First Trust Advisors LP Invests $1.82 Million in Apogee Enterprises, Inc. (APOG)
First Trust Advisors LP bought a new stake in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) during the first quarter, Holdings Channel reports. The institutional investor bought 30,488 shares of the industrial products company’s stock, valued at approximately $1,817,000. First Trust Advisors LP owned about 0.11% of Apogee Enterprises at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of APOG. State of Alaska Department of Revenue increased its stake in Apogee Enterprises by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,180 shares of the industrial products company’s stock valued at $189,000 after buying an additional 60 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Apogee Enterprises by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the industrial products company’s stock valued at $697,000 after buying an additional 100 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Apogee Enterprises by 5.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,560 shares of the industrial products company’s stock valued at $833,000 after buying an additional 780 shares during the last quarter. Reilly Financial Advisors LLC increased its stake in Apogee Enterprises by 9.0% in the first quarter. Reilly Financial Advisors LLC now owns 16,135 shares of the industrial products company’s stock valued at $962,000 after buying an additional 1,335 shares during the last quarter. Finally, Comerica Bank increased its stake in Apogee Enterprises by 4.6% in the fourth quarter. Comerica Bank now owns 30,681 shares of the industrial products company’s stock valued at $1,719,000 after buying an additional 1,361 shares during the last quarter.
Apogee Enterprises, Inc. (NASDAQ APOG) opened at 55.53 on Friday. The company has a 50-day moving average price of $54.56 and a 200 day moving average price of $55.18. The firm has a market cap of $1.59 billion, a PE ratio of 18.70 and a beta of 1.60. Apogee Enterprises, Inc. has a 12 month low of $39.88 and a 12 month high of $61.00.
Apogee Enterprises (NASDAQ:APOG) last issued its earnings results on Thursday, April 13th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.08. Apogee Enterprises had a net margin of 7.70% and a return on equity of 19.14%. The firm had revenue of $314.13 million for the quarter, compared to analysts’ expectations of $291.18 million. During the same quarter last year, the company posted $0.69 earnings per share. Apogee Enterprises’s revenue was up 19.8% on a year-over-year basis. Equities research analysts anticipate that Apogee Enterprises, Inc. will post $3.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Friday, May 19th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $0.56 dividend on an annualized basis and a yield of 1.01%. Apogee Enterprises’s dividend payout ratio is currently 18.92%.
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Several equities analysts recently issued reports on APOG shares. Zacks Investment Research cut Apogee Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 20th. Sidoti started coverage on Apogee Enterprises in a research report on Thursday, May 25th. They issued a “buy” rating and a $70.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $60.40.
In other Apogee Enterprises news, CEO Joseph F. Puishys sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $55.97, for a total value of $5,597,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 180,000 shares of company stock worth $10,084,600 in the last three months. 3.70% of the stock is currently owned by corporate insiders.
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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