Apogee Enterprises (NASDAQ:APOG) announced that its board has approved a share repurchase plan, which authorizes the company to buyback 1,000,000 outstanding shares on Tuesday, January 9th, EventVestor reports. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Apogee Enterprises (NASDAQ APOG) traded down $0.44 during midday trading on Thursday, reaching $45.56. The company had a trading volume of 537,600 shares, compared to its average volume of 316,029. Apogee Enterprises has a 1 year low of $40.03 and a 1 year high of $61.00. The stock has a market capitalization of $1,310.00, a P/E ratio of 16.39, a PEG ratio of 1.50 and a beta of 1.62. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.79 and a quick ratio of 1.34.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Thursday, December 21st. The industrial products company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.14). Apogee Enterprises had a return on equity of 17.99% and a net margin of 6.24%. The business had revenue of $356.50 million for the quarter, compared to analysts’ expectations of $373.35 million. During the same quarter last year, the company posted $0.78 earnings per share. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. sell-side analysts predict that Apogee Enterprises will post 3.05 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Monday, January 29th. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.14. This represents a $0.63 annualized dividend and a yield of 1.38%. Apogee Enterprises’s dividend payout ratio is 20.14%.

APOG has been the topic of a number of analyst reports. BidaskClub raised Apogee Enterprises from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Zacks Investment Research raised Apogee Enterprises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 21st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $63.33.

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Apogee Enterprises Company Profile

Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.

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