AZZ Inc. (NYSE:AZZ) Plans Quarterly Dividend of $0.24

AZZ Inc. (NYSE:AZZ) announced a quarterly dividend on Thursday, October 8th. Shareholders of record on Monday, October 19th will be paid a dividend of $0.24 per share by the industrial products company on Thursday, November 5th. This represents a $0.96 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, October 19th.

AZZ has raised its dividend by an average of 0.0%per year over the last three years. AZZ has a payout ratio of 14.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AZZ to earn $7.63 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 12.6%.

AZZ Stock Performance

Shares of NYSE:AZZ opened at $136.65 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.92 and a quick ratio of 1.39. The business’s 50 day moving average price is $140.87 and its 200-day moving average price is $141.72. The firm has a market capitalization of $4.11 billion, a PE ratio of 20.83 and a beta of 1.13. AZZ has a 1 year low of $92.98 and a 1 year high of $162.20.

AZZ (NYSE:AZZ) last released its quarterly earnings data on Wednesday, July 8th. The industrial products company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.05. AZZ had a return on equity of 14.18% and a net margin of 11.83%.The firm had revenue of $448.53 million for the quarter, compared to analysts’ expectations of $434.58 million. During the same period in the prior year, the firm posted $1.78 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts expect that AZZ will post 7.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on AZZ. Wells Fargo & Company boosted their price target 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. B. Riley Financial lifted their price objective on shares of AZZ from $169.00 to $170.00 and gave the company a “buy” rating in a report on Monday, July 13th. Weiss Ratings restated a “buy (b)” rating on shares of AZZ in a report on Tuesday. Finally, Wall Street Zen downgraded shares of AZZ from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.25.

About AZZ

AZZ Inc is a provider of metal coating solutions serving customers primarily in North America. The company operates through its Metal Coatings and Precoat Metals segments, helping protect and enhance the performance, appearance, and durability of steel and other metal products used across a range of industries.

Through its Metal Coatings segment, AZZ provides hot-dip galvanizing, powder coating, anodizing, plating, and related coating services. These treatments are used for corrosion protection and finishing applications involving infrastructure, construction, industrial, transportation, and other metal products.

Precoat Metals provides coil coating services for steel and aluminum products before they are fabricated.