Apogee Enterprises, Inc. (APOG) Position Increased by M&T Bank Corp
M&T Bank Corp lifted its stake in Apogee Enterprises, Inc. (NASDAQ:APOG) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,971 shares of the industrial products company’s stock after purchasing an additional 244 shares during the period. M&T Bank Corp’s holdings in Apogee Enterprises were worth $283,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in APOG. Riverhead Capital Management LLC lifted its stake in shares of Apogee Enterprises by 99.8% in the second quarter. Riverhead Capital Management LLC now owns 2,398 shares of the industrial products company’s stock valued at $136,000 after purchasing an additional 1,198 shares during the period. Forward Management LLC acquired a new stake in shares of Apogee Enterprises in the second quarter valued at about $137,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Apogee Enterprises in the first quarter valued at about $146,000. Janney Capital Management LLC acquired a new stake in shares of Apogee Enterprises in the second quarter valued at about $208,000. Finally, Pinebridge Investments L.P. lifted its stake in shares of Apogee Enterprises by 1.5% in the second quarter. Pinebridge Investments L.P. now owns 3,792 shares of the industrial products company’s stock valued at $216,000 after purchasing an additional 55 shares during the period.
Several analysts recently commented on the stock. DA Davidson set a $52.00 price objective on shares of Apogee Enterprises and gave the company a “buy” rating in a research note on Thursday, August 24th. BidaskClub cut shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. ValuEngine cut shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Zacks Investment Research cut shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Apogee Enterprises currently has a consensus rating of “Hold” and a consensus price target of $63.33.
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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 Zacks’ consensus estimate of $0.71 by $0.04. Apogee Enterprises had a net margin of 6.57% and a return on equity of 17.89%. The company had revenue of $343.91 million during the quarter, compared to the consensus estimate of $349.97 million. During the same period in the prior year, the company earned $0.77 EPS. Apogee Enterprises’s revenue was up 23.5% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Tuesday, October 24th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Monday, October 23rd. Apogee Enterprises’s payout ratio is 20.44%.
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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