Kornitzer Capital Management Inc. KS Continues to Hold Stake in Apogee Enterprises, Inc. (APOG)
Kornitzer Capital Management Inc. KS continued to hold its position in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 26,700 shares of the industrial products company’s stock at the end of the second quarter. Kornitzer Capital Management Inc. KS’s holdings in Apogee Enterprises were worth $1,518,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new position in shares of Apogee Enterprises during the first quarter worth about $146,000. State of Alaska Department of Revenue increased its position 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 worth $189,000 after buying an additional 60 shares during the period. Janney Capital Management LLC purchased a new position in shares of Apogee Enterprises during the second quarter worth about $208,000. Teza Capital Management LLC purchased a new position in shares of Apogee Enterprises during the first quarter worth about $234,000. Finally, OLD National Bancorp IN purchased a new position in shares of Apogee Enterprises during the second quarter worth about $234,000.
Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Thursday, June 22nd. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by $0.09. The company had revenue of $272.30 million for the quarter, compared to analysts’ expectations of $271.13 million. Apogee Enterprises had a net margin of 7.39% and a return on equity of 18.59%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the company posted $0.61 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, July 10th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, July 6th. Apogee Enterprises’s dividend payout ratio (DPR) is presently 19.24%.
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A number of research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Zacks Investment Research upgraded shares of Apogee Enterprises from a “hold” rating to a “strong-buy” rating and set a $65.00 price target on the stock in a research report on Monday, June 19th. ValuEngine upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Sidoti assumed coverage on shares of Apogee Enterprises in a research report on Thursday, May 25th. They issued a “buy” rating and a $70.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Apogee Enterprises currently has a consensus rating of “Buy” and an average target price of $64.75.
In other news, Director Jerome L. Davis sold 18,706 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.10% of the company’s stock.
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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