Wells Fargo & Company MN Purchases 43,969 Shares of Apergy Corp (NYSE:APY)

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Wells Fargo & Company MN lifted its position in Apergy Corp (NYSE:APY) by 17.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 294,024 shares of the company’s stock after buying an additional 43,969 shares during the quarter. Wells Fargo & Company MN owned about 0.38% of Apergy worth $9,862,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Apergy by 2.4% in the 1st quarter. BlackRock Inc. now owns 7,173,535 shares of the company’s stock valued at $294,545,000 after buying an additional 165,565 shares in the last quarter. Janus Henderson Group PLC boosted its position in Apergy by 39.1% during the second quarter. Janus Henderson Group PLC now owns 2,250,965 shares of the company’s stock worth $75,497,000 after purchasing an additional 632,150 shares during the period. Bessemer Group Inc. boosted its position in Apergy by 0.9% during the second quarter. Bessemer Group Inc. now owns 2,108,425 shares of the company’s stock worth $70,715,000 after purchasing an additional 18,271 shares during the period. Neuberger Berman Group LLC boosted its position in Apergy by 8.7% during the first quarter. Neuberger Berman Group LLC now owns 1,729,678 shares of the company’s stock worth $71,021,000 after purchasing an additional 138,145 shares during the period. Finally, Clearbridge Investments LLC boosted its position in Apergy by 1.8% during the first quarter. Clearbridge Investments LLC now owns 1,426,564 shares of the company’s stock worth $58,575,000 after purchasing an additional 25,466 shares during the period. 94.01% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE APY traded up $0.01 during trading hours on Thursday, reaching $28.98. The stock had a trading volume of 6,812 shares, compared to its average volume of 526,334. The business’s fifty day moving average is $28.19 and its two-hundred day moving average is $34.55. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.63 and a quick ratio of 1.47. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.46 and a beta of 2.28. Apergy Corp has a twelve month low of $23.80 and a twelve month high of $46.11.

Apergy (NYSE:APY) last issued its earnings results on Wednesday, July 24th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $306.05 million during the quarter, compared to analyst estimates of $310.64 million. Apergy had a return on equity of 10.86% and a net margin of 7.60%. The firm’s revenue was up .1% compared to the same quarter last year. Sell-side analysts forecast that Apergy Corp will post 1.35 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on the company. Jefferies Financial Group decreased their target price on Apergy from $48.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Zacks Investment Research cut Apergy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 3rd. Bank of America reissued a “buy” rating and issued a $40.00 price objective (down from $51.00) on shares of Apergy in a research report on Tuesday, June 25th. Barclays set a $39.00 price objective on Apergy and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Citigroup cut Apergy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $41.00 to $34.00 in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $40.90.

About Apergy

Apergy Corporation provides engineered equipment and technologies that help companies drill for and produce oil and gas worldwide. The company operates through two segments, Production & Automation Technologies and Drilling Technologies. The Production & Automation Technologies segment offers artificial lift equipment and solutions, including rod pumping systems, electric submersible pump systems, progressive cavity pumps, and drive systems and plunger lifts; and automation and digital equipment, software, and industrial Internet of things solutions for downhole monitoring, wellsite productivity enhancement, and asset integrity management.

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Institutional Ownership by Quarter for Apergy (NYSE:APY)

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