AZZ Inc. (NYSE:AZZ) declared a quarterly dividend on Tuesday, October 3rd, Wall Street Journal reports. Shareholders of record on Wednesday, October 18th will be given 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 increased its dividend payment by an average of 3.5% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. AZZ has a dividend payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect AZZ to earn $2.80 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 24.3%.

Shares of AZZ (NYSE AZZ) opened at 48.05 on Wednesday. The stock’s 50 day moving average price is $48.77 and its 200-day moving average price is $53.52. AZZ has a 12 month low of $44.80 and a 12 month high of $67.70. The firm has a market cap of $1.25 billion, a P/E ratio of 23.66 and a beta of 1.52.

AZZ (NYSE:AZZ) last announced its quarterly earnings data on Tuesday, October 3rd. The industrial products company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.12). The firm had revenue of $190.40 million for the quarter, compared to the consensus estimate of $193.70 million. AZZ had a return on equity of 10.98% and a net margin of 6.44%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share. Equities research analysts anticipate that AZZ will post $2.20 earnings per share for the current fiscal year.

In related news, insider Thomas E. Ferguson acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The stock was acquired at an average cost of $49.59 per share, with a total value of $247,950.00. Following the completion of the purchase, the insider now directly owns 49,037 shares in the company, valued at $2,431,744.83. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul Wesley Fehlman acquired 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were bought at an average cost of $49.31 per share, with a total value of $73,965.00. Following the completion of the purchase, the chief financial officer now owns 9,287 shares of the company’s stock, valued at $457,941.97. The disclosure for this purchase can be found here. 0.01% of the stock is owned by company insiders.

AZZ has been the subject of several analyst reports. Zacks Investment Research upgraded shares of AZZ from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Stifel Nicolaus cut their price objective on shares of AZZ from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Friday, July 7th. TheStreet lowered shares of AZZ from a “b” rating to a “c+” rating in a report on Friday, July 7th. Finally, BidaskClub cut shares of AZZ from a “hold” rating to a “sell” rating in a research note on Friday, July 28th.

TRADEMARK VIOLATION WARNING: This report was published by Watch List News and is the property of of Watch List News. If you are accessing this report on another publication, it was stolen and republished in violation of international copyright & trademark laws. The original version of this report can be viewed at https://www.watchlistnews.com/azz-inc-azz-to-issue-0-17-quarterly-dividend/1607215.html.

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.

Dividend History for AZZ (NYSE:AZZ)

Receive News & Ratings for AZZ Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AZZ Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.