Apogee Enterprises, Inc. to Issue Quarterly Dividend of $0.26 (NASDAQ:APOG)

Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) declared a quarterly dividend on Wednesday, June 25th, RTT News reports. Shareholders of record on Wednesday, July 16th will be paid a dividend of 0.26 per share by the industrial products company on Thursday, July 31st. This represents a $1.04 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, July 16th.

Apogee Enterprises has a dividend payout ratio of 25.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Apogee Enterprises to earn $4.43 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 23.5%.

Apogee Enterprises Stock Performance

NASDAQ:APOG traded up $2.32 on Friday, reaching $41.99. 1,513,132 shares of the company's stock were exchanged, compared to its average volume of 200,523. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.77 and a quick ratio of 1.36. The firm has a market cap of $905.72 million, a price-to-earnings ratio of 17.94 and a beta of 0.97. Apogee Enterprises has a 52 week low of $37.53 and a 52 week high of $87.93. The stock has a fifty day simple moving average of $39.97 and a 200-day simple moving average of $48.74.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last released its quarterly earnings data on Friday, June 27th. The industrial products company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.11. Apogee Enterprises had a net margin of 3.73% and a return on equity of 17.79%. The company had revenue of $346.62 million during the quarter, compared to analyst estimates of $326.08 million. During the same period last year, the business earned $1.44 earnings per share. Apogee Enterprises's revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts predict that Apogee Enterprises will post 4.97 earnings per share for the current year.

Hedge Funds Weigh In On Apogee Enterprises

A number of large investors have recently modified their holdings of the company. Millennium Management LLC raised its stake in Apogee Enterprises by 1,074.3% in the first quarter. Millennium Management LLC now owns 320,220 shares of the industrial products company's stock valued at $14,836,000 after purchasing an additional 292,952 shares in the last quarter. Jane Street Group LLC raised its stake in Apogee Enterprises by 120.3% in the first quarter. Jane Street Group LLC now owns 79,281 shares of the industrial products company's stock valued at $3,673,000 after purchasing an additional 43,297 shares in the last quarter. AQR Capital Management LLC raised its stake in Apogee Enterprises by 24.0% in the first quarter. AQR Capital Management LLC now owns 59,999 shares of the industrial products company's stock valued at $2,780,000 after purchasing an additional 11,608 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Apogee Enterprises by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,992 shares of the industrial products company's stock valued at $602,000 after purchasing an additional 556 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Apogee Enterprises by 40.3% in the first quarter. Royal Bank of Canada now owns 8,515 shares of the industrial products company's stock valued at $395,000 after purchasing an additional 2,447 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Apogee Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, April 25th.

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).