Glenmede Trust Co. NA increased its position in Apogee Enterprises Inc (NASDAQ:APOG) by 16.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 811,253 shares of the industrial products company’s stock after buying an additional 114,840 shares during the period. Glenmede Trust Co. NA owned 2.85% of Apogee Enterprises worth $37,096,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its holdings in Apogee Enterprises by 490.5% in the fourth quarter. Jane Street Group LLC now owns 19,134 shares of the industrial products company’s stock worth $875,000 after buying an additional 24,034 shares during the last quarter. Stone Ridge Asset Management LLC acquired a new position in Apogee Enterprises during the fourth quarter valued at approximately $292,000. Deutsche Bank AG grew its holdings in Apogee Enterprises by 13.4% during the fourth quarter. Deutsche Bank AG now owns 64,600 shares of the industrial products company’s stock valued at $2,952,000 after purchasing an additional 7,612 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in Apogee Enterprises during the fourth quarter valued at approximately $2,110,000. Finally, Geode Capital Management LLC grew its holdings in Apogee Enterprises by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 255,378 shares of the industrial products company’s stock valued at $11,678,000 after purchasing an additional 3,016 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.
Several brokerages have commented on APOG. BidaskClub upgraded Apogee Enterprises from a “hold” rating to a “buy” rating in a report on Friday, March 9th. Zacks Investment Research upgraded Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. Finally, ValuEngine downgraded Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $61.00.
Apogee Enterprises stock opened at $45.25 on Monday. Apogee Enterprises Inc has a twelve month low of $40.03 and a twelve month high of $59.98. The company has a current ratio of 1.79, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $1,285.89, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 1.11 and a beta of 1.57.
Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings results 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). Apogee Enterprises had a net margin of 6.24% and a return on equity of 17.99%. The company had revenue of $356.50 million for the quarter, compared to analyst estimates of $373.35 million. During the same quarter last year, the business earned $0.78 EPS. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. equities research analysts forecast that Apogee Enterprises Inc will post 3.05 EPS for the current year.
Apogee Enterprises announced that its Board of Directors has initiated a stock repurchase program on Tuesday, January 9th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director Sara L. Hays sold 2,229 shares of the firm’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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.10% of the company’s stock.
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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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