Convergence Investment Partners LLC Grows Stock Position in AZZ Inc. $AZZ

Convergence Investment Partners LLC lifted its stake in shares of AZZ Inc. (NYSE:AZZ) by 48.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,613 shares of the industrial products company’s stock after purchasing an additional 4,451 shares during the quarter. Convergence Investment Partners LLC’s holdings in AZZ were worth $1,459,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AZZ. Royal Bank of Canada raised its position in AZZ by 8.8% in the first quarter. Royal Bank of Canada now owns 12,619 shares of the industrial products company’s stock worth $1,055,000 after acquiring an additional 1,024 shares in the last quarter. AQR Capital Management LLC raised its position in AZZ by 26.2% in the first quarter. AQR Capital Management LLC now owns 6,213 shares of the industrial products company’s stock worth $519,000 after acquiring an additional 1,290 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in AZZ by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,488 shares of the industrial products company’s stock worth $1,462,000 after acquiring an additional 771 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in AZZ by 21.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 84,076 shares of the industrial products company’s stock worth $7,030,000 after acquiring an additional 14,965 shares in the last quarter. Finally, Jane Street Group LLC raised its position in AZZ by 185.9% in the first quarter. Jane Street Group LLC now owns 51,122 shares of the industrial products company’s stock worth $4,274,000 after acquiring an additional 33,238 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

AZZ Stock Down 4.2%

AZZ stock opened at $141.17 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.21 and a current ratio of 1.70. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 13.44 and a beta of 1.17. AZZ Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $151.67. The stock’s fifty day moving average is $133.20 and its two-hundred day moving average is $121.58.

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

AZZ Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 23rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $0.80 annualized dividend and a yield of 0.6%. AZZ’s dividend payout ratio is 7.62%.

AZZ announced that its board has authorized a stock buyback plan on Friday, January 30th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

AZZ has been the subject of several research analyst reports. Noble Financial reiterated an “outperform” rating on shares of AZZ in a research report on Tuesday, February 17th. Wells Fargo & Company cut AZZ from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $127.00 to $132.00 in a research report on Monday, March 2nd. B. Riley Financial increased their price objective on AZZ from $167.00 to $169.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Wall Street Zen upgraded AZZ from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Evercore reiterated an “outperform” rating and issued a $152.00 price objective on shares of AZZ in a research report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, AZZ currently has an average rating of “Moderate Buy” and a consensus target price of $141.80.

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.