Morgan Stanley reduced its position in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 37.4% during the first quarter, Holdings Channel reports. The institutional investor owned 74,247 shares of the industrial products company’s stock after selling 44,323 shares during the period. Morgan Stanley’s holdings in Apogee Enterprises were worth $4,425,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in shares of Apogee Enterprises by 12.5% in the first quarter. Russell Investments Group Ltd. now owns 287,033 shares of the industrial products company’s stock worth $17,108,000 after buying an additional 31,979 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Apogee Enterprises by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,180 shares of the industrial products company’s stock worth $189,000 after buying an additional 60 shares in the last quarter. Geneva Advisors LLC acquired a new position in shares of Apogee Enterprises during the first quarter worth about $591,000. Bank of New York Mellon Corp increased its position in shares of Apogee Enterprises by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 651,833 shares of the industrial products company’s stock worth $38,857,000 after buying an additional 16,093 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Apogee Enterprises by 1.6% in the first quarter. Principal Financial Group Inc. now owns 236,691 shares of the industrial products company’s stock worth $14,109,000 after buying an additional 3,671 shares in the last quarter.

Shares of Apogee Enterprises, Inc. (NASDAQ APOG) traded up 1.52% on Friday, hitting $51.42. The stock had a trading volume of 117,247 shares. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 17.61 and a beta of 1.56. The firm has a 50 day moving average of $53.65 and a 200-day moving average of $55.57. Apogee Enterprises, Inc. has a 1-year low of $39.88 and a 1-year high of $61.00.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings data on Thursday, June 22nd. The industrial products company reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.09. Apogee Enterprises had a return on equity of 18.59% and a net margin of 7.39%. The company had revenue of $272.30 million during the quarter, compared to analysts’ expectations of $271.13 million. During the same quarter last year, the business earned $0.61 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. Equities analysts predict that Apogee Enterprises, Inc. will post $3.38 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, July 10th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $0.56 annualized dividend and a yield of 1.09%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 19.24%.

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APOG has been the topic of a number of recent analyst reports. ValuEngine downgraded Apogee Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. BidaskClub downgraded Apogee Enterprises from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Zacks Investment Research raised Apogee Enterprises from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective on the stock in a research note on Monday, June 19th. Finally, Sidoti initiated coverage on Apogee Enterprises in a research note on Thursday, May 25th. They issued a “buy” rating and a $70.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $64.75.

In other Apogee Enterprises news, Director Jerome L. Davis sold 18,706 shares of the firm’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $55.04, for a total value of $1,029,578.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.70% of the company’s stock.

Apogee Enterprises Company 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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Institutional Ownership by Quarter for Apogee Enterprises (NASDAQ:APOG)

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