AZZ Inc. Announces Quarterly Dividend of $0.17 (NYSE:AZZ)

AZZ Inc. (NYSE:AZZ) declared a quarterly dividend on Thursday, January 16th,RTT News reports. Shareholders of record on Thursday, January 30th will be given a dividend of 0.17 per share by the industrial products company on Thursday, February 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.78%.

AZZ has a payout ratio of 10.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AZZ to earn $5.83 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 11.7%.

AZZ Stock Up 0.7 %

Shares of NYSE:AZZ traded up $0.60 during midday trading on Thursday, hitting $87.30. 111,759 shares of the company’s stock were exchanged, compared to its average volume of 205,626. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.77 and a quick ratio of 1.32. AZZ has a 12 month low of $56.87 and a 12 month high of $97.98. The company has a market cap of $2.61 billion, a PE ratio of 58.99, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30. The stock has a 50 day moving average price of $87.61 and a 200-day moving average price of $82.07.

AZZ (NYSE:AZZ) last issued its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.29 by $0.10. The firm had revenue of $403.65 million during the quarter, compared to the consensus estimate of $394.30 million. AZZ had a return on equity of 16.99% and a net margin of 7.94%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 earnings per share. On average, sell-side analysts anticipate that AZZ will post 5.13 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Jefferies Financial Group upped their target price on shares of AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.80.

AZZ Company Profile

AZZ Inc provides hot-dip galvanizing and coil coating solutions in North America. It offers metal finishing solutions for corrosion protection, including hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating to steel fabrication and other industries, as well as to fabricators or manufacturers that provide services to the transmission and distribution, bridge and highway, petrochemical, and general industrial markets; and original equipment manufacturers.