Apogee Enterprises, Inc. (APOG) Shares Sold by Royal Bank of Canada
Royal Bank of Canada lowered its holdings in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 26.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,435 shares of the industrial products company’s stock after selling 61,416 shares during the quarter. Royal Bank of Canada owned approximately 0.60% of Apogee Enterprises worth $9,915,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in APOG. UBS Asset Management Americas Inc. grew its holdings in Apogee Enterprises by 58.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 18,883 shares of the industrial products company’s stock valued at $1,126,000 after buying an additional 6,954 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Apogee Enterprises during the 1st quarter valued at approximately $146,000. Mason Street Advisors LLC grew its holdings in Apogee Enterprises by 6.1% during the 1st quarter. Mason Street Advisors LLC now owns 6,698 shares of the industrial products company’s stock valued at $399,000 after buying an additional 383 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in Apogee Enterprises by 1.6% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,400 shares of the industrial products company’s stock valued at $500,000 after buying an additional 130 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in Apogee Enterprises by 6.2% during the 1st quarter. OppenheimerFunds Inc. now owns 14,128 shares of the industrial products company’s stock valued at $842,000 after buying an additional 829 shares in the last quarter.
Shares of Apogee Enterprises, Inc. (APOG) opened at 47.45 on Tuesday. Apogee Enterprises, Inc. has a 1-year low of $39.88 and a 1-year high of $61.00. The stock has a 50 day moving average price of $46.14 and a 200 day moving average price of $51.88. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 17.32 and a beta of 1.56.
Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings results on Tuesday, September 19th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $343.91 million during the quarter, compared to analyst estimates of $349.97 million. Apogee Enterprises had a return on equity of 17.89% and a net margin of 6.57%. The business’s revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 earnings per share. On average, equities analysts anticipate 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 given a $0.14 dividend. The ex-dividend date is Monday, October 23rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.18%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 20.44%.
Several equities analysts have weighed in on APOG shares. ValuEngine cut Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research cut Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. DA Davidson set a $52.00 price target on Apogee Enterprises and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, BidaskClub cut Apogee Enterprises from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $63.33.
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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