Apogee Enterprises Inc. Plans Quarterly Dividend of $0.13 (APOG)
Apogee Enterprises Inc. (NASDAQ:APOG) declared a quarterly dividend on Wednesday, October 5th. Investors of record on Tuesday, October 25th will be given a dividend of 0.125 per share on Wednesday, November 9th. This represents a $0.50 annualized dividend and a dividend yield of 1.10%.
Apogee Enterprises (NASDAQ:APOG) traded up 0.27% during trading on Wednesday, hitting $45.40. 106,182 shares of the company traded hands. The stock has a 50-day moving average price of $46.28 and a 200-day moving average price of $44.98. The firm has a market capitalization of $1.31 billion, a P/E ratio of 16.81 and a beta of 1.52. Apogee Enterprises has a 12-month low of $33.67 and a 12-month high of $54.34.
Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Wednesday, September 14th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.10. Apogee Enterprises had a return on equity of 18.68% and a net margin of 7.65%. The firm had revenue of $278.50 million for the quarter. During the same period last year, the firm posted $0.50 earnings per share. Apogee Enterprises’s quarterly revenue was up 15.7% compared to the same quarter last year. Equities analysts expect that Apogee Enterprises will post $2.86 EPS for the current fiscal year.
Several equities analysts have issued reports on APOG shares. Zacks Investment Research raised Apogee Enterprises from a “sell” rating to a “hold” rating in a research note on Tuesday, June 7th. Goldman Sachs Group Inc. lowered Apogee Enterprises from a “buy” rating to a “neutral” rating and dropped their price target for the company from $53.00 to $50.00 in a research note on Monday, July 11th. Finally, DA Davidson set a $56.00 price target on Apogee Enterprises and gave the company a “buy” rating in a research note on Tuesday, September 13th.
In other news, CEO Joseph F. Puishys sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $45.95, for a total transaction of $3,446,250.00. Following the transaction, the chief executive officer now directly owns 290,553 shares of the company’s stock, valued at $13,350,910.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Ernest Weiss sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $46.66, for a total value of $466,600.00. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its stake in Apogee Enterprises by 107.4% in the second quarter. American Century Companies Inc. now owns 599,221 shares of the company’s stock worth $27,774,000 after buying an additional 310,303 shares during the last quarter. BlackRock Investment Management LLC raised its stake in Apogee Enterprises by 4.5% in the second quarter. BlackRock Investment Management LLC now owns 119,146 shares of the company’s stock worth $5,522,000 after buying an additional 5,143 shares during the last quarter. BlackRock Inc. raised its stake in Apogee Enterprises by 473.4% in the second quarter. BlackRock Inc. now owns 11,067 shares of the company’s stock worth $512,000 after buying an additional 9,137 shares during the last quarter. BlackRock Fund Advisors raised its stake in Apogee Enterprises by 1.5% in the second quarter. BlackRock Fund Advisors now owns 1,812,287 shares of the company’s stock worth $84,000,000 after buying an additional 25,971 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in Apogee Enterprises by 31.8% in the second quarter. BlackRock Group LTD now owns 61,142 shares of the company’s stock worth $2,833,000 after buying an additional 14,760 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors.
About Apogee Enterprises
Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.
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