BlackRock Advisors LLC boosted its stake in shares of Apogee Enterprises Inc. (NASDAQ:APOG) by 91.9% during the second quarter, Holdings Channel reports. The fund owned 90,648 shares of the company’s stock after buying an additional 43,401 shares during the period. BlackRock Advisors LLC owned about 0.31% of Apogee Enterprises worth $4,202,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Falcon Point Capital LLC increased its stake in Apogee Enterprises by 2.2% in the second quarter. Falcon Point Capital LLC now owns 357,364 shares of the company’s stock worth $16,564,000 after buying an additional 7,522 shares in the last quarter. BlackRock Group LTD increased its stake in Apogee Enterprises by 17.3% in the first quarter. BlackRock Group LTD now owns 46,382 shares of the company’s stock worth $2,035,000 after buying an additional 6,829 shares in the last quarter. Emerald Advisers Inc. PA increased its stake in Apogee Enterprises by 3.0% in the second quarter. Emerald Advisers Inc. PA now owns 629,795 shares of the company’s stock worth $29,191,000 after buying an additional 18,345 shares in the last quarter. State Street Corp increased its stake in Apogee Enterprises by 0.9% in the first quarter. State Street Corp now owns 1,015,758 shares of the company’s stock worth $44,582,000 after buying an additional 9,466 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Apogee Enterprises by 10.3% in the first quarter. Prudential Financial Inc. now owns 88,650 shares of the company’s stock worth $3,891,000 after buying an additional 8,268 shares in the last quarter. 98.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Apogee Enterprises Inc. (NASDAQ:APOG) opened at 43.29 on Wednesday. The stock has a market cap of $1.25 billion, a P/E ratio of 16.03 and a beta of 1.52. The firm has a 50 day moving average of $45.36 and a 200 day moving average of $45.05. Apogee Enterprises Inc. has a one year low of $33.67 and a one year high of $54.34.
Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Wednesday, September 14th. The company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. Apogee Enterprises had a net margin of 7.65% and a return on equity of 18.68%. The business had revenue of $278.50 million for the quarter. During the same period last year, the business earned $0.50 EPS. The firm’s revenue was up 15.7% on a year-over-year basis. On average, equities research analysts predict that Apogee Enterprises Inc. will post $2.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 9th. Investors of record on Tuesday, October 25th will be issued a $0.125 dividend. The ex-dividend date is Friday, October 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.16%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 18.52%.
A number of research firms recently commented on APOG. DA Davidson set a $56.00 price objective on shares of Apogee Enterprises and gave the stock a “buy” rating in a report on Tuesday, September 13th. Zacks Investment Research downgraded shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Tuesday, August 23rd. Finally, Goldman Sachs Group Inc. downgraded shares of Apogee Enterprises from a “buy” rating to a “neutral” rating and reduced their price target for the company from $53.00 to $50.00 in a report on Monday, July 11th.
About Apogee Enterprises
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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