Schwab Charles Investment Management Inc. raised its position in shares of Apogee Enterprises Inc (NASDAQ:APOG) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 191,261 shares of the industrial products company’s stock after buying an additional 10,565 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Apogee Enterprises were worth $8,747,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. lifted its position in Apogee Enterprises by 79.4% during the third 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 during the period. SG Americas Securities LLC purchased a new position in shares of Apogee Enterprises in the 3rd quarter worth about $190,000. Worth Venture Partners LLC purchased a new position in shares of Apogee Enterprises in the 3rd quarter worth about $246,000. Crossmark Global Holdings Inc. purchased a new position in shares of Apogee Enterprises in the 3rd quarter worth about $259,000. Finally, AlphaMark Advisors LLC purchased a new position in shares of Apogee Enterprises in the 3rd quarter worth about $260,000. 98.70% of the stock is owned by institutional investors and hedge funds.
In other news, Director Sara L. Hays sold 2,229 shares of Apogee Enterprises stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $45.46, for a total value of $101,330.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by insiders.
Several equities analysts have recently issued reports on APOG shares. ValuEngine lowered Apogee Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research raised Apogee Enterprises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 21st. Finally, BidaskClub lowered Apogee Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $61.00.
Apogee Enterprises Inc (NASDAQ:APOG) opened at $45.07 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.79 and a quick ratio of 1.32. The stock has a market capitalization of $1,256.90, a PE ratio of 16.21, a PEG ratio of 1.08 and a beta of 1.57. Apogee Enterprises Inc has a 52-week low of $40.03 and a 52-week high of $59.98.
Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings results on Thursday, December 21st. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.14). The company had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $373.35 million. Apogee Enterprises had a return on equity of 17.99% and a net margin of 6.24%. Apogee Enterprises’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 EPS. research analysts expect that Apogee Enterprises Inc will post 3.05 earnings per share for the current year.
Apogee Enterprises announced that its board has approved a stock repurchase program on Tuesday, January 9th that allows the company to repurchase 1,000,000 shares. This repurchase authorization allows the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th were given a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Monday, January 29th. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.14. Apogee Enterprises’s payout ratio is currently 22.66%.
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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