Legato Capital Management LLC Purchases Shares of 7,500 Apogee Enterprises, Inc. (APOG)
Legato Capital Management LLC purchased a new stake in Apogee Enterprises, Inc. (NASDAQ:APOG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 7,500 shares of the industrial products company’s stock, valued at approximately $426,000.
Several other large investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new stake in shares of Apogee Enterprises during the first quarter valued at about $146,000. State of Alaska Department of Revenue raised its stake in shares of Apogee Enterprises by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,180 shares of the industrial products company’s stock valued at $189,000 after buying an additional 60 shares during the last quarter. Teza Capital Management LLC bought a new stake in shares of Apogee Enterprises during the first quarter valued at about $234,000. OLD National Bancorp IN bought a new stake in shares of Apogee Enterprises during the second quarter valued at about $234,000. Finally, Creative Planning raised its stake in shares of Apogee Enterprises by 0.3% in the second quarter. Creative Planning now owns 4,228 shares of the industrial products company’s stock valued at $240,000 after buying an additional 11 shares during the last quarter.
Apogee Enterprises, Inc. (NASDAQ:APOG) opened at 52.86 on Monday. The company has a market capitalization of $1.52 billion, a P/E ratio of 18.10 and a beta of 1.58. The company has a 50-day moving average of $55.56 and a 200 day moving average of $55.96. Apogee Enterprises, Inc. has a 12-month low of $39.88 and a 12-month high of $61.00.
Apogee Enterprises (NASDAQ:APOG) last issued its earnings results on Thursday, June 22nd. The industrial products company reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.09. Apogee Enterprises had a return on equity of 18.59% and a net margin of 7.39%. The company had revenue of $272.30 million for the quarter, compared to the consensus estimate of $271.13 million. During the same quarter in the prior year, the company posted $0.61 EPS. Apogee Enterprises’s revenue was up 9.9% compared to the same quarter last year. Equities research analysts forecast that Apogee Enterprises, Inc. will post $3.38 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 25th. Investors of record on Monday, July 10th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.06%. Apogee Enterprises’s dividend payout ratio is 19.24%.
Several brokerages have recently issued reports on APOG. ValuEngine upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. BidaskClub downgraded shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Sidoti assumed coverage on shares of Apogee Enterprises in a report on Thursday, May 25th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Zacks Investment Research raised shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Friday, April 21st. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $64.75.
In related news, CEO Joseph F. Puishys sold 100,000 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $55.97, for a total transaction of $5,597,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jerome L. Davis sold 18,706 shares of the company’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $55.04, for a total transaction of $1,029,578.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,706 shares of company stock valued at $11,114,178. 3.10% of the stock is owned by company insiders.
Apogee Enterprises Company Profile
Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.
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