Copeland Capital Management LLC Takes $15.77 Million Position in AZZ Inc. $AZZ

Copeland Capital Management LLC bought a new position in shares of AZZ Inc. (NYSE:AZZ) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 144,529 shares of the industrial products company’s stock, valued at approximately $15,772,000. Copeland Capital Management LLC owned approximately 0.48% of AZZ as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Huntington National Bank boosted its stake in shares of AZZ by 206.7% in the 2nd quarter. Huntington National Bank now owns 273 shares of the industrial products company’s stock valued at $26,000 after buying an additional 184 shares during the period. Osterweis Capital Management Inc. purchased a new position in AZZ in the second quarter worth approximately $30,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in AZZ during the 2nd quarter worth approximately $34,000. GAMMA Investing LLC increased its position in shares of AZZ by 39.6% in the 2nd 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. Finally, EverSource Wealth Advisors LLC increased its position in shares of AZZ by 1,145.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 934 shares of the industrial products company’s stock valued at $88,000 after purchasing an additional 859 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Stock Performance

Shares of AZZ stock opened at $109.77 on Tuesday. The stock’s 50-day moving average is $103.88 and its two-hundred day moving average is $105.90. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.73. 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 $3.30 billion, a price-to-earnings ratio of 10.55 and a beta of 1.13.

AZZ (NYSE:AZZ) last announced its earnings results on Tuesday, May 9th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter. The firm had revenue of $129.87 million during the quarter. AZZ had a return on equity of 15.01% and a net margin of 19.69%. Analysts predict that AZZ Inc. will post 5.13 earnings per share for the current year.

AZZ Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, October 16th. AZZ’s payout ratio is presently 7.69%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AZZ. Wells Fargo & Company decreased their price objective on shares of AZZ from $128.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AZZ in a report on Monday, December 22nd. B. Riley increased their price objective on AZZ from $131.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Finally, Wall Street Zen lowered AZZ from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $116.33.

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.