Apogee Enterprises (NASDAQ:APOG) Shares Down 5.4% – Here’s What Happened

Apogee Enterprises, Inc. (NASDAQ:APOG)’s share price was down 5.4% during mid-day trading on Tuesday . The company traded as low as $38.02 and last traded at $38.1350. Approximately 7,136 shares were traded during trading, a decline of 97% from the average daily volume of 251,026 shares. The stock had previously closed at $40.33.

Wall Street Analyst Weigh In

Several research analysts have commented on APOG shares. Wall Street Zen upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Zacks Research upgraded shares of Apogee Enterprises from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings raised shares of Apogee Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Apogee Enterprises currently has an average rating of “Buy” and a consensus target price of $70.50.

Apogee Enterprises Stock Performance

The company has a 50 day moving average of $41.31 and a two-hundred day moving average of $38.28. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.76 and a quick ratio of 1.34. The company has a market capitalization of $789.35 million, a PE ratio of 11.86, a PEG ratio of 1.14 and a beta of 1.15.

Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings data on Friday, June 26th. The industrial products company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. Apogee Enterprises had a return on equity of 14.72% and a net margin of 4.88%.The business had revenue of $342.68 million during the quarter, compared to analyst estimates of $333.84 million. During the same quarter last year, the firm posted ($0.13) earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Apogee Enterprises has set its FY 2027 guidance at 2.700-3.250 EPS. As a group, equities research analysts predict that Apogee Enterprises, Inc. will post 2.96 earnings per share for the current year.

Apogee Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Tuesday, July 14th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, July 14th. This represents a $1.08 annualized dividend and a yield of 2.9%. Apogee Enterprises’s payout ratio is presently 33.86%.

Hedge Funds Weigh In On Apogee Enterprises

Several large investors have recently made changes to their positions in APOG. Royal Bank of Canada boosted its position in shares of Apogee Enterprises by 40.3% in the 1st quarter. Royal Bank of Canada now owns 8,515 shares of the industrial products company’s stock worth $395,000 after purchasing an additional 2,447 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Apogee Enterprises by 24.0% in the first quarter. AQR Capital Management LLC now owns 59,999 shares of the industrial products company’s stock worth $2,780,000 after acquiring an additional 11,608 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Apogee Enterprises by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,992 shares of the industrial products company’s stock worth $602,000 after acquiring an additional 556 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Apogee Enterprises by 1,074.3% during the first quarter. Millennium Management LLC now owns 320,220 shares of the industrial products company’s stock valued at $14,836,000 after acquiring an additional 292,952 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in Apogee Enterprises by 120.3% in the 1st quarter. Jane Street Group LLC now owns 79,281 shares of the industrial products company’s stock worth $3,673,000 after purchasing an additional 43,297 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

About Apogee Enterprises

Apogee Enterprises, Inc is a diversified manufacturer and distributor of value-added architectural products and services. The company specializes in the design, fabrication and installation of high-performance glass, framing systems, curtain walls, skylights and other building envelope solutions. Its operations span three primary platforms—Architectural Framing Systems, Architectural Glass and Architectural Services—enabling Apogee to deliver complete, integrated façade systems for new construction, renovation and retrofit projects.

Headquartered in Minneapolis, Minnesota, Apogee traces its roots to the mid-20th century and today serves commercial, institutional and residential markets across North America and Europe.