Renaissance Technologies LLC Buys 81,400 Shares of Apogee Enterprises, Inc. (NASDAQ:APOG)

Renaissance Technologies LLC grew its stake in shares of Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) by 196.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 122,883 shares of the industrial products company's stock after acquiring an additional 81,400 shares during the period. Renaissance Technologies LLC owned about 0.56% of Apogee Enterprises worth $8,775,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of APOG. Bank of Montreal Can grew its position in Apogee Enterprises by 4.0% during the 4th quarter. Bank of Montreal Can now owns 7,734 shares of the industrial products company's stock worth $552,000 after purchasing an additional 298 shares in the last quarter. Federated Hermes Inc. grew its position in Apogee Enterprises by 2.6% in the fourth quarter. Federated Hermes Inc. now owns 53,679 shares of the industrial products company's stock worth $3,833,000 after acquiring an additional 1,354 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in Apogee Enterprises during the fourth quarter worth $228,000. Wells Fargo & Company MN raised its holdings in Apogee Enterprises by 13.8% during the fourth quarter. Wells Fargo & Company MN now owns 18,630 shares of the industrial products company's stock valued at $1,330,000 after buying an additional 2,255 shares in the last quarter. Finally, Integrated Quantitative Investments LLC acquired a new stake in shares of Apogee Enterprises in the fourth quarter worth about $1,050,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on APOG. Singular Research raised Apogee Enterprises to a "moderate buy" rating in a report on Tuesday, January 14th. Sidoti raised shares of Apogee Enterprises from a "neutral" rating to a "buy" rating in a report on Friday, January 10th. DA Davidson dropped their target price on shares of Apogee Enterprises from $75.00 to $62.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Finally, StockNews.com lowered shares of Apogee Enterprises from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 9th.

Apogee Enterprises Stock Performance

Apogee Enterprises stock traded up $1.12 during mid-day trading on Wednesday, reaching $46.73. The company had a trading volume of 9,627 shares, compared to its average volume of 190,641. The company has a 50 day moving average of $47.01 and a 200-day moving average of $62.53. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 10.43 and a beta of 0.85. The company has a quick ratio of 1.27, a current ratio of 1.63 and a debt-to-equity ratio of 0.52. Apogee Enterprises, Inc. has a 52 week low of $42.33 and a 52 week high of $87.93.

Apogee Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Tuesday, May 13th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.23%. Apogee Enterprises's dividend payout ratio (DPR) is currently 23.21%.

Apogee Enterprises Profile

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).