Apogee Enterprises Inc. (APOG) Sees Strong Trading Volume
Apogee Enterprises Inc. (NASDAQ:APOG) shares saw unusually-strong trading volume on Tuesday . Approximately 600,288 shares were traded during mid-day trading, an increase of 63% from the previous session’s volume of 369,112 shares.The stock last traded at $46.25 and had previously closed at $46.63.
A number of analysts have commented on APOG shares. Zacks Investment Research upgraded shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a research note on Tuesday, June 7th. Goldman Sachs Group Inc. cut shares of Apogee Enterprises from a “buy” rating to a “neutral” rating and cut their price target for the company from $53.00 to $50.00 in a research note on Monday.
The stock has a 50 day moving average price of $44.91 and a 200-day moving average price of $41.92. The company has a market capitalization of $1.33 billion and a P/E ratio of 19.02.
Apogee Enterprises (NASDAQ:APOG) last posted its earnings results on Wednesday, June 22nd. The company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.12. The firm earned $247.88 million during the quarter. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. On average, equities analysts forecast that Apogee Enterprises Inc. will post $2.83 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Tuesday, July 12th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, July 8th.
In other news, CFO James S. Porter sold 2,500 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $46.14, for a total value of $115,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Ernest Weiss sold 10,000 shares of the business’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $46.66, for a total value of $466,600.00. The disclosure for this sale can be found here.
A number of institutional investors recently modified their holdings of the stock. Trexquant Investment LP boosted its position in shares of Apogee Enterprises by 25.1% in the fourth quarter. Trexquant Investment LP now owns 38,986 shares of the company’s stock valued at $1,696,000 after buying an additional 7,824 shares during the period. Advisors Asset Management Inc. increased its stake in Apogee Enterprises by 1.3% in the fourth quarter. Advisors Asset Management Inc. now owns 23,076 shares of the company’s stock valued at $1,004,000 after buying an additional 304 shares in the last quarter. Fiduciary Management Associates LLC increased its stake in Apogee Enterprises by 11.3% in the fourth quarter. Fiduciary Management Associates LLC now owns 413,917 shares of the company’s stock valued at $18,010,000 after buying an additional 42,025 shares in the last quarter. Wells Fargo & Company MN increased its stake in Apogee Enterprises by 32.3% in the fourth quarter. Wells Fargo & Company MN now owns 875,658 shares of the company’s stock valued at $38,100,000 after buying an additional 213,787 shares in the last quarter. Finally, Morgan Stanley increased its stake in Apogee Enterprises by 38.3% in the fourth quarter. Morgan Stanley now owns 284,012 shares of the company’s stock valued at $12,357,000 after buying an additional 78,635 shares in the last quarter.
Apogee Enterprises, Inc is engaged in the design and development of value-added glass solutions for enclosing commercial buildings and framing art. The Company operates in four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies. The Architectural Glass segment fabricates glass used in customized window and curtainwall systems comprising the outside skin of buildings.
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