JPMorgan Chase & Co. increased its stake in Apergy Corp (NYSE:APY) by 48.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,485 shares of the company’s stock after acquiring an additional 47,289 shares during the period. JPMorgan Chase & Co.’s holdings in Apergy were worth $5,974,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its stake in shares of Apergy by 1.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 30,909 shares of the company’s stock valued at $837,000 after acquiring an additional 401 shares in the last quarter. American International Group Inc. raised its stake in shares of Apergy by 0.3% in the fourth quarter. American International Group Inc. now owns 157,649 shares of the company’s stock valued at $4,269,000 after acquiring an additional 428 shares in the last quarter. Neuburgh Advisers LLC raised its stake in shares of Apergy by 5.6% in the fourth quarter. Neuburgh Advisers LLC now owns 9,614 shares of the company’s stock valued at $260,000 after acquiring an additional 506 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Apergy by 1.1% in the fourth quarter. Arizona State Retirement System now owns 55,511 shares of the company’s stock valued at $1,503,000 after acquiring an additional 596 shares in the last quarter. Finally, Mason Street Advisors LLC raised its stake in shares of Apergy by 1.5% in the first quarter. Mason Street Advisors LLC now owns 41,134 shares of the company’s stock valued at $1,689,000 after acquiring an additional 623 shares in the last quarter. Institutional investors and hedge funds own 92.26% of the company’s stock.
Apergy stock opened at $32.05 on Friday. Apergy Corp has a 1-year low of $25.85 and a 1-year high of $46.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.44 and a current ratio of 2.53. The firm has a market capitalization of $2.37 billion and a price-to-earnings ratio of 22.26.
Apergy (NYSE:APY) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. Apergy had a return on equity of 11.40% and a net margin of 7.47%. The company had revenue of $301.70 million for the quarter, compared to analysts’ expectations of $301.37 million. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, analysts anticipate that Apergy Corp will post 1.47 earnings per share for the current fiscal year.
APY has been the topic of a number of analyst reports. Jefferies Financial Group raised their price target on Apergy to $49.00 and gave the company a “buy” rating in a research note on Monday, March 4th. They noted that the move was a valuation call. Barclays restated a “buy” rating and issued a $42.00 price target on shares of Apergy in a research note on Wednesday, February 20th. Bank of America restated a “buy” rating and issued a $46.00 price target (up from $42.00) on shares of Apergy in a research note on Wednesday, February 20th. Johnson Rice upgraded Apergy from an “accumulate” rating to a “buy” rating and raised their price target for the company from $45.00 to $48.00 in a research note on Monday, March 11th. Finally, Wells Fargo & Co initiated coverage on Apergy in a research note on Monday, March 4th. They issued an “outperform” rating and a $52.00 price target on the stock. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $45.80.
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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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