Apogee Enterprises, Inc. (NASDAQ:APOG) announced a quarterly dividend on Wednesday, January 12th, Zacks reports. Stockholders of record on Monday, January 31st will be given a dividend of 0.22 per share by the industrial products company on Tuesday, February 15th. This represents a $0.88 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Friday, January 28th. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.20.
Apogee Enterprises has increased its dividend by 27.0% over the last three years and has increased its dividend annually for the last 11 consecutive years. Apogee Enterprises has a dividend payout ratio of 27.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Apogee Enterprises to earn $2.77 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 28.9%.
Apogee Enterprises stock opened at $49.65 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.68 and a quick ratio of 1.34. Apogee Enterprises has a fifty-two week low of $33.88 and a fifty-two week high of $50.44. The stock’s fifty day moving average is $46.27 and its two-hundred day moving average is $42.34.
In other news, SVP Gary Robert Johnson sold 3,524 shares of Apogee Enterprises stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $44.50, for a total value of $156,818.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.38% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in APOG. Royal Bank of Canada raised its stake in shares of Apogee Enterprises by 128.6% in the 2nd quarter. Royal Bank of Canada now owns 3,333 shares of the industrial products company’s stock worth $136,000 after buying an additional 1,875 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Apogee Enterprises by 11.4% in the 3rd quarter. Jane Street Group LLC now owns 6,390 shares of the industrial products company’s stock worth $241,000 after buying an additional 653 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Apogee Enterprises in the 3rd quarter worth $783,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on APOG. Craig Hallum increased their target price on Apogee Enterprises from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, November 18th. Zacks Investment Research upgraded Apogee Enterprises from a “sell” rating to a “hold” rating and set a $51.00 target price on the stock in a research report on Tuesday, November 23rd. Finally, TheStreet upgraded Apogee Enterprises from a “c+” rating to a “b-” rating in a report on Monday.
About Apogee Enterprises
Apogee Enterprises, Inc engages in the design and development of architectural products and services. It also provides architectural glass, aluminum framing systems and installation services for buildings, as well as value-added glazing products for custom picture framing. The company operates through the following segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies.
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