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

AZZ Inc. (NYSE:AZZ) declared a quarterly dividend on Thursday, April 10th, RTT News reports. Stockholders of record on Thursday, April 24th will be given a dividend of 0.17 per share by the industrial products company on Thursday, May 15th. This represents a $0.68 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Thursday, April 24th.

AZZ has a dividend payout ratio of 10.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect AZZ to earn $5.81 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

AZZ opened at $77.55 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.77 and a debt-to-equity ratio of 0.85. AZZ has a twelve month low of $69.59 and a twelve month high of $99.49. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 52.40, a PEG ratio of 1.32 and a beta of 1.22. The firm has a 50-day moving average price of $87.22 and a 200-day moving average price of $86.35.

AZZ (NYSE:AZZ) last issued its quarterly earnings data on Monday, April 21st. The industrial products company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.95 by $0.03. The company had revenue of $351.88 million during the quarter, compared to analysts’ expectations of $367.78 million. AZZ had a net margin of 7.94% and a return on equity of 16.99%. Equities analysts expect that AZZ will post 5.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. B. Riley upped their target price on shares of AZZ from $99.00 to $111.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Roth Capital raised AZZ to a “strong-buy” rating in a report on Tuesday, February 11th. Noble Financial reiterated an “outperform” rating on shares of AZZ in a research report on Thursday, March 6th. Roth Mkm assumed coverage on AZZ in a research note on Tuesday, February 11th. They set a “buy” rating and a $108.00 price target for the company. Finally, Sidoti upgraded shares of AZZ from a “neutral” rating to a “buy” rating and set a $101.00 target price for the company in a research report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $100.71.

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.