AZZ Inc. Plans Quarterly Dividend of $0.17 (AZZ)
AZZ Inc. (NYSE:AZZ) declared a quarterly dividend on Tuesday, October 3rd, Wall Street Journal reports. Stockholders of record on Wednesday, October 18th will be paid a dividend of 0.17 per share by the industrial products company on Wednesday, November 1st. This represents a $0.68 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Tuesday, October 17th.
AZZ has raised its dividend by an average of 3.5% annually over the last three years and has increased its dividend every year for the last 3 years. AZZ has a dividend payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect AZZ to earn $2.79 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 24.4%.
AZZ (AZZ) traded down 4.28% during mid-day trading on Tuesday, hitting $48.05. The company had a trading volume of 357,745 shares. The company has a market capitalization of $1.25 billion, a P/E ratio of 23.66 and a beta of 1.52. AZZ has a 52-week low of $44.80 and a 52-week high of $67.70. The company has a 50-day moving average price of $48.81 and a 200 day moving average price of $53.60.
AZZ (NYSE:AZZ) last issued its quarterly earnings data on Tuesday, October 3rd. The industrial products company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.12). The firm had revenue of $190.40 million during the quarter, compared to analyst estimates of $193.70 million. AZZ had a net margin of 6.44% and a return on equity of 10.98%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. On average, analysts forecast that AZZ will post $2.20 EPS for the current fiscal year.
In related news, CFO Paul Wesley Fehlman purchased 1,500 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were bought at an average price of $49.31 per share, for a total transaction of $73,965.00. Following the acquisition, the chief financial officer now directly owns 9,287 shares in the company, valued at $457,941.97. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas E. Ferguson purchased 5,000 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were bought at an average price of $49.59 per share, for a total transaction of $247,950.00. Following the acquisition, the insider now owns 49,037 shares in the company, valued at $2,431,744.83. The disclosure for this purchase can be found here. 0.01% of the stock is owned by corporate insiders.
Several equities analysts have weighed in on AZZ shares. Zacks Investment Research downgraded AZZ from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 28th. Stifel Nicolaus cut their price target on shares of AZZ from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Friday, July 7th. BidaskClub cut shares of AZZ from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, TheStreet cut shares of AZZ from a “b” rating to a “c+” rating in a research report on Friday, July 7th.
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AZZ Company Profile
AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.
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