Apogee Enterprises, Inc. (APOG) Stake Boosted by BlackRock Inc.
BlackRock Inc. raised its stake in Apogee Enterprises, Inc. (NASDAQ:APOG) by 204.2% during the third quarter, Holdings Channel reports. The firm owned 33,671 shares of the company’s stock after buying an additional 22,604 shares during the period. BlackRock Inc. owned about 0.12% of Apogee Enterprises worth $1,505,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Japan Co. Ltd boosted its position in Apogee Enterprises by 71.8% in the third quarter. BlackRock Japan Co. Ltd now owns 3,116 shares of the company’s stock valued at $139,000 after buying an additional 1,302 shares during the period. PineBridge Investments L.P. raised its stake in shares of Apogee Enterprises by 3.5% in the second quarter. PineBridge Investments L.P. now owns 3,651 shares of the company’s stock valued at $170,000 after buying an additional 122 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Apogee Enterprises by 31.3% in the third quarter. Quantbot Technologies LP now owns 3,857 shares of the company’s stock valued at $172,000 after buying an additional 920 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Apogee Enterprises by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,056 shares of the company’s stock valued at $188,000 after buying an additional 490 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Apogee Enterprises by 2.9% in the third quarter. Bank of Montreal Can now owns 5,066 shares of the company’s stock valued at $226,000 after buying an additional 145 shares in the last quarter.
Shares of Apogee Enterprises, Inc. (NASDAQ:APOG) opened at 56.03 on Friday. Apogee Enterprises, Inc. has a one year low of $33.67 and a one year high of $56.40. The company has a 50-day moving average price of $50.48 and a 200 day moving average price of $46.59. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 19.65 and a beta of 1.42.
Apogee Enterprises (NASDAQ:APOG) last posted its earnings results on Wednesday, December 14th. The company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. The firm had revenue of $274.07 million for the quarter. Apogee Enterprises had a net margin of 7.77% and a return on equity of 19.12%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share. On average, analysts forecast that Apogee Enterprises, Inc. will post $2.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 31st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.00%. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, January 27th. Apogee Enterprises’s dividend payout ratio is presently 17.54%.
Separately, Zacks Investment Research raised Apogee Enterprises from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective for the company in a report on Tuesday, December 20th.
In other Apogee Enterprises news, Director Robert J. Marzec sold 6,072 shares of the company’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $55.91, for a total transaction of $339,485.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Ernest Weiss sold 10,000 shares of the company’s stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $54.33, for a total transaction of $543,300.00. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
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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