Allspring Global Investments Holdings LLC increased its position in Apogee Enterprises, Inc. (NASDAQ:APOG – Get Rating) by 53.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,012 shares of the industrial products company's stock after purchasing an additional 2,097 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Apogee Enterprises were worth $229,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new stake in Apogee Enterprises in the third quarter worth about $405,000. 360 Financial Inc. acquired a new stake in Apogee Enterprises in the third quarter worth about $224,000. Bailard Inc. increased its position in Apogee Enterprises by 23.9% in the third quarter. Bailard Inc. now owns 14,000 shares of the industrial products company's stock worth $535,000 after purchasing an additional 2,700 shares during the period. Unison Advisors LLC increased its position in Apogee Enterprises by 33.7% in the third quarter. Unison Advisors LLC now owns 20,282 shares of the industrial products company's stock worth $775,000 after purchasing an additional 5,108 shares during the period. Finally, National Bank of Canada FI acquired a new stake in Apogee Enterprises in the third quarter worth about $1,020,000. 88.38% of the stock is currently owned by institutional investors and hedge funds.
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Insider Activity
In other news, insider Brent C. Jewell sold 4,500 shares of Apogee Enterprises stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $45.36, for a total transaction of $204,120.00. Following the transaction, the insider now owns 10,816 shares in the company, valued at approximately $490,613.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.82% of the stock is currently owned by company insiders.
Apogee Enterprises Price Performance
Shares of APOG opened at $44.44 on Thursday. The company has a current ratio of 1.71, a quick ratio of 1.34 and a debt-to-equity ratio of 0.54. Apogee Enterprises, Inc. has a 1 year low of $35.96 and a 1 year high of $50.23. The stock has a market cap of $987.19 million, a P/E ratio of 14.43 and a beta of 1.10. The stock's 50-day moving average price is $45.73 and its two-hundred day moving average price is $43.32.
Apogee Enterprises (NASDAQ:APOG – Get Rating) last issued its earnings results on Thursday, December 22nd. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.09. Apogee Enterprises had a return on equity of 25.58% and a net margin of 4.75%. The firm had revenue of $367.85 million for the quarter, compared to analysts' expectations of $354.60 million. On average, equities analysts predict that Apogee Enterprises, Inc. will post 3.96 earnings per share for the current year.
Apogee Enterprises Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 31st will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, January 30th. This represents a $0.96 dividend on an annualized basis and a yield of 2.16%. This is a boost from Apogee Enterprises's previous quarterly dividend of $0.22. Apogee Enterprises's dividend payout ratio (DPR) is 28.57%.
Analysts Set New Price Targets
Separately, StockNews.com assumed coverage on Apogee Enterprises in a research report on Wednesday, October 12th. They issued a "strong-buy" rating for the company.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Apogee Enterprises (APOG)
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