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

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

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

Shares of APOG stock opened at $37.01 on Thursday. Apogee Enterprises has a 52-week low of $13.77 and a 52-week high of $37.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.28 and a current ratio of 1.63. The firm has a market capitalization of $962.56 million, a P/E ratio of 13.97 and a beta of 1.22. The stock has a 50 day moving average price of $30.86 and a 200 day moving average price of $24.98.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Thursday, December 17th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.21. The firm had revenue of $313.60 million during the quarter, compared to analyst estimates 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 period last year, the company earned $0.57 EPS. As a group, sell-side analysts forecast that Apogee Enterprises will post 2.3 EPS for the current year.

In other news, Director Bernard P. Aldrich sold 20,000 shares of the stock in a transaction on Wednesday, December 23rd. The shares were sold at an average price of $32.51, for a total transaction of $650,200.00. Following the transaction, the director now owns 15,652 shares in the company, valued at approximately $508,846.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.10% of the stock is owned by corporate insiders.

A number of equities research analysts recently weighed in on the stock. ValuEngine downgraded shares of 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. Craig Hallum boosted their price objective on shares of Apogee Enterprises from $31.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, December 21st. BidaskClub raised shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 18th. Finally, TheStreet raised shares of Apogee Enterprises from a “c” rating to a “b-” rating in a research report on Thursday, October 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $25.50.

Apogee Enterprises Company Profile

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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