Cramer Rosenthal Mcglynn LLC Sells 97,195 Shares of Apergy Corp (NYSE:APY)

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Cramer Rosenthal Mcglynn LLC lowered its holdings in Apergy Corp (NYSE:APY) by 6.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,314,015 shares of the company’s stock after selling 97,195 shares during the quarter. Apergy accounts for about 1.2% of Cramer Rosenthal Mcglynn LLC’s investment portfolio, making the stock its 25th biggest position. Cramer Rosenthal Mcglynn LLC owned about 1.70% of Apergy worth $44,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of APY. Farmers National Bank bought a new stake in Apergy in the first quarter valued at about $27,000. Meeder Asset Management Inc. increased its stake in Apergy by 136.0% in the second quarter. Meeder Asset Management Inc. now owns 925 shares of the company’s stock valued at $31,000 after acquiring an additional 533 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in Apergy in the second quarter valued at about $35,000. Bremer Bank National Association bought a new stake in Apergy in the first quarter valued at about $41,000. Finally, Sun Life Financial INC bought a new stake in Apergy in the second quarter valued at about $86,000. 94.01% of the stock is currently owned by institutional investors and hedge funds.

APY has been the topic of a number of analyst reports. Bank of America reissued a “buy” rating and issued a $40.00 target price (down previously from $51.00) on shares of Apergy in a research note on Tuesday, June 25th. Barclays set a $39.00 target price on shares of Apergy and gave the company a “buy” rating in a research note on Friday, July 26th. Citigroup cut shares of Apergy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $41.00 to $34.00 in a research note on Tuesday, July 9th. Jefferies Financial Group decreased their price objective on shares of Apergy from $48.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. Finally, Wells Fargo & Co decreased their price objective on shares of Apergy from $39.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $40.90.

Apergy stock traded down $0.18 during trading hours on Friday, hitting $28.63. 17,356 shares of the stock were exchanged, compared to its average volume of 475,842. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.47 and a current ratio of 2.63. The stock has a market capitalization of $2.27 billion, a P/E ratio of 19.88, a P/E/G ratio of 1.46 and a beta of 2.28. Apergy Corp has a 12 month low of $23.80 and a 12 month high of $46.11. The business’s 50-day moving average is $28.19 and its two-hundred day moving average is $34.55.

Apergy (NYSE:APY) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The firm had revenue of $306.05 million for the quarter, compared to analysts’ expectations of $310.64 million. Apergy had a net margin of 7.60% and a return on equity of 10.86%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts predict that Apergy Corp will post 1.35 earnings per share for the current fiscal year.

Apergy Company Profile

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.

Further Reading: Outstanding Shares, Buying and Selling Stocks

Institutional Ownership by Quarter for Apergy (NYSE:APY)

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