AZZ Inc. (NYSE:AZZ) Increases Dividend to $0.24 Per Share

AZZ Inc. (NYSE:AZZ) announced a quarterly dividend on Thursday, June 25th. Investors of record on Thursday, July 9th will be paid a dividend of 0.24 per share by the industrial products company on Thursday, July 30th. This represents a c) dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, July 9th. This is a 20.0% increase from AZZ’s previous quarterly dividend of $0.20.

AZZ has increased its dividend by an average of 0.0%annually over the last three years. AZZ has a payout ratio of 12.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect AZZ to earn $7.50 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 10.7%.

AZZ Stock Up 4.9%

AZZ stock opened at $160.41 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.70 and a quick ratio of 1.21. AZZ has a 1-year low of $90.47 and a 1-year high of $162.20. The company has a market cap of $4.82 billion, a PE ratio of 15.28 and a beta of 1.13. The stock’s 50 day moving average price is $143.43 and its 200 day moving average price is $130.41.

AZZ (NYSE:AZZ) last released its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.15. The firm had revenue of $385.10 million for the quarter, compared to the consensus estimate of $382.24 million. AZZ had a net margin of 19.23% and a return on equity of 14.47%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. AZZ has set its FY 2027 guidance at 6.500-7.000 EPS. On average, sell-side analysts predict that AZZ will post 6.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AZZ. Wall Street Zen upgraded shares of AZZ from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Evercore reissued an “outperform” rating and issued a $152.00 target price on shares of AZZ in a research report on Monday, April 27th. Robert W. Baird upped their price target on AZZ from $125.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Weiss Ratings reissued a “buy (b+)” rating on shares of AZZ in a research note on Wednesday, May 20th. Finally, B. Riley Financial upped their price target on AZZ from $167.00 to $169.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $152.00.

About AZZ

AZZ Inc, incorporated in 1956 and headquartered in Fort Worth, Texas, is a leading provider of galvanizing and metal finishing solutions alongside electrical equipment and services. The company supports a diverse range of industries—such as energy, infrastructure, heavy equipment and general industrial markets—by delivering corrosion protection and high-performance electrical solutions designed for demanding environments.

AZZ operates two primary business segments. The Global Coatings & Services segment offers hot-dip galvanizing, metal finishing, painting, powder coating and related value-added services to steel fabricators and original equipment manufacturers.