Sterling Capital Management LLC Reduces Holdings in AZZ Inc. $AZZ

Sterling Capital Management LLC reduced its position in AZZ Inc. (NYSE:AZZ) by 42.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,584 shares of the industrial products company’s stock after selling 5,685 shares during the period. Sterling Capital Management LLC’s holdings in AZZ were worth $949,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Hantz Financial Services Inc. boosted its holdings in 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 last quarter. Osterweis Capital Management Inc. acquired a new position in shares of AZZ in the 2nd quarter valued at approximately $30,000. Kestra Advisory Services LLC purchased a new position in shares of AZZ during the 4th quarter valued at approximately $38,000. Clearstead Advisors LLC grew its position in shares of AZZ by 184.3% during the fourth quarter. Clearstead Advisors LLC now owns 361 shares of the industrial products company’s stock worth $39,000 after buying an additional 234 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of AZZ by 55.9% in the fourth quarter. Fifth Third Bancorp now owns 382 shares of the industrial products company’s stock worth $41,000 after buying an additional 137 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

AZZ Price Performance

AZZ opened at $155.47 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $144.61 and its 200 day moving average price is $131.43. AZZ Inc. has a fifty-two week low of $92.98 and a fifty-two week high of $162.20. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 14.81 and a beta of 1.13.

AZZ (NYSE:AZZ) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.15. The company had revenue of $385.10 million during the quarter, compared to the consensus estimate of $382.24 million. AZZ had a return on equity of 14.47% and a net margin of 19.23%.AZZ’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. AZZ has set its FY 2027 guidance at 6.500-7.000 EPS. As a group, sell-side analysts expect that AZZ Inc. will post 6.78 earnings per share for the current year.

AZZ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th will be given a $0.24 dividend. This is a boost from AZZ’s previous quarterly dividend of $0.20. This represents a $0.96 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, July 9th. AZZ’s dividend payout ratio is 7.62%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of AZZ from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. B. Riley Financial lifted their price target on AZZ from $167.00 to $169.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Weiss Ratings restated a “buy (b+)” rating on shares of AZZ in a research note on Wednesday, May 20th. Evercore reiterated an “outperform” rating and issued a $152.00 target price on shares of AZZ in a research report on Monday, April 27th. Finally, Robert W. Baird boosted their price target on AZZ from $125.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $152.00.

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.