Apogee Enterprises, Inc. (NASDAQ:APOG) to Issue Dividend Increase – $0.20 Per Share

Apogee Enterprises, Inc. (NASDAQ:APOG) announced a quarterly dividend on Wednesday, January 13th, Zacks reports. Shareholders of record on Monday, February 1st will be paid a dividend of 0.20 per share by the industrial products company on Tuesday, February 16th. This represents a $0.80 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Friday, January 29th. This is a boost from Apogee Enterprises’s previous quarterly dividend of $0.19.

Apogee Enterprises has raised its dividend by 33.9% over the last three years.

Apogee Enterprises stock opened at $37.01 on Thursday. The stock’s 50 day moving average price is $30.86 and its 200 day moving average price is $24.98. Apogee Enterprises has a 1-year low of $13.77 and a 1-year high of $37.83. The company has a market cap of $962.56 million, a PE ratio of 13.97 and a beta of 1.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.63 and a quick ratio of 1.28.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Thursday, December 17th. The industrial products company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.21. The company had revenue of $313.60 million during the quarter, compared to the consensus estimate of $330.84 million. Apogee Enterprises had a return on equity of 11.55% and a net margin of 5.54%. Apogee Enterprises’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 earnings per share. On average, equities research analysts anticipate that Apogee Enterprises will post 2.3 EPS for the current fiscal year.

In other Apogee Enterprises news, Director Bernard P. Aldrich sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 23rd. The shares were sold at an average price of $32.51, for a total value of $650,200.00. Following the transaction, the director now directly owns 15,652 shares in the company, valued at $508,846.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

APOG has been the subject of a number of research reports. ValuEngine lowered Apogee Enterprises from a “hold” rating to a “sell” rating in a research report on Monday, December 21st. DA Davidson boosted their price objective on shares of Apogee Enterprises from $20.00 to $25.00 in a research report on Friday, September 18th. TheStreet upgraded shares of Apogee Enterprises from a “c” rating to a “b-” rating in a research note on Thursday, October 22nd. BidaskClub raised shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 18th. Finally, Craig Hallum upped their price target on shares of Apogee Enterprises from $31.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, December 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. Apogee Enterprises has an average rating of “Buy” and a consensus price target of $25.50.

About Apogee Enterprises

Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. The company operates in 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; curtain wall; storefront; and entrance systems, such as the outside skin and entrances of commercial, institutional, and multi-family residential buildings.

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