AZZ Inc. (NYSE:AZZ) Announces Dividend Increase – $0.24 Per Share

AZZ Inc. (NYSE:AZZ) declared a quarterly dividend on Thursday, June 25th. Shareholders 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) annualized dividend 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%per year over the last three years. AZZ has a dividend payout ratio of 12.4% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

NYSE AZZ opened at $160.41 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.21 and a current ratio of 1.70. The company has a market cap of $4.82 billion, a PE ratio of 15.28 and a beta of 1.13. The firm’s 50 day moving average price is $143.43 and its 200-day moving average price is $130.41. AZZ has a 52-week low of $90.47 and a 52-week high of $162.20.

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

Analysts Set New Price Targets

Several research firms have issued reports on AZZ. Wall Street Zen raised shares of AZZ from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Robert W. Baird raised their price target on shares of AZZ from $125.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Weiss Ratings reiterated a “buy (b+)” rating on shares of AZZ in a research note on Wednesday, May 20th. Evercore reiterated an “outperform” rating and issued a $152.00 target price on shares of AZZ in a research note on Monday, April 27th. Finally, Wells Fargo & Company cut AZZ from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $127.00 to $132.00 in a report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, AZZ currently 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.