Apogee Enterprises, Inc. (NASDAQ:APOG) to Issue $0.27 Quarterly Dividend

Key Points

• $0.27 quarterly dividend declared — ex-dividend/record date Wednesday, May 13 and payable Thursday, May 28, equivalent to $1.08 annually and a 3.0% yield.
• Apogee has raised its dividend each year for the last 14 years and carries a low payout ratio (26.8%), with analysts forecasting $3.04 EPS next year that would imply a future payout ratio of about 35.5%, indicating the dividend is well covered.
• APOG stock last traded near $35.59 with a market cap of roughly $765.5M and a P/E of 19.24, and about 94% of the shares are held by institutional investors.

Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) declared a quarterly dividend on Thursday, April 23rd. Investors of record on Wednesday, May 13th will be paid a dividend of 0.27 per share by the industrial products company on Thursday, May 28th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, May 13th.

Apogee Enterprises has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 14 years. Apogee Enterprises has a payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Apogee Enterprises to earn $3.04 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 35.5%.

Apogee Enterprises Price Performance

APOG stock traded up $0.12 on Thursday, reaching $35.59. 146,127 shares of the company's stock were exchanged, compared to its average volume of 266,490. The stock has a fifty day moving average of $35.97 and a 200-day moving average of $37.03. The company has a quick ratio of 1.45, a current ratio of 1.90 and a debt-to-equity ratio of 0.50. The firm has a market cap of $765.54 million, a PE ratio of 19.24, a P/E/G ratio of 0.98 and a beta of 1.12. Apogee Enterprises has a twelve month low of $30.75 and a twelve month high of $49.99.

Institutional Investors Weigh In On Apogee Enterprises

Several institutional investors and hedge funds have recently added to or reduced their stakes in APOG. Allianz Asset Management GmbH boosted its holdings in Apogee Enterprises by 35.6% in the third quarter. Allianz Asset Management GmbH now owns 269,011 shares of the industrial products company's stock valued at $11,721,000 after purchasing an additional 70,626 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in Apogee Enterprises by 97.1% in the third quarter. Deprince Race & Zollo Inc. now owns 500,428 shares of the industrial products company's stock valued at $21,804,000 after purchasing an additional 246,529 shares during the last quarter. American Century Companies Inc. boosted its holdings in Apogee Enterprises by 3.9% in the third quarter. American Century Companies Inc. now owns 825,322 shares of the industrial products company's stock valued at $35,959,000 after purchasing an additional 31,090 shares during the last quarter. TrueMark Investments LLC purchased a new position in Apogee Enterprises in the third quarter valued at about $6,335,000. Finally, Segall Bryant & Hamill LLC boosted its holdings in Apogee Enterprises by 3.4% in the third quarter. Segall Bryant & Hamill LLC now owns 957,102 shares of the industrial products company's stock valued at $41,701,000 after purchasing an additional 31,461 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

About Apogee Enterprises

Apogee Enterprises, Inc is a diversified manufacturer and distributor of value-added architectural products and services. The company specializes in the design, fabrication and installation of high-performance glass, framing systems, curtain walls, skylights and other building envelope solutions. Its operations span three primary platforms—Architectural Framing Systems, Architectural Glass and Architectural Services—enabling Apogee to deliver complete, integrated façade systems for new construction, renovation and retrofit projects.

Headquartered in Minneapolis, Minnesota, Apogee traces its roots to the mid-20th century and today serves commercial, institutional and residential markets across North America and Europe.

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