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

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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 3.41%. The ex-dividend date 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 payout ratio of 31.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Apogee Enterprises to earn $2.08 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 36.1%.

NASDAQ APOG opened at $22.04 on Friday. The stock’s fifty day moving average is $22.37 and its two-hundred day moving average is $25.26. The firm has a market capitalization of $580.09 million, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 1.15 and a beta of 1.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.12 and a current ratio of 0.87. Apogee Enterprises has a fifty-two week low of $13.77 and a fifty-two week high of $46.70.

Apogee Enterprises (NASDAQ:APOG) last issued its earnings results on Friday, June 26th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). The company had revenue of $289.10 million during the quarter, compared to analyst estimates of $304.54 million. Apogee Enterprises had a return on equity of 10.21% and a net margin of 3.74%. The firm’s revenue was down 18.7% compared to the same quarter last year. During the same period last year, the business earned $0.60 earnings per share. As a group, sell-side analysts forecast that Apogee Enterprises will post 1.7 EPS for the current year.

A number of equities analysts have commented on APOG shares. Zacks Investment Research raised shares of Apogee Enterprises from a “sell” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, June 3rd. BidaskClub lowered shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a research report on Friday, July 3rd. DA Davidson decreased their price objective on Apogee Enterprises from $35.00 to $22.00 in a report on Friday, April 3rd. Finally, Sidoti cut their target price on Apogee Enterprises from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the stock. Apogee Enterprises currently has a consensus rating of “Hold” and an average target price of $20.00.

In related news, Director Lloyd Emerson Johnson acquired 25,140 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were purchased at an average cost of $18.75 per share, for a total transaction of $471,375.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.

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.

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Dividend History for Apogee Enterprises (NASDAQ:APOG)

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