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

AZZ Inc. (NYSE:AZZ) announced 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) dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, July 9th. This is a 20.0% increase from AZZ’s previous quarterly dividend of $0.20.

AZZ has increased its dividend payment by an average of 0.0%per year over the last three years. AZZ has a dividend payout ratio of 12.4% indicating that its dividend is sufficiently covered by earnings. 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

Shares of NYSE AZZ opened at $160.41 on Friday. The stock has a market cap of $4.82 billion, a P/E ratio of 15.28 and a beta of 1.13. AZZ has a twelve month low of $90.47 and a twelve month high of $162.20. The stock has a 50 day moving average of $143.43 and a two-hundred day moving average of $130.41. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 0.36.

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

Institutional Trading of AZZ

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of AZZ by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 3,357,370 shares of the industrial products company’s stock worth $359,843,000 after acquiring an additional 80,099 shares during the period. Capital International Investors lifted its position in AZZ by 2.5% in the fourth quarter. Capital International Investors now owns 2,009,812 shares of the industrial products company’s stock valued at $215,412,000 after purchasing an additional 48,565 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in AZZ by 0.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,783,663 shares of the industrial products company’s stock valued at $191,174,000 after purchasing an additional 15,744 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in AZZ by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,182,140 shares of the industrial products company’s stock valued at $126,706,000 after purchasing an additional 49,509 shares in the last quarter. Finally, Morgan Stanley increased its position in AZZ by 7.1% during the 4th quarter. Morgan Stanley now owns 771,358 shares of the industrial products company’s stock worth $82,674,000 after purchasing an additional 51,463 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

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.