AZZ AZZ INC

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 4/4 quarters. Q3 2023: $8M, Q2 2023: $15M, Q1 2023: $6M, Q3 2022: $25M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $8M vs trailing avg $15M (-50%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-108M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 301,416 shares = 2.0% of 29,913,000 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

No insider open-market purchases in the last 12 months

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Need both buyback and insider purchase data

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $4M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 9901319.9x more than bought. 4 C-suite officers among sellers

• Mackey Tara D (Chief Legal Officer) sold 2,923 shares on 2026-02-11
• FERGUSON THOMAS E (President and CEO) sold 25,000 shares on 2026-02-03
• Mackey Tara D (Chief Legal Officer) sold 2,790 shares on 2026-01-21
• Mackey Tara D (Chief Legal Officer) sold 1,000 shares on 2026-01-08
• Mackey Tara D (Chief Legal Officer) sold 1,568 shares on 2026-01-09
• Russell Kurt L. (Chief Strategy Officer) sold 10,321 shares on 2025-08-12
• Stovall Bryan Lee (COO - Metal Coatings) sold 773 shares on 2025-08-11
• Stovall Bryan Lee (COO - Metal Coatings) sold 400 shares on 2025-08-11
• Stovall Bryan Lee (COO - Metal Coatings) sold 3,827 shares on 2025-08-11
• FERGUSON THOMAS E (President and CEO) sold 26,516 shares on 2025-07-22