Comerica Bank increased its position in Apogee Enterprises Inc (NASDAQ:APOG) by 75.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 97,167 shares of the industrial products company’s stock after purchasing an additional 41,834 shares during the quarter. Comerica Bank owned approximately 0.34% of Apogee Enterprises worth $4,401,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Delphi Management Inc. MA lifted its position in Apogee Enterprises by 89.2% in the fourth quarter. Delphi Management Inc. MA now owns 53,427 shares of the industrial products company’s stock worth $2,443,000 after purchasing an additional 25,194 shares during the period. LSV Asset Management lifted its position in Apogee Enterprises by 38.0% in the fourth quarter. LSV Asset Management now owns 63,900 shares of the industrial products company’s stock worth $2,922,000 after purchasing an additional 17,600 shares during the period. Miles Capital Inc. bought a new position in Apogee Enterprises in the fourth quarter worth $207,000. Congress Asset Management Co. MA lifted its position in Apogee Enterprises by 9.8% in the fourth quarter. Congress Asset Management Co. MA now owns 104,886 shares of the industrial products company’s stock worth $4,796,000 after purchasing an additional 9,369 shares during the period. Finally, Reilly Financial Advisors LLC lifted its position in Apogee Enterprises by 36.1% in the fourth quarter. Reilly Financial Advisors LLC now owns 27,425 shares of the industrial products company’s stock worth $1,254,000 after purchasing an additional 7,270 shares during the period. 98.98% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on APOG. BidaskClub raised Apogee Enterprises from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. Zacks Investment Research raised Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. Finally, ValuEngine cut Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.00.
In other Apogee Enterprises news, Director Sara L. Hays sold 2,229 shares of Apogee Enterprises stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $45.46, for a total transaction of $101,330.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.70% of the stock is currently owned by company insiders.
Apogee Enterprises Inc (NASDAQ APOG) opened at $44.16 on Friday. The stock has a market capitalization of $1,222.52, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.58. Apogee Enterprises Inc has a twelve month low of $40.03 and a twelve month high of $61.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.32 and a current ratio of 1.79.
Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.14). The company had revenue of $356.50 million for the quarter, compared to the consensus estimate of $373.35 million. Apogee Enterprises had a net margin of 6.24% and a return on equity of 17.99%. The firm’s revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 earnings per share. equities research analysts anticipate that Apogee Enterprises Inc will post 3.05 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th were issued a dividend of $0.1575 per share. The ex-dividend date of this dividend was Monday, January 29th. This is a boost from Apogee Enterprises’s previous quarterly dividend of $0.14. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.43%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 22.66%.
Apogee Enterprises declared that its Board of Directors has initiated a share buyback plan on Tuesday, January 9th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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Apogee Enterprises Company Profile
Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.
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