Ritholtz Wealth Management Purchases 6,651 Shares of AZZ Inc. $AZZ

Ritholtz Wealth Management raised its position in AZZ Inc. (NYSE:AZZ) by 188.4% during the fourth quarter, Holdings Channel reports. The fund owned 10,181 shares of the industrial products company’s stock after acquiring an additional 6,651 shares during the period. Ritholtz Wealth Management’s holdings in AZZ were worth $1,091,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of AZZ. Royal Bank of Canada lifted its holdings 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 valued at $1,055,000 after acquiring an additional 1,024 shares during the period. AQR Capital Management LLC lifted its holdings 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 valued at $519,000 after acquiring an additional 1,290 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 valued at $1,462,000 after acquiring an additional 771 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 valued at $7,030,000 after acquiring an additional 14,965 shares during the period. 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 during the period. Institutional investors own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Robert W. Baird set a $125.00 price target on shares of AZZ in a research report on Friday, January 9th. Wall Street Zen upgraded shares of AZZ from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Evercore reiterated an “outperform” rating and issued a $137.00 price target on shares of AZZ in a research report on Wednesday, March 4th. Noble Financial reiterated an “outperform” rating on shares of AZZ in a research report on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of AZZ in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.00.

Insider Buying and Selling at AZZ

In other news, CEO Thomas E. Ferguson sold 25,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $127.29, for a total transaction of $3,182,250.00. Following the sale, the chief executive officer directly owned 158,182 shares in the company, valued at $20,134,986.78. This trade represents a 13.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tara D. Mackey sold 2,923 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $136.00, for a total transaction of $397,528.00. Following the sale, the insider owned 22,373 shares in the company, valued at $3,042,728. The trade was a 11.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,713 shares of company stock worth $3,933,104 over the last 90 days. Insiders own 1.77% of the company’s stock.

AZZ Stock Down 0.5%

NYSE AZZ opened at $138.69 on Wednesday. The stock’s 50-day moving average price is $129.97 and its 200-day moving average price is $115.92. The company has a quick ratio of 1.21, a current ratio of 1.66 and a debt-to-equity ratio of 0.41. AZZ Inc. has a 52 week low of $74.00 and a 52 week high of $141.18. The company has a market capitalization of $4.14 billion, a P/E ratio of 13.03 and a beta of 1.15.

AZZ Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 23rd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, April 23rd. AZZ’s dividend payout ratio (DPR) is presently 7.52%.

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

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.