Bank of New York Mellon Corp Has $27.77 Million Position in AZZ Inc. $AZZ

Bank of New York Mellon Corp lessened its holdings in AZZ Inc. (NYSE:AZZ) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 221,887 shares of the industrial products company’s stock after selling 4,337 shares during the period. Bank of New York Mellon Corp owned 0.74% of AZZ worth $27,765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Hantz Financial Services Inc. raised its position in shares of AZZ by 92.5% in the fourth quarter. Hantz Financial Services Inc. now owns 258 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 124 shares during the period. Osterweis Capital Management Inc. bought a new stake in shares of AZZ during the 2nd quarter worth about $30,000. Kestra Advisory Services LLC acquired a new position in AZZ in the 4th quarter valued at about $38,000. Clearstead Advisors LLC grew its stake in AZZ by 184.3% in the 4th quarter. Clearstead Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $39,000 after buying an additional 234 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in AZZ by 55.9% in the 4th quarter. Fifth Third Bancorp now owns 382 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

AZZ Trading Down 0.9%

Shares of NYSE:AZZ opened at $148.54 on Tuesday. The business’s 50 day simple moving average is $146.69 and its 200 day simple moving average is $136.69. AZZ Inc. has a 1 year low of $92.98 and a 1 year 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 company has a market capitalization of $4.46 billion, a P/E ratio of 22.64 and a beta of 1.11.

AZZ (NYSE:AZZ) last announced its quarterly earnings data 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. The firm had revenue of $448.53 million during the quarter, compared to analysts’ expectations of $434.58 million. AZZ had a return on equity of 14.18% and a net margin of 11.83%.The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.78 EPS. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. On average, research analysts anticipate that AZZ Inc. will post 6.94 EPS for the current fiscal year.

AZZ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $0.96 annualized dividend and a yield of 0.6%. This is an increase from AZZ’s previous quarterly dividend of $0.20. AZZ’s payout ratio is 14.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AZZ shares. Evercore restated an “outperform” rating and set a $152.00 price objective on shares of AZZ in a report on Monday, April 27th. Robert W. Baird increased their target price on AZZ from $125.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. B. Riley Financial boosted their price target on AZZ from $169.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Wells Fargo & Company upped their price objective on AZZ from $138.00 to $144.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Finally, Wall Street Zen cut AZZ from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, AZZ presently has a consensus rating of “Moderate Buy” and an average target price of $155.25.

AZZ 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.