AZZ Inc. (NYSE:AZZ) Declares $0.17 Quarterly Dividend

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

AZZ has a dividend payout ratio of 10.7% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

NYSE:AZZ traded up $0.60 during trading hours on Thursday, hitting $87.30. The company’s stock had a trading volume of 111,759 shares, 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. The company has a market capitalization of $2.61 billion, a P/E ratio of 58.99, a PEG ratio of 1.19 and a beta of 1.30. AZZ has a twelve month low of $56.87 and a twelve month high of $97.98. The stock has a fifty day simple moving average of $87.61 and a 200-day simple moving average of $82.07.

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

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lifted their price target on shares of AZZ from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.80.

About AZZ

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.