Granite Investment Partners LLC Increases Position in Apergy Corp (NYSE:APY)

Granite Investment Partners LLC lifted its holdings in Apergy Corp (NYSE:APY) by 22.6% in the first quarter, HoldingsChannel reports. The firm owned 24,047 shares of the company’s stock after buying an additional 4,439 shares during the quarter. Granite Investment Partners LLC’s holdings in Apergy were worth $987,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its holdings in Apergy by 2.4% during the 1st quarter. BlackRock Inc. now owns 7,173,535 shares of the company’s stock worth $294,545,000 after acquiring an additional 165,565 shares in the last quarter. Boston Partners grew its holdings in Apergy by 1.3% during the 1st quarter. Boston Partners now owns 5,870,604 shares of the company’s stock worth $241,048,000 after acquiring an additional 74,608 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in Apergy by 8.7% during the 1st quarter. Neuberger Berman Group LLC now owns 1,729,678 shares of the company’s stock worth $71,021,000 after acquiring an additional 138,145 shares in the last quarter. Van ECK Associates Corp grew its holdings in Apergy by 67.7% during the 4th quarter. Van ECK Associates Corp now owns 1,479,528 shares of the company’s stock worth $40,066,000 after acquiring an additional 597,451 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Apergy by 17.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,246,988 shares of the company’s stock worth $51,203,000 after acquiring an additional 186,791 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Several research firms have commented on APY. Zacks Investment Research upgraded shares of Apergy from a “hold” rating to a “strong-buy” rating and set a $48.00 price target for the company in a report on Wednesday, March 20th. Wells Fargo & Co began coverage on shares of Apergy in a report on Monday, March 4th. They set an “outperform” rating and a $52.00 price target for the company. Jefferies Financial Group boosted their price target on shares of Apergy to $49.00 and gave the stock a “buy” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Piper Jaffray Companies began coverage on shares of Apergy in a report on Wednesday, April 3rd. They set an “overweight” rating and a $41.03 price target for the company. Finally, Cowen set a $42.00 price target on shares of Apergy and gave the stock a “buy” rating in a report on Wednesday, February 20th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Apergy currently has an average rating of “Buy” and a consensus price target of $45.80.

APY stock opened at $30.60 on Thursday. Apergy Corp has a 12 month low of $25.85 and a 12 month high of $46.11. The firm has a market capitalization of $2.48 billion and a P/E ratio of 21.25. The company has a quick ratio of 1.44, a current ratio of 2.53 and a debt-to-equity ratio of 0.63.

Apergy (NYSE:APY) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. Apergy had a net margin of 7.47% and a return on equity of 11.40%. The firm had revenue of $301.70 million during the quarter, compared to the consensus estimate of $301.37 million. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities research analysts forecast that Apergy Corp will post 1.47 earnings per share for the current fiscal year.

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Apergy Profile

Apergy Corporation provides engineered equipment and technologies that help companies drill for and produce oil and gas worldwide. The company operates through two segments, Production & Automation Technologies and Drilling Technologies. The Production & Automation Technologies segment offers artificial lift equipment and solutions, including rod pumping systems, electric submersible pump systems, progressive cavity pumps, and drive systems and plunger lifts; and automation and digital equipment, software, and industrial Internet of things solutions for downhole monitoring, wellsite productivity enhancement, and asset integrity management.

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Institutional Ownership by Quarter for Apergy (NYSE:APY)

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