Posted by Defense World Staff on Sep 16th, 2024
Rhumbline Advisers cut its holdings in shares of Apogee Enterprises, Inc. (NASDAQ:APOG – Free Report) by 0.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,459 shares of the industrial products company’s stock after selling 572 shares during the period. Rhumbline Advisers owned about 0.32% of Apogee Enterprises worth $4,427,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Apogee Enterprises by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 3,097,343 shares of the industrial products company’s stock valued at $165,429,000 after purchasing an additional 53,484 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Apogee Enterprises by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 379,235 shares of the industrial products company’s stock valued at $20,255,000 after purchasing an additional 9,092 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Apogee Enterprises by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 303,220 shares of the industrial products company’s stock valued at $19,053,000 after buying an additional 3,881 shares during the last quarter. Norges Bank acquired a new stake in shares of Apogee Enterprises during the fourth quarter worth approximately $7,893,000. Finally, Panagora Asset Management Inc. increased its stake in shares of Apogee Enterprises by 4.6% in the second quarter. Panagora Asset Management Inc. now owns 136,578 shares of the industrial products company’s stock worth $8,582,000 after buying an additional 5,964 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, insider Brent C. Jewell sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $64.34, for a total transaction of $321,700.00. Following the completion of the transaction, the insider now directly owns 23,405 shares of the company’s stock, valued at $1,505,877.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. StockNews.com upgraded shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 26th. DA Davidson increased their price target on shares of Apogee Enterprises from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th.
Get Our Latest Stock Analysis on APOG
Apogee Enterprises Price Performance
Shares of APOG opened at $65.44 on Monday. Apogee Enterprises, Inc. has a 52 week low of $41.01 and a 52 week high of $70.64. The company has a current ratio of 1.64, a quick ratio of 1.29 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 13.44 and a beta of 0.98. The stock has a 50 day moving average of $63.76 and a 200-day moving average of $62.04.
Apogee Enterprises (NASDAQ:APOG – Get Free Report) last released its earnings results on Thursday, June 27th. The industrial products company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.28. The firm had revenue of $331.50 million during the quarter, compared to analyst estimates of $333.22 million. Apogee Enterprises had a net margin of 7.72% and a return on equity of 24.74%. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 earnings per share. As a group, analysts forecast that Apogee Enterprises, Inc. will post 4.86 EPS for the current year.
Apogee Enterprises Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Wednesday, July 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.00 annualized dividend and a yield of 1.53%. Apogee Enterprises’s dividend payout ratio (DPR) is 20.53%.
Apogee Enterprises Company Profile
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).
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