Apogee Enterprises Inc. (APOG) Sees Unusually-High Trading Volume
Apogee Enterprises Inc. (NASDAQ:APOG) saw unusually-high trading volume on Tuesday . Approximately 600,288 shares changed hands during 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.
APOG has been the subject of a number of research reports. Zacks Investment Research raised Apogee Enterprises from a “sell” rating to a “hold” rating in a research report on Tuesday, June 7th. Goldman Sachs Group Inc. downgraded Apogee Enterprises from a “buy” rating to a “neutral” rating and lowered their price target for the company from $53.00 to $50.00 in a research report on Monday.
The stock’s 50 day moving average price is $44.97 and its 200-day moving average price is $41.96. The stock has a market capitalization of $1.34 billion and a PE ratio of 19.23.
Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Wednesday, June 22nd. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.12. During the same period in the previous year, the company posted $0.41 earnings per share. The company had revenue of $247.88 million for the quarter. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts forecast that Apogee Enterprises Inc. will post $2.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Tuesday, July 12th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, July 8th.
In other news, CFO James S. Porter sold 2,500 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $46.14, for a total transaction of $115,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph F. Puishys sold 75,000 shares of the firm’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $45.95, for a total value of $3,446,250.00. Following the sale, the chief executive officer now directly owns 290,553 shares of the company’s stock, valued at $13,350,910.35. The disclosure for this sale can be found here.
Several large investors recently added to or reduced their stakes in APOG. Advisors Asset Management Inc. raised 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. California Public Employees Retirement System raised its stake in Apogee Enterprises by 3.4% in the fourth quarter. California Public Employees Retirement System now owns 69,300 shares of the company’s stock valued at $3,015,000 after buying an additional 2,300 shares in the last quarter. Rhumbline Advisers raised its stake in Apogee Enterprises by 8.6% in the fourth quarter. Rhumbline Advisers now owns 37,636 shares of the company’s stock valued at $1,638,000 after buying an additional 2,995 shares in the last quarter. Nationwide Fund Advisors raised its stake in Apogee Enterprises by 9.9% in the fourth quarter. Nationwide Fund Advisors now owns 72,079 shares of the company’s stock valued at $3,136,000 after buying an additional 6,479 shares in the last quarter. Finally, Trexquant Investment LP raised its stake in 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 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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