Capital Management Associates NY bought a new stake in Apogee Enterprises Inc (NASDAQ:APOG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,800 shares of the industrial products company’s stock, valued at approximately $540,000.
Other institutional investors have also recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. increased its position in Apogee Enterprises by 79.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,486 shares of the industrial products company’s stock valued at $120,000 after buying an additional 1,100 shares in the last quarter. Flinton Capital Management LLC increased its position in Apogee Enterprises by 80.0% in the 2nd quarter. Flinton Capital Management LLC now owns 3,060 shares of the industrial products company’s stock valued at $174,000 after buying an additional 1,360 shares in the last quarter. SG Americas Securities LLC bought a new stake in Apogee Enterprises in the 3rd quarter valued at about $190,000. Advisor Group Inc. increased its position in Apogee Enterprises by 76.9% in the 2nd quarter. Advisor Group Inc. now owns 3,444 shares of the industrial products company’s stock valued at $195,000 after buying an additional 1,497 shares in the last quarter. Finally, Miles Capital Inc. bought a new stake in Apogee Enterprises in the 4th quarter valued at about $207,000. 98.98% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on APOG. BidaskClub lowered Apogee Enterprises from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th. ValuEngine lowered Apogee Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research raised Apogee Enterprises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Apogee Enterprises currently has an average rating of “Buy” and a consensus price target of $61.00.
Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 17.99% and a net margin of 6.24%. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 earnings per share. sell-side analysts predict that Apogee Enterprises Inc will post 3.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th will be issued a dividend of $0.1575 per share. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.14. This represents a $0.63 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Monday, January 29th. Apogee Enterprises’s payout ratio is currently 22.66%.
Apogee Enterprises declared that its board has initiated a stock repurchase plan on Tuesday, January 9th that allows the company to repurchase 1,000,000 shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other Apogee Enterprises news, Director Sara L. Hays sold 2,229 shares of the business’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.70% of the company’s stock.
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Apogee Enterprises 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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