Kornitzer Capital Management Inc. KS cut its stake in Apogee Enterprises Inc. (NASDAQ:APOG) by 23.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 37,300 shares of the company’s stock after selling 11,200 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Apogee Enterprises were worth $1,729,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. State Street Corp raised its position in Apogee Enterprises by 0.9% in the first quarter. State Street Corp now owns 1,015,758 shares of the company’s stock valued at $44,582,000 after buying an additional 9,466 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Apogee Enterprises by 2.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 780,643 shares of the company’s stock valued at $34,262,000 after buying an additional 20,743 shares during the last quarter. RS Investment Management Co. LLC raised its position in Apogee Enterprises by 1.3% in the second quarter. RS Investment Management Co. LLC now owns 692,137 shares of the company’s stock valued at $32,081,000 after buying an additional 8,984 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in Apogee Enterprises by 4.6% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 632,641 shares of the company’s stock valued at $29,323,000 after buying an additional 27,860 shares during the last quarter. Finally, Emerald Advisers Inc. PA raised its position in Apogee Enterprises by 3.0% in the second quarter. Emerald Advisers Inc. PA now owns 629,795 shares of the company’s stock valued at $29,191,000 after buying an additional 18,345 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors.
Shares of Apogee Enterprises Inc. (NASDAQ:APOG) traded down 0.55% during trading on Wednesday, hitting $43.05. 256,326 shares of the stock traded hands. Apogee Enterprises Inc. has a 12 month low of $33.67 and a 12 month high of $54.34. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 15.94 and a beta of 1.52. The company has a 50 day moving average price of $45.36 and a 200 day moving average price of $45.05.
Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Wednesday, September 14th. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.10. Apogee Enterprises had a net margin of 7.65% and a return on equity of 18.68%. The company had revenue of $278.50 million for the quarter. During the same period in the prior year, the business posted $0.50 EPS. Apogee Enterprises’s revenue for the quarter was up 15.7% on a year-over-year basis. Analysts anticipate that Apogee Enterprises Inc. will post $2.86 earnings per share 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 issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, October 21st. Apogee Enterprises’s dividend payout ratio is currently 18.52%.
Several equities analysts recently issued reports on APOG shares. Zacks Investment Research upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Tuesday, June 28th. DA Davidson set a $56.00 price objective on shares of Apogee Enterprises and gave the company a “buy” rating in a report on Tuesday, September 13th. Finally, Goldman Sachs Group Inc. lowered shares of Apogee Enterprises from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $53.00 to $50.00 in a report on Monday, July 11th.
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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