Apogee Enterprises, Inc. (NASDAQ:APOG – Get Rating) declared a quarterly dividend on Thursday, January 12th, Zacks reports. Shareholders of record on Tuesday, January 31st will be paid a dividend of 0.24 per share by the industrial products company on Wednesday, February 15th. This represents a $0.96 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, January 30th. This is a boost from Apogee Enterprises's previous quarterly dividend of $0.22.
Apogee Enterprises has raised its dividend by an average of 7.9% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Apogee Enterprises has a payout ratio of 22.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Apogee Enterprises to earn $3.94 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 22.3%.
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Shares of NASDAQ:APOG opened at $46.56 on Friday. Apogee Enterprises has a fifty-two week low of $35.96 and a fifty-two week high of $50.33. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.54. The firm's 50-day simple moving average is $45.99 and its 200-day simple moving average is $42.94. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 15.12 and a beta of 1.10.
Insider Activity
In related news, Director Herbert K. Parker sold 12,000 shares of the business's stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $43.61, for a total transaction of $523,320.00. Following the sale, the director now owns 21,955 shares of the company's stock, valued at $957,457.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Brent C. Jewell sold 4,500 shares of the firm's stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $45.36, for a total value of $204,120.00. Following the completion of the transaction, the insider now directly owns 10,816 shares of the company's stock, valued at approximately $490,613.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herbert K. Parker sold 12,000 shares of Apogee Enterprises stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $43.61, for a total value of $523,320.00. Following the transaction, the director now directly owns 21,955 shares of the company's stock, valued at $957,457.55. The disclosure for this sale can be found here. Insiders own 1.82% of the company's stock.Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in APOG. Stonebridge Capital Advisors LLC acquired a new position in Apogee Enterprises during the first quarter worth about $47,000. Point72 Hong Kong Ltd grew its holdings in Apogee Enterprises by 35.1% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,300 shares of the industrial products company's stock valued at $62,000 after buying an additional 338 shares during the last quarter. Captrust Financial Advisors increased its position in Apogee Enterprises by 79.2% during the first quarter. Captrust Financial Advisors now owns 2,090 shares of the industrial products company's stock worth $99,000 after buying an additional 924 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Apogee Enterprises by 92.1% in the third quarter. Tower Research Capital LLC TRC now owns 3,149 shares of the industrial products company's stock worth $121,000 after acquiring an additional 1,510 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Apogee Enterprises in the second quarter valued at $337,000. Institutional investors and hedge funds own 88.38% of the company's stock.
Analyst Ratings Changes
Separately, StockNews.com initiated coverage on Apogee Enterprises in a report on Wednesday, October 12th. They issued a "strong-buy" rating for the company.
Apogee Enterprises Company Profile
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Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window; curtain wall; storefront; and entrance systems, such as the outside skin and entrances of commercial, institutional, and multi-family residential buildings.
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