Apogee Enterprises, Inc. (APOG) to Issue Quarterly Dividend of $0.26 on February 12th

Apogee Enterprises, Inc. (NASDAQ:APOG) declared a quarterly dividend on Thursday, January 9th,RTT News reports. Investors 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 of this dividend is Tuesday, January 28th. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.25.

Apogee Enterprises has raised its dividend payment by an average of 7.7% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Apogee Enterprises has a payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Equities 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 %

NASDAQ:APOG opened at $50.75 on Friday. Apogee Enterprises has a 52 week low of $50.67 and a 52 week high of $87.93. The stock’s fifty day moving average is $77.45 and its two-hundred day moving average is $70.72. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 10.68 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12.

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

Analyst Upgrades and Downgrades

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

About Apogee Enterprises

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).