Apogee Enterprises, Inc. (NASDAQ:APOG) Raises Dividend to $0.26 Per Share

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 1.98%. 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% per year over the last three years and has increased its dividend every year for the last 13 years.

Apogee Enterprises Trading Down 8.8 %

Shares of APOG stock opened at $52.52 on Thursday. Apogee Enterprises has a 52-week low of $51.15 and a 52-week high of $87.93. The company has a 50-day simple moving average of $77.90 and a two-hundred day simple moving average of $70.85. 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 company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 11.06 and a beta of 1.04.

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 analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $341.30 million for the quarter, compared to analysts’ expectations of $332.27 million. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. Research analysts anticipate that Apogee Enterprises will post 5.06 EPS for the current fiscal year.

Analysts Set New Price Targets

APOG has been the topic of several research analyst reports. DA Davidson dropped 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. StockNews.com cut Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Thursday.

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).