Apogee Enterprises, Inc. (NASDAQ:APOG – Get Rating) was the recipient of a significant increase in short interest in the month of December. As of December 30th, there was short interest totalling 586,100 shares, an increase of 10.1% from the December 15th total of 532,400 shares. Currently, 2.7% of the company's stock are short sold. Based on an average daily volume of 114,500 shares, the short-interest ratio is presently 5.1 days.
Apogee Enterprises Stock Up 1.7 %
Shares of NASDAQ:APOG traded up $0.75 during trading on Friday, hitting $44.17. 95,088 shares of the company were exchanged, compared to its average volume of 81,601. The firm's 50 day moving average price is $45.90 and its 200-day moving average price is $43.20. Apogee Enterprises has a 12-month low of $35.96 and a 12-month high of $50.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.71 and a quick ratio of 1.34. The stock has a market capitalization of $981.02 million, a P/E ratio of 14.34 and a beta of 1.10.
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Apogee Enterprises Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Tuesday, January 31st will be given a $0.24 dividend. The ex-dividend date is Monday, January 30th. This is a boost from Apogee Enterprises's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.17%. Apogee Enterprises's payout ratio is 28.57%.
Insider Activity at Apogee Enterprises
In related news, insider Brent C. Jewell sold 4,500 shares of the company's stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $45.36, for a total transaction of $204,120.00. Following the sale, the insider now directly owns 10,816 shares in the company, valued at $490,613.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through
this link. 1.82% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Apogee Enterprises
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Apogee Enterprises by 6.8% during the first quarter. Vanguard Group Inc. now owns 2,868,027 shares of the industrial products company's stock worth $136,117,000 after buying an additional 182,687 shares during the period. Millennium Management LLC purchased a new position in shares of Apogee Enterprises during the second quarter worth approximately $5,442,000. Assenagon Asset Management S.A. acquired a new position in shares of Apogee Enterprises in the 4th quarter valued at $5,353,000. Cubist Systematic Strategies LLC increased its holdings in shares of Apogee Enterprises by 535.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 123,782 shares of the industrial products company's stock valued at $4,855,000 after acquiring an additional 104,288 shares during the period. Finally, Victory Capital Management Inc. raised its position in Apogee Enterprises by 315.9% in the 3rd quarter. Victory Capital Management Inc. now owns 100,695 shares of the industrial products company's stock valued at $3,849,000 after purchasing an additional 76,486 shares during the last quarter. Hedge funds and other institutional investors own 88.38% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com assumed coverage on Apogee Enterprises in a report on Wednesday, October 12th. They issued a "strong-buy" rating on the stock.
About Apogee Enterprises
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Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window; curtain wall; storefront; and entrance systems, such as the outside skin and entrances of commercial, institutional, and multi-family residential buildings.
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