Apogee Enterprises Inc. (APOG) Shares Up 2.5% Following Dividend Announcement
Apogee Enterprises Inc. (NASDAQ:APOG) shares traded up 2.5% during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $46.72 and last traded at $46.64, with a volume of 178,608 shares. The stock had previously closed at $45.51.
The newly announced dividend which will be paid on Wednesday, November 9th. Investors of record on Tuesday, October 25th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.10%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 18.52%.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Apogee Enterprises from a “buy” rating to a “hold” rating in a research report on Tuesday, August 23rd. Goldman Sachs Group Inc. cut shares of Apogee Enterprises from a “buy” rating to a “neutral” rating and cut their price target for the stock from $53.00 to $50.00 in a research note on Monday, July 11th. Finally, DA Davidson set a $56.00 price target on shares of Apogee Enterprises and gave the stock a “buy” rating in a research note on Tuesday, September 13th.
The company has a 50-day moving average price of $46.26 and a 200 day moving average price of $44.98. The firm has a market capitalization of $1.35 billion, a PE ratio of 17.29 and a beta of 1.52.
Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Wednesday, September 14th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.67 by $0.10. Apogee Enterprises had a net margin of 7.65% and a return on equity of 18.68%. The firm had revenue of $278.50 million for the quarter. During the same period last year, the firm earned $0.50 earnings per share. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities analysts expect that Apogee Enterprises Inc. will post $2.86 EPS for the current year.
In other Apogee Enterprises news, CEO Joseph F. Puishys sold 25,000 shares of the business’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $46.53, for a total transaction of $1,163,250.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David Ernest Weiss sold 10,000 shares of the business’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $46.66, for a total transaction of $466,600.00. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
Large investors have recently modified their holdings of the company. Quantbot Technologies LP boosted its stake in shares of Apogee Enterprises by 125.9% in the second quarter. Quantbot Technologies LP now owns 2,937 shares of the company’s stock valued at $136,000 after buying an additional 1,637 shares during the period. PineBridge Investments L.P. boosted its stake in shares of Apogee Enterprises by 3.5% in the second quarter. PineBridge Investments L.P. now owns 3,651 shares of the company’s stock worth $170,000 after buying an additional 122 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Apogee Enterprises by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,056 shares of the company’s stock worth $188,000 after buying an additional 490 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Apogee Enterprises during the second quarter worth about $228,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Apogee Enterprises by 2.9% in the second quarter. Nisa Investment Advisors LLC now owns 5,350 shares of the company’s stock worth $248,000 after buying an additional 150 shares during the last quarter. 98.28% of the stock is currently owned by hedge funds and other 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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