Alliancebernstein L.P. Acquires 28,570 Shares of Apogee Enterprises, Inc. (APOG)
Alliancebernstein L.P. raised its holdings in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 74.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,170 shares of the industrial products company’s stock after purchasing an additional 28,570 shares during the quarter. Alliancebernstein L.P. owned 0.23% of Apogee Enterprises worth $3,818,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Cim Investment Mangement Inc. increased its stake in Apogee Enterprises by 83.8% during the 2nd quarter. Cim Investment Mangement Inc. now owns 10,546 shares of the industrial products company’s stock valued at $599,000 after purchasing an additional 4,807 shares in the last quarter. Bank of America Corp DE increased its stake in Apogee Enterprises by 24.8% during the 1st quarter. Bank of America Corp DE now owns 335,527 shares of the industrial products company’s stock valued at $20,001,000 after purchasing an additional 66,763 shares in the last quarter. BlackRock Inc. increased its stake in Apogee Enterprises by 19,368.0% during the 1st quarter. BlackRock Inc. now owns 4,227,467 shares of the industrial products company’s stock valued at $252,000,000 after purchasing an additional 4,205,752 shares in the last quarter. Principal Financial Group Inc. increased its stake in Apogee Enterprises by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 236,691 shares of the industrial products company’s stock valued at $14,109,000 after purchasing an additional 3,671 shares in the last quarter. Finally, State Street Corp boosted its holdings in Apogee Enterprises by 3.5% during the 1st quarter. State Street Corp now owns 1,099,051 shares of the industrial products company’s stock worth $65,517,000 after acquiring an additional 37,383 shares during the last quarter.
APOG has been the topic of a number of analyst reports. DA Davidson set a $52.00 price objective on shares of Apogee Enterprises and gave the stock a “buy” rating in a report on Thursday, August 24th. ValuEngine raised shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research downgraded shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, BidaskClub downgraded shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $63.33.
Apogee Enterprises, Inc. (NASDAQ:APOG) opened at 49.24 on Friday. The firm’s 50-day moving average is $45.48 and its 200-day moving average is $52.34. The stock has a market capitalization of $1.42 billion, a P/E ratio of 17.97 and a beta of 1.56. 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 quarterly earnings results on Tuesday, September 19th. The industrial products company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.04. Apogee Enterprises had a return on equity of 17.89% and a net margin of 6.57%. The firm had revenue of $343.91 million during the quarter, compared to the consensus estimate of $349.97 million. During the same period last year, the company earned $0.77 earnings per share. The company’s revenue was up 23.5% on a year-over-year basis. Analysts predict that Apogee Enterprises, Inc. will post $3.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Tuesday, October 24th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, October 23rd. This represents a $0.56 annualized dividend and a dividend yield of 1.14%. Apogee Enterprises’s payout ratio is presently 20.44%.
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Apogee Enterprises 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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