Apogee Enterprises Inc. (APOG) Shares Up 2%
Apogee Enterprises Inc. (NASDAQ:APOG)’s share price shot up 2% during trading on Wednesday . The company traded as high as $46.99 and last traded at $46.96, with a volume of 165,948 shares. The stock had previously closed at $46.05.
A number of research firms have commented on APOG. Goldman Sachs Group Inc. cut shares of Apogee Enterprises from a “buy” rating to a “neutral” rating and cut their price target for the stock from $53.00 to $50.00 in a research note on Monday. Zacks Investment Research raised shares of Apogee Enterprises from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Tuesday, June 28th.
The firm has a 50 day moving average price of $45.00 and a 200 day moving average price of $42.00. The firm has a market capitalization of $1.36 billion and a PE ratio of 19.49.
Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings data on Wednesday, June 22nd. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.12. During the same period in the prior year, the company posted $0.41 earnings per share. The firm earned $247.88 million during the quarter. The business’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts predict that Apogee Enterprises Inc. will post $2.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Tuesday, July 12th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, July 8th.
In related news, Director Bernard P. Aldrich sold 6,072 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $47.23, for a total value of $286,780.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph F. Puishys sold 75,000 shares of the stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $45.95, for a total value of $3,446,250.00. Following the completion of the transaction, 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.
A number of hedge funds and institutional investors have recently bought and sold shares of APOG. Rhumbline Advisers increased its position 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 increased its position 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. Wells Fargo & Company MN increased its position 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. California Public Employees Retirement System increased its position 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. Finally, Fiduciary Management Associates LLC increased its position 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.
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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