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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
IRS number
750948250

AZZ stock data

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Calendar

9 Jul 21
31 Jul 21
28 Mar 22
Quarter (USD)
May 21 Feb 21 Nov 20 Aug 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Feb 21 Feb 20 Feb 19 Feb 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from AZZ earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 12.4M 12.4M 12.4M 12.4M 12.4M 12.4M
Cash burn (monthly) 811.33K 1.17M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 1.64M 2.36M n/a n/a n/a n/a
Cash remaining 10.77M 10.05M n/a n/a n/a n/a
Runway (months of cash) 13.3 8.6 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
22 Jul 21 Bacius Chris M. COMMON STOCK Payment of exercise Dispose F No No 52.09 73 3.8K 17,209
22 Jul 21 Bacius Chris M. COMMON STOCK Sale back to company Dispose D No No 52.09 2,424 126.27K 17,282
22 Jul 21 Bacius Chris M. COMMON STOCK Option exercise Aquire M No No 46.34 2,724 126.23K 19,706
22 Jul 21 Bacius Chris M. STOCK APPRECIATION RIGHTS COMMON STOCK Option exercise Dispose M No No 0 2,724 0 0
13 Jul 21 Purvis Steven R. COMMON STOCK Grant Aquire A No No 0 1,976 0 14,693
13 Jul 21 McGough Ed COMMON STOCK Grant Aquire A No No 0 1,976 0 11,137
13 Jul 21 McCellon-Allen Venita COMMON STOCK Grant Aquire A No No 0 1,976 0 17,778
13 Jul 21 Jackson Carol R COMMON STOCK Grant Aquire A No No 0 1,976 0 1,976

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

89.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 170 174 -2.3%
Opened positions 22 28 -21.4%
Closed positions 26 18 +44.4%
Increased positions 37 45 -17.8%
Reduced positions 76 70 +8.6%
13F shares
Current Prev Q Change
Total value 1.81B 1.11B +63.4%
Total shares 22.29M 23.31M -4.4%
Total puts 8.8K 0 NEW
Total calls 30.7K 60.9K -49.6%
Total put/call ratio 0.3
Largest owners
Shares Value Change
BLK Blackrock 4.06M $204.22M +2.5%
Vanguard 2.64M $132.77M +0.4%
TROW T. Rowe Price 2.6M $130.81M +0.0%
Dimensional Fund Advisors 1.17M $58.81M -6.7%
STT State Street 794.29K $39.99M -0.2%
Segall Bryant & Hamill 724.54K $36.48M +33.7%
FMR 550.37K $27.71M -28.8%
Wasatch Advisors 518.31K $26.1M +4.1%
Aristotle Capital Boston 499.21K $25.14M -5.7%
GBL Gamco Investors 482.53K $24.3M -12.2%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -297.8K EXIT
FMR 550.37K -222.23K -28.8%
Wellington Management 207.55K +207.55K NEW
LSV Asset Management 419.47K -184.7K -30.6%
Segall Bryant & Hamill 724.54K +182.78K +33.7%
Beacon Pointe Advisors 0 -141.33K EXIT
Kestrel Investment Management 113.35K +113.35K NEW
Engine Capital Management 0 -102.05K EXIT
BLK Blackrock 4.06M +100.69K +2.5%
Frontier Capital Management 226.95K -84.91K -27.2%

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.
  • Low oil and natural gas prices could depress or reduce demand or pricing for products or services in segments of our Infrastructure Solutions segment and, as a result, adversely affect our business.
  • 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 strategy against our performance, market conditions and competitive threats. During the third quarter of fiscal 2021, we publicly announced strategic and financial initiatives to enhance shareholder value. These initiatives include a comprehensive Board-led review of our portfolio and capital allocation and the engagement of leading independent financial, legal and tax advisors in support of this review. We have continued these initiatives in fiscal 2022. These actions will allow us to accelerate the strategy to become a more focused metal coatings company, which we believe will more rapidly enhance shareholder value.
  • The continued uncertainty associated with COVID-19 did not have a material adverse effect on our results of operations for the three months ended May 31, 2021. While we continue to support our customers, there remains uncertainties regarding the duration and, to what extent, if any, that the COVID-19 pandemic, or newly identified variants, will ultimately have on the demand for our products and services or with our supply chain. We continue to monitor the situation as information becomes readily available and continue to take actions to provide for the safety of our personnel, and to support the requirements under the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency ("CISA").
  • Our operations remain open globally and the impact to our personnel and operations has been limited by the effects of COVID-19. The most significant impact to us has been our ability to serve customers at their business locations. We have experienced limited customer order deferrals, but there have been few outright customer order cancellations. During the first
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