Apogee Enterprises Inc (NASDAQ:APOG) declared a quarterly dividend on Monday, April 29th, Zacks reports. Stockholders of record on Thursday, May 16th will be paid a dividend of 0.175 per share by the industrial products company on Friday, May 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Wednesday, May 15th.
Apogee Enterprises has increased its dividend payment by an average of 12.7% annually over the last three years and has raised its dividend every year for the last 7 years. Apogee Enterprises has a payout ratio of 21.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Apogee Enterprises to earn $3.56 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 19.7%.
Shares of APOG stock opened at $38.93 on Tuesday. Apogee Enterprises has a 52 week low of $26.38 and a 52 week high of $50.87. The company has a current ratio of 1.63, a quick ratio of 1.29 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.05 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.29 and a beta of 1.62.
A number of equities analysts have recently commented on APOG shares. BidaskClub raised shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, March 30th. ValuEngine raised shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a research note on Monday. DA Davidson raised their target price on shares of Apogee Enterprises to $35.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Sidoti downgraded shares of Apogee Enterprises from a “buy” rating to a “neutral” rating in a research note on Monday, February 25th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $45.25.
In related news, Director Jerome L. Davis sold 9,276 shares of the firm’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $37.63, for a total transaction of $349,055.88. Following the completion of the sale, the director now directly owns 17,251 shares of the company’s stock, valued at approximately $649,155.13. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sara L. Hays sold 1,985 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $39.14, for a total transaction of $77,692.90. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.
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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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