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

Apogee Enterprises, Inc. (NASDAQ:APOG) declared a quarterly dividend on Wednesday, January 8th,RTT News reports. Shareholders of record on Tuesday, January 28th will be paid a dividend of 0.26 per share by the industrial products company on Wednesday, February 12th. This represents a $1.04 annualized dividend and a yield of 1.89%. The ex-dividend date is Tuesday, January 28th. This is a boost from Apogee Enterprises’s previous quarterly dividend of $0.25.

Apogee Enterprises has raised its dividend by an average of 7.7% per year over the last three years and has raised its dividend every year for the last 14 years. Apogee Enterprises has a dividend payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Apogee Enterprises to earn $4.43 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 23.5%.

Apogee Enterprises Stock Down 1.2 %

Shares of Apogee Enterprises stock opened at $55.04 on Friday. Apogee Enterprises has a 1 year low of $49.58 and a 1 year high of $87.93. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 12.29 and a beta of 1.04. The company has a 50-day moving average of $71.34 and a 200 day moving average of $70.30. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.63 and a quick ratio of 1.27.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. The business had revenue of $341.30 million for the quarter, compared to the consensus estimate of $332.27 million. During the same period in the previous year, the company posted $1.23 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apogee Enterprises will post 4.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 9th. Singular Research upgraded shares of Apogee Enterprises to a “moderate buy” rating in a report on Tuesday, January 14th. Sidoti raised shares of Apogee Enterprises from a “neutral” rating to a “buy” rating in a research report on Friday, January 10th. Finally, DA Davidson lowered their price target on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th.

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).