Man Group plc Invests $1.06 Million in Apogee Enterprises, Inc. $APOG

Man Group plc purchased a new position in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 23,150 shares of the industrial products company’s stock, valued at approximately $1,059,000. Man Group plc owned approximately 0.11% of Apogee Enterprises at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in shares of Apogee Enterprises in the 2nd quarter valued at $39,000. Parallel Advisors LLC bought a new stake in shares of Apogee Enterprises during the 1st quarter worth $30,000. Raymond James Financial Inc. acquired a new stake in Apogee Enterprises in the second quarter valued at about $38,000. PNC Financial Services Group Inc. boosted its stake in Apogee Enterprises by 38.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,065 shares of the industrial products company’s stock valued at $36,000 after buying an additional 296 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Apogee Enterprises in the first quarter valued at about $41,000. 94.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on APOG shares. Wall Street Zen raised shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings raised shares of Apogee Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Finally, Zacks Research cut shares of Apogee Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Apogee Enterprises has an average rating of “Moderate Buy” and a consensus target price of $70.50.

Apogee Enterprises Stock Performance

Shares of APOG stock opened at $38.06 on Thursday. The firm has a market capitalization of $794.24 million, a price-to-earnings ratio of 11.93, a PEG ratio of 1.06 and a beta of 1.14. The company has a current ratio of 1.76, a quick ratio of 1.34 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $41.18 and its 200-day moving average price is $38.23. Apogee Enterprises, Inc. has a 12 month low of $30.75 and a 12 month high of $50.88.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Friday, June 26th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.14. The company had revenue of $342.68 million during the quarter, compared to the consensus estimate of $333.84 million. Apogee Enterprises had a return on equity of 14.72% and a net margin of 4.88%.The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. Apogee Enterprises has set its FY 2027 guidance at 2.700-3.250 EPS. Equities research analysts forecast that Apogee Enterprises, Inc. will post 2.96 EPS for the current year.

Apogee Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Tuesday, July 14th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, July 14th. Apogee Enterprises’s dividend payout ratio is 33.86%.

Apogee Enterprises Company Profile

Apogee Enterprises, Inc is a diversified manufacturer and distributor of value-added architectural products and services. The company specializes in the design, fabrication and installation of high-performance glass, framing systems, curtain walls, skylights and other building envelope solutions. Its operations span three primary platforms—Architectural Framing Systems, Architectural Glass and Architectural Services—enabling Apogee to deliver complete, integrated façade systems for new construction, renovation and retrofit projects.

Headquartered in Minneapolis, Minnesota, Apogee traces its roots to the mid-20th century and today serves commercial, institutional and residential markets across North America and Europe.