Apogee Enterprises Inc (APOG) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. cut its stake in shares of Apogee Enterprises Inc (NASDAQ:APOG) by 5.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,883 shares of the industrial products company’s stock after selling 300 shares during the period. Palouse Capital Management Inc.’s holdings in Apogee Enterprises were worth $291,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in Apogee Enterprises by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,297,609 shares of the industrial products company’s stock worth $77,350,000 after buying an additional 5,046 shares during the period. Kennedy Capital Management Inc. raised its position in Apogee Enterprises by 7.0% in the first quarter. Kennedy Capital Management Inc. now owns 368,490 shares of the industrial products company’s stock worth $21,966,000 after buying an additional 24,094 shares during the period. Geode Capital Management LLC raised its position in Apogee Enterprises by 4.5% in the first quarter. Geode Capital Management LLC now owns 266,307 shares of the industrial products company’s stock worth $15,874,000 after buying an additional 11,371 shares during the period. Vanguard Group Inc. raised its position in Apogee Enterprises by 5.6% in the first quarter. Vanguard Group Inc. now owns 2,562,618 shares of the industrial products company’s stock worth $152,757,000 after buying an additional 135,949 shares during the period. Finally, Marshall Wace North America L.P. purchased a new position in Apogee Enterprises during the first quarter worth approximately $1,292,000.

Institutional Ownership by Quarter for Apogee Enterprises (NASDAQ:APOG)

Shares of Apogee Enterprises Inc (APOG) traded up 2.29% on Friday, hitting $58.13. 154,151 shares of the company traded hands. Apogee Enterprises Inc has a 1-year low of $39.88 and a 1-year high of $61.00. The firm’s 50 day moving average price is $53.98 and its 200-day moving average price is $54.83. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 19.57 and a beta of 1.40.

Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings results on Thursday, April 13th. The industrial products company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.72 by $0.08. The firm had revenue of $314.13 million for the quarter, compared to analyst estimates of $291.18 million. Apogee Enterprises had a return on equity of 19.12% and a net margin of 7.77%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. On average, equities research analysts expect that Apogee Enterprises Inc will post $3.40 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Friday, May 19th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $0.56 annualized dividend and a dividend yield of 0.96%. Apogee Enterprises’s dividend payout ratio is currently 19.65%.

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APOG has been the subject of several research analyst reports. Sidoti initiated coverage on shares of Apogee Enterprises in a research report on Thursday, May 25th. They set a “buy” rating and a $70.00 target price for the company. Zacks Investment Research upgraded shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a research report on Friday, April 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $60.40.

In related news, CEO Joseph F. Puishys sold 40,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $56.13, for a total transaction of $2,245,200.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 180,000 shares of company stock worth $10,084,600. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:APOG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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