Apogee Enterprises, Inc. (NASDAQ:APOG) Sees Significant Drop in Short Interest

Apogee Enterprises, Inc. (NASDAQ:APOG) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totalling 1,140,000 shares, a drop of 7.3% from the May 31st total of 1,230,000 shares. Based on an average trading volume of 151,100 shares, the short-interest ratio is presently 7.5 days. Approximately 5.3% of the shares of the stock are short sold.

Apogee Enterprises Trading Down 0.2 %

NASDAQ APOG opened at $61.59 on Wednesday. The stock has a market cap of $1.36 billion, a P/E ratio of 12.65 and a beta of 1.00. Apogee Enterprises has a fifty-two week low of $41.01 and a fifty-two week high of $67.92. The stock has a 50 day simple moving average of $63.53 and a two-hundred day simple moving average of $58.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.29 and a current ratio of 1.64.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Thursday, June 27th. The industrial products company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.28. The company had revenue of $331.50 million during the quarter, compared to the consensus estimate of $333.22 million. Apogee Enterprises had a return on equity of 24.74% and a net margin of 7.72%. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. On average, analysts forecast that Apogee Enterprises will post 4.86 earnings per share for the current year.

Apogee Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Wednesday, July 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Wednesday, July 10th. Apogee Enterprises’s dividend payout ratio is currently 20.53%.

Insider Buying and Selling at Apogee Enterprises

In other Apogee Enterprises news, CEO Ty R. Silberhorn sold 10,679 shares of Apogee Enterprises stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $63.10, for a total transaction of $673,844.90. Following the completion of the sale, the chief executive officer now directly owns 110,806 shares in the company, valued at $6,991,858.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Ty R. Silberhorn sold 10,679 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $63.10, for a total value of $673,844.90. Following the transaction, the chief executive officer now owns 110,806 shares of the company’s stock, valued at $6,991,858.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Curtis John Dobler sold 3,548 shares of Apogee Enterprises stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $62.67, for a total value of $222,353.16. Following the sale, the executive vice president now directly owns 30,369 shares of the company’s stock, valued at approximately $1,903,225.23. The disclosure for this sale can be found here. Insiders have sold a total of 77,252 shares of company stock valued at $4,786,214 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Apogee Enterprises

A number of institutional investors have recently bought and sold shares of APOG. Vanguard Group Inc. grew its holdings in shares of Apogee Enterprises by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 3,097,343 shares of the industrial products company’s stock worth $165,429,000 after acquiring an additional 53,484 shares during the period. Victory Capital Management Inc. raised its holdings in Apogee Enterprises by 11.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,141,762 shares of the industrial products company’s stock worth $60,982,000 after purchasing an additional 120,882 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Apogee Enterprises by 69.8% in the fourth quarter. Pacer Advisors Inc. now owns 537,470 shares of the industrial products company’s stock worth $28,706,000 after purchasing an additional 220,898 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Apogee Enterprises by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 379,235 shares of the industrial products company’s stock valued at $20,255,000 after buying an additional 9,092 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Apogee Enterprises by 32.3% during the 3rd quarter. Invesco Ltd. now owns 294,513 shares of the industrial products company’s stock valued at $13,866,000 after buying an additional 71,915 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, DA Davidson lifted their target price on shares of Apogee Enterprises from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th.

About Apogee Enterprises

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).