AZZ (NYSE:AZZ) posted its earnings results on Tuesday. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.11, MarketWatch Earnings reports. AZZ had a net margin of 6.59% and a return on equity of 11.47%. The firm had revenue of $216.50 million during the quarter, compared to analysts’ expectations of $217.66 million. During the same period in the previous year, the business posted $0.49 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. AZZ updated its FY 2022 guidance to $2.900-$3.200 EPS and its FY22 guidance to $2.90-3.20 EPS.
NYSE:AZZ traded up $1.53 during trading hours on Tuesday, reaching $56.20. 2,256 shares of the company were exchanged, compared to its average volume of 125,779. The company has a current ratio of 2.55, a quick ratio of 1.79 and a debt-to-equity ratio of 0.29. The stock’s 50-day moving average is $52.84 and its 200-day moving average is $52.60. The firm has a market cap of $1.41 billion, a PE ratio of 26.47 and a beta of 1.53. AZZ has a twelve month low of $32.51 and a twelve month high of $57.85.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 2nd. Investors of record on Tuesday, October 19th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Monday, October 18th. AZZ’s dividend payout ratio is currently 32.23%.
A hedge fund recently raised its stake in AZZ stock. Morgan Stanley boosted its stake in shares of AZZ Inc. (NYSE:AZZ) by 109.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 147,147 shares of the industrial products company’s stock after acquiring an additional 76,759 shares during the period. Morgan Stanley owned about 0.59% of AZZ worth $7,620,000 at the end of the most recent quarter. 87.60% of the stock is owned by institutional investors and hedge funds.
AZZ Inc engages in the provision of galvanizing and metal coating solutions, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. It operates through the Metal Coatings and Infrastructure Solutions segments.
Further Reading: Understanding dividend yield and dividend payout ratio
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