AZZ Inc. (AZZ) to Issue Quarterly Dividend of $0.17 on November 1st
AZZ Inc. (NYSE:AZZ) announced a quarterly dividend on Friday, September 30th. Stockholders of record on Tuesday, October 18th will be given a dividend of 0.17 per share on Tuesday, November 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, October 14th. This is a boost from AZZ’s previous quarterly dividend of $0.15.
Shares of AZZ (NYSE:AZZ) opened at 54.70 on Thursday. The stock has a 50 day moving average of $63.62 and a 200-day moving average of $60.31. The stock has a market capitalization of $1.42 billion, a P/E ratio of 20.19 and a beta of 1.34. AZZ has a 52-week low of $47.04 and a 52-week high of $67.98.
AZZ (NYSE:AZZ) last posted its earnings results on Wednesday, October 5th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by $0.17. AZZ had a net margin of 7.88% and a return on equity of 15.84%. The business earned $195 million during the quarter, compared to analysts’ expectations of $225.43 million. During the same period last year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. Analysts predict that AZZ will post $3.31 EPS for the current fiscal year.
A number of analysts recently issued reports on the company. Zacks Investment Research downgraded AZZ from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. DA Davidson reiterated a “hold” rating and set a $55.00 target price on shares of AZZ in a research report on Wednesday, July 6th.
In other news, SVP Timothy E. Pendley sold 1,200 shares of the firm’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $62.02, for a total transaction of $74,424.00. Following the transaction, the senior vice president now owns 30,980 shares in the company, valued at $1,921,379.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wallace P. Eisman purchased 1,000 shares of the business’s stock in a transaction dated Friday, July 15th. The shares were purchased at an average price of $62.27 per share, for a total transaction of $62,270.00. Following the purchase, the director now owns 4,641 shares of the company’s stock, valued at approximately $288,995.07. The disclosure for this purchase can be found here. Insiders own 0.01% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. TFS Capital LLC raised its position in shares of AZZ by 7.6% in the second quarter. TFS Capital LLC now owns 28,169 shares of the company’s stock valued at $1,690,000 after buying an additional 1,999 shares in the last quarter. United Services Automobile Association raised its position in shares of AZZ by 2.9% in the second quarter. United Services Automobile Association now owns 7,190 shares of the company’s stock valued at $431,000 after buying an additional 200 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of AZZ by 2.8% in the second quarter. Public Sector Pension Investment Board now owns 18,325 shares of the company’s stock valued at $1,099,000 after buying an additional 500 shares in the last quarter. AXA raised its position in shares of AZZ by 8.3% in the second quarter. AXA now owns 67,600 shares of the company’s stock valued at $4,055,000 after buying an additional 5,200 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of AZZ by 6.5% in the second quarter. Alliancebernstein L.P. now owns 39,445 shares of the company’s stock valued at $2,366,000 after buying an additional 2,400 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.
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.
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