Louisiana State Employees Retirement System lowered its position in shares of Apogee Enterprises Inc (NASDAQ:APOG) by 7.2% in the fourth quarter, Holdings Channel reports. The firm owned 9,090 shares of the industrial products company’s stock after selling 710 shares during the period. Louisiana State Employees Retirement System’s holdings in Apogee Enterprises were worth $295,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Northern Trust Corp raised its holdings in Apogee Enterprises by 0.4% in the second quarter. Northern Trust Corp now owns 372,942 shares of the industrial products company’s stock valued at $16,200,000 after buying an additional 1,542 shares during the period. Millennium Management LLC purchased a new stake in Apogee Enterprises during the 3rd quarter worth $11,984,000. Tocqueville Asset Management L.P. increased its holdings in Apogee Enterprises by 35.3% in the 4th quarter. Tocqueville Asset Management L.P. now owns 219,625 shares of the industrial products company’s stock valued at $7,138,000 after purchasing an additional 57,325 shares in the last quarter. FMR LLC raised its position in Apogee Enterprises by 492.9% in the first quarter. FMR LLC now owns 147,702 shares of the industrial products company’s stock valued at $5,537,000 after purchasing an additional 122,790 shares during the period. Finally, Morgan Stanley boosted its position in shares of Apogee Enterprises by 739.6% in the second quarter. Morgan Stanley now owns 122,921 shares of the industrial products company’s stock worth $5,339,000 after buying an additional 108,280 shares during the period. 87.08% of the stock is owned by hedge funds and other institutional investors.
APOG has been the topic of several analyst reports. DA Davidson raised their target price on Apogee Enterprises from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, December 20th. ValuEngine upgraded Apogee Enterprises from a “strong sell” rating to a “sell” rating in a report on Friday, December 27th. Finally, BidaskClub downgraded shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.00.
Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings results on Thursday, December 19th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.19). Apogee Enterprises had a return on equity of 14.60% and a net margin of 2.71%. The firm had revenue of $337.90 million for the quarter, compared to analysts’ expectations of $357.83 million. During the same period last year, the firm earned $0.80 EPS. The business’s quarterly revenue was down 5.5% on a year-over-year basis. On average, analysts forecast that Apogee Enterprises Inc will post 2.22 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.1875 per share. The ex-dividend date is Friday, January 31st. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.18. This represents a $0.75 annualized dividend and a dividend yield of 2.27%. Apogee Enterprises’s dividend payout ratio (DPR) is currently 23.65%.
In other Apogee Enterprises news, SVP Brent C. Jewell bought 2,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $32.07 per share, with a total value of $64,140.00. 3.50% of the stock is owned by company insiders.
Apogee Enterprises Profile
Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.
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