The Manufacturers Life Insurance Company Invests $2.19 Million in AZZ Inc. $AZZ

The Manufacturers Life Insurance Company bought a new position in AZZ Inc. (NYSE:AZZ) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,096 shares of the industrial products company’s stock, valued at approximately $2,186,000.

A number of other large investors have also bought and sold shares of the business. Kilter Group LLC bought a new position in AZZ in the 2nd quarter valued at $33,000. Hantz Financial Services Inc. increased its stake in shares of AZZ by 92.5% in the fourth 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 in the last quarter. Osterweis Capital Management Inc. bought a new position in shares of AZZ in the second quarter valued at about $30,000. Kestra Advisory Services LLC acquired a new position in AZZ during the 4th quarter worth about $38,000. Finally, Clearstead Advisors LLC grew its holdings in AZZ by 184.3% during 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 last quarter. 90.93% of the stock is currently owned by institutional investors.

AZZ Stock Down 0.3%

NYSE:AZZ opened at $135.38 on Thursday. AZZ Inc. has a 1 year low of $92.98 and a 1 year high of $162.20. The stock has a 50-day moving average price of $147.43 and a two-hundred day moving average price of $140.52. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 20.64 and a beta of 1.11. The company has a current ratio of 1.92, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35.

AZZ (NYSE:AZZ) last posted its quarterly earnings data on Wednesday, July 8th. The industrial products company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.80 by $0.05. The business had revenue of $448.53 million for the quarter, compared to analysts’ expectations of $434.58 million. AZZ had a net margin of 11.83% and a return on equity of 14.18%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 EPS. AZZ has set its FY 2027 guidance at 6.750-7.150 EPS. As a group, equities analysts expect that AZZ Inc. will post 6.93 earnings per share for the current year.

AZZ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, July 9th. This is a positive change from AZZ’s previous quarterly dividend of $0.20. AZZ’s payout ratio is currently 14.63%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company boosted their target price 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. Weiss Ratings downgraded AZZ from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 9th. Wall Street Zen lowered AZZ from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, B. Riley Financial boosted their target price on AZZ from $169.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AZZ currently has an average rating of “Moderate Buy” and an average target price of $155.25.

Insider Activity

In related news, COO Jeffrey Vellines sold 4,220 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $153.55, for a total value of $647,981.00. Following the sale, the chief operating officer owned 1,834 shares in the company, valued at approximately $281,610.70. This represents a 69.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Bryan Lee Stovall sold 2,677 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $150.07, for a total value of $401,737.39. Following the sale, the chief operating officer directly owned 35,000 shares of the company’s stock, valued at $5,252,450. This represents a 7.11% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.70% of the company’s stock.

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.