Apogee Enterprises, Inc. (NASDAQ:APOG) Declares Dividend Increase – $0.26 Per Share

Apogee Enterprises, Inc. (NASDAQ:APOG) declared a quarterly dividend on Thursday, January 9th,RTT News reports. Stockholders of record on Tuesday, January 28th will be given a dividend of 0.26 per share by the industrial products company on Wednesday, February 12th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Tuesday, January 28th. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.25.

Apogee Enterprises has raised its dividend payment by an average of 7.7% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Apogee Enterprises has a dividend payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Apogee Enterprises to earn $4.69 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 22.2%.

Apogee Enterprises Stock Down 3.4 %

APOG stock opened at $50.75 on Friday. The company has a 50 day moving average price of $77.45 and a two-hundred day moving average price of $70.72. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.65. The stock has a market capitalization of $1.11 billion, a P/E ratio of 10.68 and a beta of 1.04. Apogee Enterprises has a one year low of $50.67 and a one year high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The firm had revenue of $341.30 million during the quarter, compared to analyst estimates of $332.27 million. During the same period in the prior year, the firm posted $1.23 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. As a group, sell-side analysts expect that Apogee Enterprises will post 5.06 EPS for the current year.

Analyst Ratings Changes

APOG has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Thursday. DA Davidson decreased their price target on shares of Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Sidoti upgraded Apogee Enterprises from a “neutral” rating to a “buy” rating in a report on Friday.

Apogee Enterprises Company Profile

Apogee Enterprises, Inc provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).