Apogee Enterprises (NASDAQ:APOG) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Apogee Enterprises (NASDAQ:APOG - Free Report) from a strong-buy rating to a buy rating in a report issued on Thursday morning.

Separately, DA Davidson cut their price objective on shares of Apogee Enterprises from $75.00 to $62.00 and set a "neutral" rating on the stock in a research note on Wednesday.

Apogee Enterprises Stock Performance

NASDAQ:APOG traded down $5.08 during trading hours on Thursday, hitting $52.52. 771,402 shares of the company were exchanged, compared to its average volume of 490,340. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 11.06 and a beta of 1.04. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.32. The company's 50 day moving average price is $77.45 and its 200-day moving average price is $70.72. Apogee Enterprises has a 52-week low of $51.15 and a 52-week high of $87.93.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last announced its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. The firm had revenue of $341.30 million during the quarter, compared to analysts' expectations of $332.27 million. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the business posted $1.23 earnings per share. As a group, research analysts forecast that Apogee Enterprises will post 5.06 earnings per share for the current year.

Apogee Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th will be paid a $0.26 dividend. This is an increase 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 1.98%. Apogee Enterprises's dividend payout ratio is presently 21.05%.

Hedge Funds Weigh In On Apogee Enterprises

Several institutional investors have recently made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in shares of Apogee Enterprises in the third quarter valued at approximately $33,000. GAMMA Investing LLC increased its holdings in Apogee Enterprises by 43.2% in the 3rd quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company's stock worth $38,000 after acquiring an additional 163 shares in the last quarter. Quarry LP increased its holdings in Apogee Enterprises by 959.4% in the 2nd quarter. Quarry LP now owns 731 shares of the industrial products company's stock worth $46,000 after acquiring an additional 662 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Apogee Enterprises during the third quarter worth $58,000. Finally, CWM LLC lifted its holdings in Apogee Enterprises by 19.9% during the third quarter. CWM LLC now owns 1,147 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 190 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Apogee Enterprises Company 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).