of $435.91 million. During the same quarter in the prior year, the business earned $1.46 earnings per share. AZZ’s revenue for the quarter was up 2.1% on a year-over-year basis. AZZ has set its FY 2026 guidance at 5.750-6.250 EPS. Equities analysts forecast that AZZ Inc. will post 5.13 earnings per share for the current fiscal year.

AZZ Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Thursday, October 16th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, October 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.7%. AZZ’s dividend payout ratio is currently 9.27%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AZZ shares. Wells Fargo & Company upgraded shares of AZZ to a “strong-buy” rating in a research report on Thursday, August 14th. Weiss Ratings restated a “buy (a-)” rating on shares of AZZ in a research report on Saturday, September 27th. B. Riley boosted their target price on shares of AZZ from $131.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Evercore ISI boosted their target price on shares of AZZ from $90.00 to $108.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Finally, Robert W. Baird boosted their target price on shares of AZZ from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, August 15th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, AZZ currently has an average rating of “Buy” and a consensus price target of $116.43.

AZZ Company Profile

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.