Apogee Enterprises Inc. (APOG) Stock Price Up 2.5% After Dividend Announcement
Apogee Enterprises Inc. (NASDAQ:APOG) rose 2.5% during trading on Thursday following a dividend announcement from the company. The stock traded as high as $46.72 and last traded at $46.64, with a volume of 178,608 shares changing hands. 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 issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, October 21st. Apogee Enterprises’s dividend payout ratio is currently 18.52%.
APOG has been the subject of a number of research reports. DA Davidson set a $56.00 price target on shares of Apogee Enterprises and gave the company a “buy” rating in a report on Tuesday, September 13th. Zacks Investment Research lowered shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Tuesday, August 23rd. Finally, Goldman Sachs Group Inc. lowered shares of Apogee Enterprises from a “buy” rating to a “neutral” rating and lowered their price target for the company from $53.00 to $50.00 in a report on Monday, July 11th.
The firm has a market cap of $1.31 billion, a PE ratio of 16.83 and a beta of 1.52. The stock’s 50-day moving average price is $46.19 and its 200 day moving average price is $45.00.
Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Wednesday, September 14th. The company reported $0.77 earnings per share for the quarter, topping the Zacks’ 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 company earned $278.50 million during the quarter. During the same period last year, the company posted $0.50 EPS. The business’s revenue was up 15.7% on a year-over-year basis. Equities analysts predict that Apogee Enterprises Inc. will post $2.86 EPS for the current year.
In other news, Director Robert J. Marzec sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $48.04, for a total transaction of $144,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph F. Puishys sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $46.53, for a total transaction of $1,163,250.00. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. PineBridge Investments L.P. increased 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 period. Nisa Investment Advisors LLC increased 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 period. California Public Employees Retirement System increased its stake in shares of Apogee Enterprises by 0.3% in the second quarter. California Public Employees Retirement System now owns 57,400 shares of the company’s stock worth $2,660,000 after buying an additional 200 shares during the period. Arizona State Retirement System increased its stake in shares of Apogee Enterprises by 1.4% in the second quarter. Arizona State Retirement System now owns 14,987 shares of the company’s stock worth $695,000 after buying an additional 200 shares during the period. Finally, KCG Holdings Inc. increased its stake in shares of Apogee Enterprises by 4.2% in the second quarter. KCG Holdings Inc. now owns 6,474 shares of the company’s stock worth $300,000 after buying an additional 261 shares during the period. 98.28% of the stock is owned by institutional investors.
Apogee Enterprises Company Profile
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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