AZZ Inc. (AZZ) To Go Ex-Dividend on January 27th

AZZ Inc. (NYSE:AZZ – Get Rating) declared a quarterly dividend on Thursday, January 19th, Zacks reports. Stockholders of record on Monday, January 30th will be given a dividend of 0.17 per share by the industrial products company on Tuesday, February 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, January 27th.

AZZ has a dividend payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AZZ to earn $3.52 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 19.3%.

AZZ Price Performance

AZZ opened at $41.97 on Wednesday. The stock has a 50-day moving average price of $41.02 and a 200-day moving average price of $40.69. AZZ has a 12-month low of $30.21 and a 12-month high of $50.84. The company has a current ratio of 1.84, a quick ratio of 1.20 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $1.04 billion, a P/E ratio of -39.97 and a beta of 1.24.

AZZ (NYSE:AZZ – Get Rating) last posted its quarterly earnings data on Monday, January 9th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). The firm had revenue of $373.30 million during the quarter, compared to analysts’ expectations of $359.80 million. AZZ had a positive return on equity of 15.04% and a negative net margin of 2.46%. AZZ’s revenue for the quarter was up 176.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. Equities analysts predict that AZZ will post 4.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AZZ shares. StockNews.com upgraded AZZ from a “sell” rating to a “hold” rating in a report on Thursday, October 20th. Stifel Nicolaus cut AZZ from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a report on Friday, January 13th. Sidoti upgraded AZZ from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a report on Wednesday, October 12th. Finally, TheStreet lowered AZZ from a “b-” rating to a “c+” rating in a research report on Friday, October 14th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ExodusPoint Capital Management LP raised its position in shares of AZZ by 10.8% in the 2nd quarter. ExodusPoint Capital Management LP now owns 11,522 shares of the industrial products company’s stock worth $470,000 after acquiring an additional 1,121 shares in the last quarter. AQR Capital Management LLC raised its position in shares of AZZ by 32.4% in the 2nd quarter. AQR Capital Management LLC now owns 10,710 shares of the industrial products company’s stock worth $437,000 after acquiring an additional 2,618 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of AZZ by 44.4% in the 1st quarter. Hsbc Holdings PLC now owns 8,898 shares of the industrial products company’s stock worth $430,000 after acquiring an additional 2,736 shares in the last quarter. American Century Companies Inc. raised its position in shares of AZZ by 23.7% in the 1st quarter. American Century Companies Inc. now owns 8,563 shares of the industrial products company’s stock worth $413,000 after acquiring an additional 1,639 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of AZZ in the 1st quarter worth approximately $365,000. Institutional investors own 88.47% of the company’s stock.

AZZ Company Profile

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AZZ Inc offers galvanizing and metal coating solutions, welding solutions, specialty electrical equipment, and engineered services to the power generation, transmission, distribution, refining, and industrial markets in the United States and internationally. The company operates through two segments, Infrastructure Solutions and Metal Coatings.