Fifth Third Bancorp Increases Stock Holdings in AZZ Inc. $AZZ

Fifth Third Bancorp boosted its holdings in AZZ Inc. (NYSE:AZZ) by 3,308.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,021 shares of the industrial products company’s stock after purchasing an additional 12,639 shares during the quarter. Fifth Third Bancorp’s holdings in AZZ were worth $1,629,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AZZ. Vanguard Group Inc. increased its stake in shares of AZZ by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 3,357,370 shares of the industrial products company’s stock valued at $359,843,000 after acquiring an additional 80,099 shares during the last quarter. Capital International Investors grew its holdings in AZZ by 2.5% in the fourth quarter. Capital International Investors now owns 2,009,812 shares of the industrial products company’s stock valued at $215,412,000 after purchasing an additional 48,565 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in AZZ by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,783,663 shares of the industrial products company’s stock worth $191,174,000 after purchasing an additional 15,744 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of AZZ by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,182,140 shares of the industrial products company’s stock valued at $126,706,000 after purchasing an additional 49,509 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of AZZ by 7.1% during the 4th quarter. Morgan Stanley now owns 771,358 shares of the industrial products company’s stock valued at $82,674,000 after buying an additional 51,463 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

AZZ Price Performance

AZZ opened at $153.21 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.92 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $146.34 and its 200 day moving average price is $136.15. 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 $4.60 billion, a price-to-earnings ratio of 23.36 and a beta of 1.11.

AZZ (NYSE:AZZ) last issued its quarterly earnings data on Wednesday, July 8th. The industrial products company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.05. AZZ had a return on equity of 14.18% and a net margin of 11.83%.The firm had revenue of $448.53 million during the quarter, compared to the consensus estimate of $434.58 million. During the same period in the prior year, the business earned $1.78 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. As a group, sell-side analysts expect that AZZ Inc. will post 6.94 earnings per share for the current year.

AZZ Increases Dividend

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

Analyst Ratings Changes

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