NWQ Investment Management Company LLC lessened its stake in shares of Apogee Enterprises Inc (NASDAQ:APOG) by 1.4% during the 4th quarter, Holdings Channel reports. The firm owned 506,770 shares of the industrial products company’s stock after selling 7,102 shares during the quarter. NWQ Investment Management Company LLC’s holdings in Apogee Enterprises were worth $23,175,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Stone Ridge Asset Management LLC purchased a new stake in Apogee Enterprises during the 4th quarter worth approximately $292,000. Deutsche Bank AG grew its position in Apogee Enterprises by 13.4% during the 4th quarter. Deutsche Bank AG now owns 64,600 shares of the industrial products company’s stock worth $2,952,000 after purchasing an additional 7,612 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Apogee Enterprises during the 4th quarter worth approximately $2,110,000. Geode Capital Management LLC grew its position in Apogee Enterprises by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 255,378 shares of the industrial products company’s stock worth $11,678,000 after purchasing an additional 3,016 shares during the last quarter. Finally, Tieton Capital Management LLC purchased a new stake in shares of Apogee Enterprises in the 4th quarter valued at $3,815,000. 99.70% of the stock is currently owned by institutional investors.
Shares of Apogee Enterprises Inc (NASDAQ:APOG) opened at $46.24 on Wednesday. The company has a market cap of $1,321.98, a price-to-earnings ratio of 16.63, a PEG ratio of 1.14 and a beta of 1.57. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 0.45. Apogee Enterprises Inc has a twelve month low of $40.03 and a twelve month high of $59.98.
Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.14). The business had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $373.35 million. Apogee Enterprises had a net margin of 6.24% and a return on equity of 17.99%. The firm’s revenue was up 30.1% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. sell-side analysts predict that Apogee Enterprises Inc will post 3.05 earnings per share for the current fiscal year.
Apogee Enterprises declared that its board has initiated a stock repurchase plan on Tuesday, January 9th that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th were issued a $0.1575 dividend. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.14. This represents a $0.63 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Monday, January 29th. Apogee Enterprises’s dividend payout ratio is 22.66%.
In other news, Director Sara L. Hays sold 2,229 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $45.46, for a total value of $101,330.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by corporate insiders.
Several analysts have recently commented on APOG shares. Zacks Investment Research raised shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. BidaskClub downgraded shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Finally, ValuEngine downgraded shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Apogee Enterprises currently has an average rating of “Buy” and an average price target of $61.00.
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Apogee Enterprises 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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