Apogee Enterprises, Inc. (NASDAQ:APOG) Plans $0.25 Quarterly Dividend

Apogee Enterprises, Inc. (NASDAQ:APOG) announced a quarterly dividend on Thursday, October 3rd, Zacks reports. Shareholders of record on Tuesday, October 22nd will be paid a dividend of 0.25 per share by the industrial products company on Wednesday, November 6th. This represents a $1.00 annualized dividend and a yield of 1.19%. The ex-dividend date is Tuesday, October 22nd.

Apogee Enterprises has raised its dividend by an average of 8.6% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Apogee Enterprises has a payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Apogee Enterprises to earn $4.49 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 22.3%.

Apogee Enterprises Stock Up 22.7 %

Shares of APOG opened at $83.93 on Friday. The company has a market capitalization of $1.84 billion, a P/E ratio of 17.23 and a beta of 0.98. Apogee Enterprises has a one year low of $41.01 and a one year high of $86.22. The business’s 50 day simple moving average is $65.46 and its 200-day simple moving average is $63.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.64 and a quick ratio of 1.29.

Insider Buying and Selling at Apogee Enterprises

In other Apogee Enterprises news, insider Brent C. Jewell sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $64.34, for a total transaction of $321,700.00. Following the completion of the sale, the insider now owns 23,405 shares in the company, valued at approximately $1,505,877.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. DA Davidson boosted their price objective on Apogee Enterprises from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. StockNews.com raised Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a report on Friday, July 26th.

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).