Geode Capital Management LLC raised its position in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 255,378 shares of the industrial products company’s stock after acquiring an additional 3,016 shares during the quarter. Geode Capital Management LLC owned approximately 0.90% of Apogee Enterprises worth $11,678,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of APOG. Nationwide Fund Advisors boosted its position in Apogee Enterprises by 63.9% during the 3rd quarter. Nationwide Fund Advisors now owns 26,325 shares of the industrial products company’s stock valued at $1,270,000 after acquiring an additional 10,264 shares in the last quarter. SG Americas Securities LLC bought a new stake in Apogee Enterprises during the 3rd quarter valued at approximately $190,000. American International Group Inc. boosted its position in Apogee Enterprises by 5.8% during the 3rd quarter. American International Group Inc. now owns 22,486 shares of the industrial products company’s stock valued at $1,085,000 after acquiring an additional 1,224 shares in the last quarter. Legal & General Group Plc boosted its position in Apogee Enterprises by 5.6% during the 3rd quarter. Legal & General Group Plc now owns 57,618 shares of the industrial products company’s stock valued at $2,781,000 after acquiring an additional 3,069 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Apogee Enterprises by 1,123.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 119,140 shares of the industrial products company’s stock valued at $5,725,000 after acquiring an additional 109,398 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Sara L. Hays sold 2,229 shares of Apogee Enterprises stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $45.46, for a total transaction of $101,330.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by company insiders.
Several research firms have weighed in on APOG. Goldman Sachs cut Apogee Enterprises from a “neutral” rating to a “sell” rating in a research report on Wednesday. BidaskClub raised Apogee Enterprises from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. Zacks Investment Research upgraded shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, ValuEngine lowered shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Apogee Enterprises presently has an average rating of “Hold” and an average price target of $61.00.
APOG stock opened at $42.15 on Friday. Apogee Enterprises, Inc. has a 52-week low of $40.03 and a 52-week high of $59.76. The company has a market cap of $1,213.42, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.04 and a beta of 1.49. 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 declared that its board has initiated a stock buyback plan on Tuesday, January 9th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.
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Apogee Enterprises Company Profile
Apogee Enterprises, Inc designs and develops glass products and services in the United States, Canada, and Brazil. The company operates through four segments: Architectural Glass, Architectural Framing Systems, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated and high-performance glass used in customized windows and wall systems comprising the outside skin of commercial, institutional, and multi-family residential buildings.
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