Rice Hall James & Associates LLC reduced its stake in shares of Apogee Enterprises Inc. (NASDAQ:APOG) by 2.3% during the second quarter, Holdings Channel reports. The firm owned 42,894 shares of the company’s stock after selling 1,031 shares during the period. Rice Hall James & Associates LLC’s holdings in Apogee Enterprises were worth $1,988,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Bank of Montreal Can bought a new stake in Apogee Enterprises during the second quarter valued at $228,000. Nisa Investment Advisors LLC increased its stake in Apogee Enterprises by 2.9% in the second quarter. Nisa Investment Advisors LLC now owns 5,350 shares of the company’s stock valued at $248,000 after buying an additional 150 shares during the period. Springbok Capital Management LLC increased its stake in Apogee Enterprises by 18.9% in the first quarter. Springbok Capital Management LLC now owns 5,800 shares of the company’s stock valued at $255,000 after buying an additional 920 shares during the period. Adams Diversified Equity Fund Inc. bought a new stake in Apogee Enterprises during the second quarter valued at $375,000. Finally, BNP Paribas Arbitrage SA increased its stake in Apogee Enterprises by 109.3% in the second quarter. BNP Paribas Arbitrage SA now owns 8,973 shares of the company’s stock valued at $416,000 after buying an additional 4,685 shares during the period. Hedge funds and other institutional investors own 98.28% of the company’s stock.
Shares of Apogee Enterprises Inc. (NASDAQ:APOG) traded down 2.61% during trading on Friday, reaching $45.47. 227,286 shares of the company’s stock traded hands. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 16.83 and a beta of 1.52. Apogee Enterprises Inc. has a 1-year low of $33.67 and a 1-year high of $54.34. The stock has a 50-day moving average of $46.19 and a 200-day moving average of $45.00.
Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings results on Wednesday, September 14th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $278.50 million for the quarter. During the same period last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, equities 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 paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, October 21st. Apogee Enterprises’s payout ratio is 18.52%.
Several analysts recently weighed in on APOG shares. Zacks Investment Research upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Tuesday, June 28th. DA Davidson set a $56.00 price target on shares of Apogee Enterprises and gave the company a “buy” rating in a research report on Tuesday, September 13th. Finally, Goldman Sachs Group Inc. cut shares of Apogee Enterprises from a “buy” rating to a “neutral” rating and decreased their price target for the company from $53.00 to $50.00 in a research report on Monday, July 11th.
In related news, Director Robert J. Marzec sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $48.04, for a total transaction of $144,120.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph F. Puishys sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $46.53, for a total transaction of $1,163,250.00. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.
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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