Assetmark Inc. Increases Stock Holdings in AZZ Inc. $AZZ

Assetmark Inc. lifted its stake in shares of AZZ Inc. (NYSE:AZZ) by 8,397.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 39,003 shares of the industrial products company’s stock after buying an additional 38,544 shares during the quarter. Assetmark Inc.’s holdings in AZZ were worth $4,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Hantz Financial Services Inc. grew its position in AZZ by 92.5% in the 4th quarter. Hantz Financial Services Inc. now owns 258 shares of the industrial products company’s stock valued at $28,000 after buying an additional 124 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in AZZ during the 2nd quarter worth $30,000. Kestra Advisory Services LLC acquired a new stake in shares of AZZ in the 4th quarter worth $38,000. Clearstead Advisors LLC lifted its stake in shares of AZZ by 184.3% in the 4th quarter. Clearstead Advisors LLC now owns 361 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 234 shares during the period. Finally, Fifth Third Bancorp boosted its holdings 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 valued at $41,000 after acquiring an additional 137 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

AZZ Stock Performance

AZZ opened at $150.34 on Wednesday. The stock has a market cap of $4.52 billion, a P/E ratio of 22.92 and a beta of 1.11. 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 stock’s 50 day simple moving average is $146.09 and its 200 day simple moving average is $135.54. AZZ Inc. has a 1-year low of $92.98 and a 1-year high of $162.20.

AZZ (NYSE:AZZ) last issued its quarterly earnings data on Wednesday, July 8th. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping 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%.AZZ’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. As a group, equities analysts anticipate that AZZ Inc. will post 6.94 EPS for the current fiscal year.

AZZ Increases Dividend

The firm 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 dividend of $0.24 per share. This is an increase from AZZ’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, July 9th. This represents a $0.96 annualized dividend and a yield of 0.6%. AZZ’s payout ratio is 14.63%.

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.