DNB Asset Management AS trimmed its position in shares of Apogee Enterprises Inc (NASDAQ:APOG) by 75.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,720 shares of the industrial products company’s stock after selling 49,302 shares during the period. DNB Asset Management AS’s holdings in Apogee Enterprises were worth $650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp raised its holdings in Apogee Enterprises by 0.3% during the 2nd quarter. Northern Trust Corp now owns 426,519 shares of the industrial products company’s stock valued at $20,545,000 after buying an additional 1,380 shares during the period. Engaged Capital LLC raised its holdings in Apogee Enterprises by 49.3% during the 2nd quarter. Engaged Capital LLC now owns 1,491,020 shares of the industrial products company’s stock valued at $71,822,000 after buying an additional 492,086 shares during the period. California Public Employees Retirement System raised its holdings in Apogee Enterprises by 61.8% during the 2nd quarter. California Public Employees Retirement System now owns 58,867 shares of the industrial products company’s stock valued at $2,836,000 after buying an additional 22,484 shares during the period. Glenmede Trust Co. NA raised its holdings in Apogee Enterprises by 3.0% during the 2nd quarter. Glenmede Trust Co. NA now owns 835,930 shares of the industrial products company’s stock valued at $40,267,000 after buying an additional 24,677 shares during the period. Finally, Millennium Management LLC purchased a new stake in Apogee Enterprises during the 2nd quarter valued at $523,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

APOG stock opened at $37.60 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.33 and a current ratio of 1.73. Apogee Enterprises Inc has a twelve month low of $37.24 and a twelve month high of $51.33. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.17 and a beta of 1.50.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Tuesday, September 18th. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.09). Apogee Enterprises had a return on equity of 16.96% and a net margin of 5.81%. The business had revenue of $362.10 million during the quarter, compared to analysts’ expectations of $364.57 million. During the same quarter in the previous year, the business earned $0.60 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts predict that Apogee Enterprises Inc will post 3.2 earnings per share for the current fiscal year.

Apogee Enterprises announced that its board has authorized a share repurchase program on Wednesday, October 3rd that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 7th. Shareholders of record on Tuesday, October 23rd will be paid a $0.1575 dividend. The ex-dividend date of this dividend is Monday, October 22nd. This represents a $0.63 dividend on an annualized basis and a yield of 1.68%. Apogee Enterprises’s payout ratio is 20.32%.

In other Apogee Enterprises news, Director Herbert K. Parker bought 5,000 shares of Apogee Enterprises stock in a transaction on Thursday, September 27th. The shares were acquired at an average price of $41.52 per share, for a total transaction of $207,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.90% of the company’s stock.

APOG has been the topic of several recent research reports. Zacks Investment Research lowered Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. BidaskClub lowered Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, August 4th. ValuEngine lowered Apogee Enterprises from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Goldman Sachs Group initiated coverage on Apogee Enterprises in a report on Tuesday, October 2nd. They set a “neutral” rating and a $43.00 price target on the stock. Finally, TheStreet lowered Apogee Enterprises from a “b” rating to a “c+” rating in a report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $50.25.

About Apogee Enterprises

Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.

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Institutional Ownership by Quarter for Apogee Enterprises (NASDAQ:APOG)

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