Copeland Capital Management LLC Invests $15.77 Million in AZZ Inc. $AZZ

Copeland Capital Management LLC purchased a new stake in AZZ Inc. (NYSE:AZZ) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 144,529 shares of the industrial products company’s stock, valued at approximately $15,772,000.

A number of other hedge funds also recently added to or reduced their stakes in AZZ. GAMMA Investing LLC grew its stake 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. Hsbc Holdings PLC grew its position in AZZ by 2.8% in the 1st quarter. Hsbc Holdings PLC now owns 4,220 shares of the industrial products company’s stock valued at $353,000 after buying an additional 113 shares during the last quarter. Teacher Retirement System of Texas increased its stake in AZZ by 3.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,311 shares of the industrial products company’s stock valued at $407,000 after buying an additional 161 shares during the period. Huntington National Bank raised its position in AZZ by 206.7% during the 2nd quarter. Huntington National Bank now owns 273 shares of the industrial products company’s stock worth $26,000 after buying an additional 184 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of AZZ by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 26,314 shares of the industrial products company’s stock worth $2,486,000 after acquiring an additional 190 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

AZZ Price Performance

Shares of NYSE:AZZ opened at $109.77 on Tuesday. The business’s 50 day simple moving average is $103.88 and its 200-day simple moving average is $105.90. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 10.55 and a beta of 1.13. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.73 and a quick ratio of 1.25. AZZ Inc. has a 12 month low of $70.90 and a 12 month high of $119.95.

AZZ (NYSE:AZZ) last issued its quarterly earnings data 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%. As a group, equities analysts forecast that AZZ Inc. will post 5.13 earnings per share for the current fiscal year.

AZZ Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.