James Investment Research Inc. purchased a new position in shares of Apogee Enterprises Inc (NASDAQ:APOG) during the third quarter, HoldingsChannel reports. The fund purchased 50,290 shares of the industrial products company’s stock, valued at approximately $2,078,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System lifted its holdings in Apogee Enterprises by 23.9% during the first quarter. California Public Employees Retirement System now owns 36,383 shares of the industrial products company’s stock valued at $1,577,000 after purchasing an additional 7,007 shares in the last quarter. Royal Bank of Canada lifted its holdings in Apogee Enterprises by 72.9% during the first quarter. Royal Bank of Canada now owns 8,883 shares of the industrial products company’s stock valued at $384,000 after purchasing an additional 3,746 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in Apogee Enterprises during the first quarter valued at $214,000. Midas Management Corp lifted its holdings in Apogee Enterprises by 17.8% during the second quarter. Midas Management Corp now owns 53,000 shares of the industrial products company’s stock valued at $2,553,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Apogee Enterprises during the second quarter valued at $284,000. 98.89% of the stock is currently owned by hedge funds and other institutional investors.
APOG opened at $37.19 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.33 and a debt-to-equity ratio of 0.42. The firm has a market cap of $987.51 million, a price-to-earnings ratio of 11.30, a P/E/G ratio of 1.10 and a beta of 1.50. Apogee Enterprises Inc has a 52-week low of $33.10 and a 52-week high of $51.33.
Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings data on Tuesday, September 18th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.09). The company had revenue of $362.10 million for the quarter, compared to analysts’ expectations of $364.57 million. Apogee Enterprises had a net margin of 5.81% and a return on equity of 16.96%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 earnings per share. On average, research analysts anticipate that Apogee Enterprises Inc will post 3.2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 7th. Stockholders of record on Tuesday, October 23rd will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, October 22nd. Apogee Enterprises’s dividend payout ratio is currently 20.32%.
Apogee Enterprises declared that its board has authorized a stock buyback program on Wednesday, October 3rd that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Several equities analysts have issued reports on the stock. ValuEngine raised shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Zacks Investment Research downgraded shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. BidaskClub downgraded shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, August 4th. DA Davidson set a $48.00 price objective on shares of Apogee Enterprises and gave the company a “hold” rating in a report on Wednesday, September 19th. Finally, TheStreet downgraded shares of Apogee Enterprises from a “b” rating to a “c+” rating in a report on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Apogee Enterprises has a consensus rating of “Hold” and a consensus price target of $50.25.
In other Apogee Enterprises news, Director Herbert K. Parker purchased 7,000 shares of the firm’s stock in a transaction dated Monday, October 29th. The shares were purchased at an average cost of $33.38 per share, with a total value of $233,660.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.90% of the company’s stock.
Apogee Enterprises Profile
Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.
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