Prudential Financial Inc. boosted its position in Apogee Enterprises Inc. (NASDAQ:APOG) by 10.7% during the second quarter, Holdings Channel reports. The fund owned 98,120 shares of the company’s stock after buying an additional 9,470 shares during the period. Prudential Financial Inc. owned 0.34% of Apogee Enterprises worth $4,548,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of APOG. Springbok Capital Management LLC increased its stake in Apogee Enterprises by 18.9% in the first quarter. Springbok Capital Management LLC now owns 5,800 shares of the company’s stock worth $255,000 after buying an additional 920 shares during the last quarter. Granahan Investment Management Inc. MA increased its stake in Apogee Enterprises by 25.8% in the first quarter. Granahan Investment Management Inc. MA now owns 469,162 shares of the company’s stock worth $20,592,000 after buying an additional 96,200 shares during the last quarter. Prudential PLC increased its stake in Apogee Enterprises by 51.9% in the first quarter. Prudential PLC now owns 134,400 shares of the company’s stock worth $5,899,000 after buying an additional 45,900 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in Apogee Enterprises by 7.7% in the first quarter. Loomis Sayles & Co. L P now owns 469,411 shares of the company’s stock worth $20,603,000 after buying an additional 33,424 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Apogee Enterprises by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 70,534 shares of the company’s stock worth $3,095,000 after buying an additional 2,777 shares during the last quarter. Institutional investors own 98.28% of the company’s stock.
Shares of Apogee Enterprises Inc. (NASDAQ:APOG) opened at 43.90 on Friday. The stock has a market capitalization of $1.27 billion, a P/E ratio of 16.25 and a beta of 1.52. Apogee Enterprises Inc. has a 12 month low of $33.67 and a 12 month high of $54.34. The stock has a 50 day moving average price of $45.64 and a 200 day moving average price of $45.03.
Apogee Enterprises (NASDAQ:APOG) last posted its earnings results on Wednesday, September 14th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.67 by $0.10. Apogee Enterprises had a return on equity of 18.68% and a net margin of 7.65%. The firm had revenue of $278.50 million for the quarter. During the same quarter in the prior year, the business earned $0.50 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year. On average, analysts anticipate that Apogee Enterprises Inc. will post $2.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 9th. Investors of record on Tuesday, October 25th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, October 21st. Apogee Enterprises’s dividend payout ratio is currently 18.52%.
A number of research firms have commented on APOG. Zacks Investment Research downgraded Apogee Enterprises from a “buy” rating to a “hold” rating in a research report on Tuesday, August 23rd. Goldman Sachs Group Inc. downgraded Apogee Enterprises from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $53.00 to $50.00 in a research report on Monday, July 11th. Finally, DA Davidson set a $56.00 price objective on Apogee Enterprises and gave the company a “buy” rating in a research report on Tuesday, September 13th.
In related news, Director Robert J. Marzec sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $48.04, for a total value of $144,120.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.70% of the stock is owned by corporate insiders.
About Apogee Enterprises
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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