Apogee Enterprises (NASDAQ:APOG) Stock Rating Lowered by StockNews.com

by · The Markets Daily

StockNews.com cut shares of Apogee Enterprises (NASDAQ:APOG – Free Report) from a strong-buy rating to a buy rating in a research note released on Monday morning.

Separately, DA Davidson boosted their price objective on shares of Apogee Enterprises from $60.00 to $65.00 and gave the stock a neutral rating in a research note on Friday, June 28th.

Check Out Our Latest Analysis on Apogee Enterprises

Apogee Enterprises Stock Down 1.1 %

Shares of Apogee Enterprises stock opened at $77.05 on Monday. Apogee Enterprises has a 12-month low of $41.01 and a 12-month high of $86.22. The company has a quick ratio of 1.29, a current ratio of 1.64 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $66.55 and a two-hundred day moving average price of $63.80. The stock has a market capitalization of $1.69 billion, a P/E ratio of 15.82 and a beta of 0.98.

Apogee Enterprises (NASDAQ:APOG – Get Free Report) last issued its quarterly earnings data on Friday, October 4th. The industrial products company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.21. Apogee Enterprises had a net margin of 7.72% and a return on equity of 24.74%. The business had revenue of $342.40 million during the quarter, compared to analysts’ expectations of $335.31 million. During the same period in the previous year, the company earned $1.36 earnings per share. Apogee Enterprises’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts expect that Apogee Enterprises will post 4.86 earnings per share for the current year.

Apogee Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Tuesday, October 22nd. Apogee Enterprises’s payout ratio is currently 20.53%.

Insider Activity at Apogee Enterprises

In related news, insider Brent C. Jewell sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $64.34, for a total transaction of $321,700.00. Following the completion of the transaction, the insider now directly owns 23,405 shares in the company, valued at $1,505,877.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Apogee Enterprises

Several large investors have recently bought and sold shares of APOG. GAMMA Investing LLC increased its holdings in Apogee Enterprises by 43.2% in the 3rd quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $38,000 after buying an additional 163 shares during the period. CWM LLC increased its holdings in Apogee Enterprises by 19.9% in the 3rd quarter. CWM LLC now owns 1,147 shares of the industrial products company’s stock valued at $80,000 after buying an additional 190 shares during the period. Louisiana State Employees Retirement System increased its holdings in Apogee Enterprises by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the industrial products company’s stock valued at $697,000 after buying an additional 200 shares during the period. EntryPoint Capital LLC increased its holdings in Apogee Enterprises by 31.4% in the 1st quarter. EntryPoint Capital LLC now owns 929 shares of the industrial products company’s stock valued at $55,000 after buying an additional 222 shares during the period. Finally, SummerHaven Investment Management LLC increased its holdings in Apogee Enterprises by 1.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 15,641 shares of the industrial products company’s stock valued at $983,000 after buying an additional 231 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Apogee Enterprises Company Profile

(Get Free Report)

Apogee Enterprises, Inc provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).

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