Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 762,000 shares, a drop of 17.9% from the December 15th total of 927,700 shares. Approximately 3.5% of the company's shares are sold short. Based on an average daily trading volume, of 186,600 shares, the short-interest ratio is currently 4.1 days.
Apogee Enterprises Stock Up 2.4 %
Shares of APOG traded up $1.29 during trading hours on Friday, hitting $55.69. The stock had a trading volume of 315,497 shares, compared to its average volume of 426,299. Apogee Enterprises has a 1-year low of $49.58 and a 1-year high of $87.93. The firm has a market capitalization of $1.22 billion, a P/E ratio of 12.43 and a beta of 1.04. The firm has a 50 day simple moving average of $74.78 and a 200-day simple moving average of $70.44. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.63 and a quick ratio of 1.32.
Apogee Enterprises (NASDAQ:APOG - Get Free Report) last announced its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.08. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. The firm had revenue of $341.30 million during the quarter, compared to analysts' expectations of $332.27 million. During the same quarter last year, the firm posted $1.23 earnings per share. The company's revenue for the quarter was up .5% compared to the same quarter last year. Sell-side analysts predict that Apogee Enterprises will post 4.96 EPS for the current fiscal year.
Apogee Enterprises Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th will be issued a dividend of $0.26 per share. This is a boost from Apogee Enterprises's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Tuesday, January 28th. Apogee Enterprises's dividend payout ratio (DPR) is currently 22.32%.
Institutional Investors Weigh In On Apogee Enterprises
Several hedge funds and other institutional investors have recently made changes to their positions in APOG. Texas Permanent School Fund Corp increased its holdings in Apogee Enterprises by 32.7% during the 2nd quarter. Texas Permanent School Fund Corp now owns 25,648 shares of the industrial products company's stock worth $1,612,000 after purchasing an additional 6,319 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Apogee Enterprises by 23.2% during the second quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company's stock valued at $33,225,000 after buying an additional 99,495 shares during the last quarter. WINTON GROUP Ltd raised its position in Apogee Enterprises by 7.7% in the 2nd quarter. WINTON GROUP Ltd now owns 12,180 shares of the industrial products company's stock valued at $765,000 after buying an additional 870 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Apogee Enterprises by 1,004.1% during the 2nd quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company's stock valued at $4,567,000 after acquiring an additional 66,100 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Apogee Enterprises during the 2nd quarter worth $573,000. 94.05% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have commented on APOG. StockNews.com cut shares of Apogee Enterprises from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 9th. Singular Research raised Apogee Enterprises to a "moderate buy" rating in a research note on Tuesday. Sidoti upgraded Apogee Enterprises from a "neutral" rating to a "buy" rating in a report on Friday, January 10th. Finally, DA Davidson reduced their price objective on shares of Apogee Enterprises from $75.00 to $62.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th.
Read Our Latest Analysis on APOG
About Apogee Enterprises
(
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Apogee Enterprises, Inc provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).
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