Apogee Enterprises Inc (NASDAQ:APOG) Declares $0.19 Quarterly Dividend

Apogee Enterprises Inc (NASDAQ:APOG) announced a quarterly dividend on Thursday, June 25th, Zacks reports. Stockholders of record on Tuesday, July 14th will be given a dividend of 0.188 per share by the industrial products company on Wednesday, July 29th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, July 13th.

Apogee Enterprises has increased its dividend payment by an average of 233.3% per year over the last three years and has raised its dividend every year for the last 8 years. Apogee Enterprises has a dividend payout ratio of 31.5% meaning its dividend is sufficiently covered by earnings.

NASDAQ:APOG opened at $21.67 on Friday. The company’s 50 day moving average price is $21.32 and its 200-day moving average price is $26.46. Apogee Enterprises has a 52 week low of $13.77 and a 52 week high of $46.70. The company has a quick ratio of 1.12, a current ratio of 1.38 and a debt-to-equity ratio of 0.49. The stock has a market cap of $561.67 million, a price-to-earnings ratio of 9.69, a PEG ratio of 0.89 and a beta of 1.42.

Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings results on Thursday, April 2nd. The industrial products company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.16. Apogee Enterprises had a net margin of 4.46% and a return on equity of 12.60%. The firm had revenue of $337.10 million for the quarter, compared to analysts’ expectations of $329.49 million. During the same quarter in the prior year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Apogee Enterprises will post 2.21 earnings per share for the current year.

In related news, Director Lloyd Emerson Johnson bought 25,140 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The stock was bought at an average cost of $18.75 per share, with a total value of $471,375.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.50% of the company’s stock.

APOG has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research report on Tuesday, June 9th. Zacks Investment Research upgraded shares of Apogee Enterprises from a “sell” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a research report on Wednesday, June 3rd. DA Davidson decreased their price target on shares of Apogee Enterprises from $35.00 to $22.00 in a research report on Friday, April 3rd. Finally, Sidoti decreased their price target on shares of Apogee Enterprises from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $28.00.

Apogee Enterprises Company Profile

Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.

Further Reading: Neutral Rating

Dividend History for Apogee Enterprises (NASDAQ:APOG)

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