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AZZ (AZZ)

AZZ Inc. is a global provider of metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services to the power generation, transmission, distribution and industrial markets. AZZ Metal Coatings is a leading provider of metal finishing solutions for corrosion protection, including hot dip galvanizing to the North American steel fabrication industry. AZZ Infrastructure Solutions is dedicated to delivering safe and reliable transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in the energy markets worldwide.

Company profile

Ticker
AZZ
Exchange
Website
CEO
Thomas Ferguson
Employees
Incorporated
Location
Fiscal year end
Former names
AZTEC MANUFACTURING CO
SEC CIK
Subsidiaries
AAA Galvanizing – Chelsea, LLC • AAA Galvanizing – Dixon, Inc. • AAA Galvanizing – Hamilton, LLC • AAA Galvanizing – Joliet, Inc. • AAA Galvanizing – Peoria, Inc. • AAA Galvanizing – Winsted, Inc. • Arbor-Crowley, LLC • Arizona Galvanizing, Inc. • ArkGalv, LLC • Atkinson Industries, Inc. ...
IRS number
750948250

AZZ stock data

Calendar

11 Jul 22
20 Aug 22
28 Feb 23
Quarter (USD) May 22 Feb 22 Nov 21 Aug 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Feb 22 Feb 21 Feb 20 Feb 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 Aug 22 Ferguson Thomas E COMMON STOCK Buy Acquire P No No 42.487 5,000 212.44K 170,550
12 Jul 22 Purvis Steven R. COMMON STOCK Grant Acquire A No No 0 2,619 0 17,312
12 Jul 22 McGough Ed COMMON STOCK Grant Acquire A No No 0 2,619 0 13,756
12 Jul 22 McCellon-Allen Venita COMMON STOCK Grant Acquire A No No 0 2,619 0 20,397
12 Jul 22 Jackson Carol R COMMON STOCK Grant Acquire A No No 0 2,619 0 4,595
88.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 176 190 -7.4%
Opened positions 18 24 -25.0%
Closed positions 32 19 +68.4%
Increased positions 68 63 +7.9%
Reduced positions 63 68 -7.4%
13F shares Current Prev Q Change
Total value 890.07M 1.05B -15.4%
Total shares 21.8M 21.83M -0.1%
Total puts 0 0
Total calls 5.5K 15.3K -64.1%
Total put/call ratio
Largest owners Shares Value Change
BLK Blackrock 3.99M $162.75M +0.5%
Vanguard 2.66M $108.38M +2.3%
TROW T. Rowe Price 2.48M $101.06M -0.0%
Dimensional Fund Advisors 1.26M $51.55M +1.6%
STT State Street 899.19K $36.71M +2.2%
Segall Bryant & Hamill 873.06K $35.64M +0.3%
WHG Westwood 821.01K $33.51M +1.0%
GBL Gamco Investors 616.54K $25.17M -0.7%
Aristotle Capital Boston 465.49K $19M +3.0%
AMP Ameriprise Financial 452.64K $18.48M -2.2%
Largest transactions Shares Bought/sold Change
Millennium Management 322.28K +217.78K +208.4%
Orchard Capital Managment 5.9K -150.52K -96.2%
Frontier Capital Management 100K -121.42K -54.8%
Wellington Management 240.74K +85.69K +55.3%
Cove Street Capital 195.56K -79.8K -29.0%
Cubist Systematic Strategies 78.49K +78.49K NEW
Loomis Sayles & Co L P 0 -76.32K EXIT
MS Morgan Stanley 201.08K +71.96K +55.7%
LGEN Legal & General 0 -70.17K EXIT
Parametric Portfolio Associates 0 -63.31K EXIT

Financial report summary

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Risks
  • The duration of the COVID-19 pandemic remains uncertain and may have a material adverse impact on the demand for our products and services or with our supply chain.
  • Catastrophic events could have a material adverse effect on our business, financial condition, results of operations, or cash flows.
  • Our business segments operate in highly competitive markets.
  • Our operating results may vary significantly from quarter to quarter.
  • Our business requires skilled labor, and we may be unable to attract and retain qualified employees.
  • Technological innovations by competitors may make existing products and production methods obsolete.
  • Our business segments are cyclical and are sensitive to economic downturns.
  • Volatility in crude oil and natural gas prices could impact demand or pricing for products or services in segments of our Infrastructure Solutions segment and, as a result, adversely affect our business.
  • International events and political issues may adversely affect our Infrastructure Solutions and Metal Coatings segments.
  • Fluctuations in the price and supply of raw materials and natural gas for our business segments may adversely affect our operations.
  • A failure in our operational information systems or cyber security attacks on any of our facilities, or those of third parties, may adversely affect our financial results.
  • If we are unable to adequately protect our intellectual property, we may lose some of our competitive advantage.
  • Product defects could increase our warranty costs and could result in product liability claims.
  • We may be unsuccessful at implementing and generating internal growth from our Strategic Growth Initiatives.
  • The departure of key personnel could disrupt our business.
  • Actual and potential claims, lawsuits, and proceedings could ultimately reduce our profitability and liquidity and negatively impact our financial condition.
  • Our operations could be adversely impacted by the effects of future changes to the law and government regulations regarding emissions, the global environment and other sustainability matters.
  • Regulations related to conflict minerals could adversely impact our business.
  • Changes in labor or employment laws, including minimum wage rules or COVID-19 benefits, could increase our costs and may adversely affect our business.
  • Climate change could impact our business.
  • Changes in environmental laws and regulations and heightened focus on corporate sustainability initiatives and practices are under increased scrutiny by both governmental and non-governmental bodies, which could cause a change in our business practices by increasing capital, compliance, operating and maintenance costs, which could impact our future operating results.
  • Our use of over time revenue accounting in the Infrastructure Solutions segment could result in a reduction or elimination of previously reported profits.
  • Our volume of fixed-price contracts for our Infrastructure Solutions segment could adversely affect our business.
  • The Company’s flexibility to operate its business could be impacted by provisions in its debt obligations.
  • We could face significant liabilities for withdrawal from Multiemployer Pension Plans.
  • A change in a customer’s creditworthiness could result in significant accounts receivable write-offs.
  • If our goodwill or other indefinite-lived intangible assets were to become impaired, our net income and results of operations could be negatively affected.
  • Changes in the method pursuant to which the LIBOR rates are determined and potential phasing out of LIBOR after 2021 may adversely affect our results of operations.
  • We may increase our debt or raise additional capital in the future, which could affect our financial condition, may decrease our profitability or could dilute our shareholders.
  • The market price and trading volume of our common stock may be volatile.
Management Discussion
  • We have a developed strategy and periodically review our performance, opportunities, market conditions and competitive threats. On May 13, 2022, the Company completed the acquisition of the Precoat Metals business division (“Precoat”) of Sequa Corporation (“Sequa”), a portfolio company of global investment firm Carlyle, for a purchase price of approximately $1.3 billion (the "Precoat Acquisition"). As part of the Precoat Acquisition, the Company acquired the Precoat Metals division from the Seller, which engages in the business of applying protective and decorative coatings and films for continuous steel and aluminum coil and performing ancillary services related thereto. The Precoat Acquisition advances our strategy to become a predominantly metal coatings focused company, which we believe will more rapidly enhance shareholder value. See Note 2 to our consolidated financial statements included in this Quarterly Report on Form 10-Q for more information about the Precoat Acquisition.

Content analysis

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Positive
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Uncertain
Constraining
Legalese
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Readability
H.S. junior Avg
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