Tara Mackey, an insider at AZZ Inc. (NYSE: AZZ), sold 1,568 shares of the company’s stock on January 9, 2024. The shares were sold at an average price of $119.43, resulting in a total transaction value of $187,266.24. Following this sale, Mackey retains 28,086 shares, which are currently valued at approximately $3,354,310.98. This transaction represents a 5.29% reduction in Mackey’s ownership stake in AZZ.
The details of the sale were disclosed in a filing with the U.S. Securities and Exchange Commission (SEC). AZZ’s stock experienced a slight decline of 0.8% on the subsequent trading day, with shares dropping by $0.92 to reach $121.26. During this trading session, 191,738 shares exchanged hands, just below the average volume of 197,948 shares.
Stock Performance and Recent Earnings
AZZ Inc. has seen its stock performance fluctuate over the past year. The company recorded a 52-week low of $70.90 and a high of $122.95. The fifty-day moving average sits at $106.00, while the 200-day moving average is at $107.28. AZZ’s financial health demonstrates a current ratio of 1.66, a quick ratio of 1.21, and a debt-to-equity ratio of 0.41. The firm boasts a market capitalization of $3.62 billion and a price-to-earnings ratio of 11.40.
On January 7, 2024, AZZ announced its quarterly earnings, reporting $1.52 earnings per share (EPS), surpassing analysts’ expectations of $1.43 by $0.09. The company generated $425.75 million in revenue for the quarter, exceeding the consensus estimate of $412.97 million. This reflects a year-over-year revenue increase of 5.5%. AZZ has projected its fiscal year 2026 guidance at $5.900-$6.200 EPS.
Analyst Ratings and Institutional Activity
Recent evaluations from financial analysts indicate a generally positive outlook for AZZ. Robert W. Baird set a price target of $125.00, while Wells Fargo & Company reduced its target from $128.00 to $121.00 but maintains an “overweight” rating. B. Riley raised its target from $131.00 to $140.00, providing a “buy” rating for the stock. Overall, one analyst has rated AZZ as a Strong Buy, six have given it a Buy rating, and three analysts have issued a Hold rating. The consensus rating stands at “Moderate Buy” with an average price target of $117.17, according to MarketBeat.com.
Institutional investors have also shown interest in AZZ. Huntington National Bank increased its stake in the company by 206.7% during the second quarter, now holding 273 shares valued at $26,000. Other notable transactions include Osterweis Capital Management acquiring new shares valued at approximately $30,000 and BNP PARIBAS ASSET MANAGEMENT acquiring a stake valued at around $34,000. Institutional ownership of AZZ stands at 90.93%.
AZZ Inc., headquartered in Fort Worth, Texas, was incorporated in 1956 and is recognized as a leading provider of galvanizing and metal finishing solutions, alongside electrical equipment and services. The company serves various industries, including energy, infrastructure, and heavy equipment, by delivering corrosion protection and high-performance electrical solutions tailored to challenging environments.
As AZZ navigates the complexities of market dynamics and investor activity, its recent insider transactions and strong earnings performance highlight its ongoing commitment to growth and resilience in the industrial sector.
