Apogee Enterprises (NASDAQ:APOG) Lowered to “Buy” Rating by StockNews.com

StockNews.com cut shares of Apogee Enterprises (NASDAQ:APOG) from a strong-buy rating to a buy rating in a report published on Friday.

Separately, DA Davidson lifted their price objective on shares of Apogee Enterprises from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th.

Apogee Enterprises Trading Down 1.1 %

APOG stock traded down $0.92 on Friday, hitting $82.03. 202,078 shares of the company were exchanged, compared to its average volume of 148,248. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 17.27 and a beta of 0.97. The business’s fifty day moving average is $74.66 and its two-hundred day moving average is $67.49. Apogee Enterprises has a twelve month low of $44.46 and a twelve month high of $87.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.32.

Apogee Enterprises (NASDAQ:APOG) last issued its earnings results on Friday, October 4th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.21. The business had revenue of $342.40 million during the quarter, compared to analysts’ expectations of $335.31 million. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 EPS. As a group, research analysts forecast that Apogee Enterprises will post 5.06 earnings per share for the current year.

Apogee Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Tuesday, October 22nd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Tuesday, October 22nd. Apogee Enterprises’s dividend payout ratio (DPR) is presently 21.05%.

Hedge Funds Weigh In On Apogee Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of APOG. Pacer Advisors Inc. lifted its position in Apogee Enterprises by 15.5% in the 2nd quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company’s stock valued at $57,620,000 after purchasing an additional 122,811 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Apogee Enterprises by 23.2% during the second quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company’s stock worth $33,225,000 after buying an additional 99,495 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in Apogee Enterprises in the 3rd quarter worth approximately $6,845,000. Assenagon Asset Management S.A. increased its position in Apogee Enterprises by 70.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 162,379 shares of the industrial products company’s stock valued at $11,369,000 after acquiring an additional 67,295 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Apogee Enterprises by 1,004.1% during the 2nd quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company’s stock valued at $4,567,000 after acquiring an additional 66,100 shares in the last quarter. 94.05% of the stock is currently 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).