Apogee Enterprises, Inc. Plans Quarterly Dividend of $0.22 (NASDAQ:APOG)

Apogee Enterprises, Inc. (NASDAQ:APOG – Get Rating) declared a quarterly dividend on Friday, April 22nd, Wall Street Journal reports. Investors of record on Tuesday, May 10th will be paid a dividend of 0.22 per share by the industrial products company on Wednesday, May 25th. This represents a $0.88 annualized dividend and a yield of 1.91%. The ex-dividend date is Monday, May 9th.

Apogee Enterprises has a payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Apogee Enterprises to earn $3.55 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 24.8%.

NASDAQ:APOG traded down $3.05 during mid-day trading on Friday, hitting $46.04. 5,692 shares of the stock traded hands, compared to its average volume of 196,408. The business’s 50-day moving average price is $46.62 and its 200 day moving average price is $45.41. The company has a market cap of $1.14 billion, a PE ratio of 420.13 and a beta of 1.15. Apogee Enterprises has a 12-month low of $33.88 and a 12-month high of $50.44. The company has a quick ratio of 1.34, a current ratio of 1.45 and a debt-to-equity ratio of 0.42.

Apogee Enterprises (NASDAQ:APOG – Get Rating) last issued its quarterly earnings data on Thursday, April 7th. The industrial products company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.72 by $0.19. The company had revenue of $328.00 million during the quarter, compared to analysts’ expectations of $322.02 million. Apogee Enterprises had a net margin of 0.27% and a return on equity of 13.65%. Apogee Enterprises’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 earnings per share. Analysts anticipate that Apogee Enterprises will post 3.05 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in APOG. Royal Bank of Canada raised its holdings in Apogee Enterprises by 128.6% during the 2nd quarter. Royal Bank of Canada now owns 3,333 shares of the industrial products company’s stock valued at $136,000 after buying an additional 1,875 shares during the last quarter. Jane Street Group LLC raised its holdings in Apogee Enterprises by 11.4% during the 3rd quarter. Jane Street Group LLC now owns 6,390 shares of the industrial products company’s stock valued at $241,000 after buying an additional 653 shares during the last quarter. LPL Financial LLC bought a new stake in Apogee Enterprises during the 4th quarter valued at $250,000. Susquehanna International Group LLP raised its holdings in Apogee Enterprises by 147.8% during the 4th quarter. Susquehanna International Group LLP now owns 12,778 shares of the industrial products company’s stock valued at $615,000 after buying an additional 7,621 shares during the last quarter. Finally, Millennium Management LLC bought a new position in Apogee Enterprises in the 3rd quarter worth $783,000. 99.49% of the stock is owned by institutional investors.

A number of equities analysts have commented on the stock. StockNews.com cut shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a research note on Tuesday, April 12th. Craig Hallum cut shares of Apogee Enterprises from a “buy” rating to a “hold” rating and cut their price target for the stock from $54.00 to $47.00 in a research note on Friday, April 8th. Finally, TheStreet cut shares of Apogee Enterprises from a “b-” rating to a “c+” rating in a research note on Monday, April 11th.

About Apogee Enterprises (Get Rating)

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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