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

Apogee Enterprises, Inc. (NASDAQ:APOG) announced a quarterly dividend on Thursday, January 9th,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 1.98%. This is a boost 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 Price Performance

APOG stock opened at $52.52 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 11.06 and a beta of 1.04. Apogee Enterprises has a 12-month low of $51.15 and a 12-month high of $87.93. The firm’s 50-day moving average price is $77.45 and its two-hundred day moving average price is $70.72.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $341.30 million during 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 firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. As a group, equities analysts predict that Apogee Enterprises will post 5.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. DA Davidson dropped their target price on shares of Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com downgraded Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a 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).