AZZ said on April 6, 2023 that its board of directors declared a regular quarterly dividend of $0.17 per share ($0.68 annualized). Previously, the company paid $0.17 per share.
Shares must be purchased before the ex-div date of April 25, 2023 to qualify for the dividend. Shareholders of record as of April 26, 2023 will receive the payment on May 17, 2023.
At the current share price of $38.28 / share, the stock's dividend yield is 1.78%. Looking back five years and taking a sample every week, the average dividend yield has been 1.58%, the lowest has been 1.20%, and the highest has been 2.74%. The standard deviation of yields is 0.30 (n=235).
The current dividend yield is 0.65 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -0.52. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 476 funds or institutions reporting positions in AZZ.
This is an increase
of
2
owner(s) or 0.42% in the last quarter.
Average portfolio weight of all funds dedicated to AZZ is 0.12%,
a decrease
of 3.33%.
Total shares owned by institutions increased
in the last three months by 0.11% to 25,784K shares.
The put/call ratio of AZZ is 1.51, indicating a
bearish
outlook.
Analyst Price Forecast Suggests 45.66% Upside
As of April 6, 2023, the average one-year price target for AZZ is $55.76. The forecasts range from a low of $48.48 to a high of $63.00. The average price target represents an increase of 45.66% from its latest reported closing price of $38.28.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for AZZ is $1,573MM, an increase of 5.28%. The projected annual non-GAAP EPS is $4.14.
What are Other Shareholders Doing?
Royce & Associates holds 20K shares representing 0.08% ownership of the company. No change in the last quarter.
ClariVest Asset Management holds 0K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 48.48%. The firm increased its portfolio allocation in AZZ by 0.02% over the last quarter.
MXLSX - Great-West Loomis Sayles Small Cap Value Fund Investor Class holds 14K shares representing 0.05% ownership of the company. No change in the last quarter.
Brighthouse Funds Trust I - JPMorgan Small Cap Value Portfolio holds 10K shares representing 0.04% ownership of the company. In it's prior filing, the firm reported owning 10K shares, representing a decrease of 3.16%. The firm decreased its portfolio allocation in AZZ by 6.09% over the last quarter.
Mutual of America Variable Insurance Portfolios, Inc. - Small Cap Equity Index Portfolio Class holds 0K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 4.59%. The firm increased its portfolio allocation in AZZ by 2.45% over the last quarter.
AZZ Background Information
(This description is provided by the company.)
AZZ Inc. is a global provider of metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services to the power generation, transmission, distribution and industrial markets. AZZ Metal Coatings is a leading provider of metal finishing solutions for corrosion protection, including hot dip galvanizing to the North American steel fabrication industry. AZZ Infrastructure Solutions is dedicated to delivering safe and reliable transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in the energy markets worldwide.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
