Apogee Enterprises (NASDAQ:APOG) Sets New 52-Week Low – Time to Sell?

Shares of Apogee Enterprises, Inc. (NASDAQ:APOG) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $51.22 and last traded at $51.54, with a volume of 214685 shares changing hands. The stock had previously closed at $52.52.

Analyst Ratings Changes

A number of analysts have commented on APOG shares. StockNews.com lowered Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Thursday. DA Davidson cut their price objective on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Sidoti upgraded Apogee Enterprises from a “neutral” rating to a “buy” rating in a report on Friday.

Apogee Enterprises Price Performance

The company’s 50 day simple moving average is $77.45 and its 200-day simple moving average is $70.72. The company has a current ratio of 1.65, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 10.83 and a beta of 1.04.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The firm had revenue of $341.30 million during the quarter, compared to analysts’ expectations of $332.27 million. During the same period in the previous year, the company earned $1.23 EPS. Apogee Enterprises’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts predict that Apogee Enterprises, Inc. will post 5.06 earnings per share for the current fiscal year.

Apogee Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.02%. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.25. Apogee Enterprises’s dividend payout ratio is currently 21.05%.

Institutional Investors Weigh In On Apogee Enterprises

Several hedge funds have recently modified their holdings of APOG. Gladius Capital Management LP acquired a new position in shares of Apogee Enterprises in the 3rd quarter valued at about $33,000. GAMMA Investing LLC lifted its position in Apogee Enterprises by 43.2% during the third 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 in the last quarter. Quarry LP grew its stake in Apogee Enterprises by 959.4% during the second quarter. Quarry LP now owns 731 shares of the industrial products company’s stock worth $46,000 after buying an additional 662 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Apogee Enterprises in the third quarter worth $58,000. Finally, CWM LLC raised its stake in shares of 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 acquiring an additional 190 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Apogee Enterprises Company Profile

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).