Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) reached a new 52-week low during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $40.03 and last traded at $40.08, with a volume of 447725 shares traded. The stock had previously closed at $45.92.
The industrial products company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.01). Apogee Enterprises had a net margin of 7.14% and a return on equity of 23.14%. The business had revenue of $345.69 million for the quarter, compared to analyst estimates of $331.82 million. During the same quarter in the previous year, the company posted $1.14 earnings per share. The business's revenue for the quarter was down 4.4% on a year-over-year basis.
Apogee Enterprises Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Tuesday, May 13th. Apogee Enterprises's payout ratio is 26.80%.
Wall Street Analysts Forecast Growth
APOG has been the subject of a number of analyst reports. Singular Research raised Apogee Enterprises to a "moderate buy" rating in a research note on Tuesday, January 14th. DA Davidson decreased their target price on Apogee Enterprises from $75.00 to $62.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Sidoti upgraded shares of Apogee Enterprises from a "neutral" rating to a "buy" rating in a research report on Friday, January 10th. Finally, StockNews.com lowered shares of Apogee Enterprises from a "buy" rating to a "hold" rating in a research note on Friday.
Read Our Latest Stock Analysis on Apogee Enterprises
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC raised its position in shares of Apogee Enterprises by 2.2% during the first quarter. SummerHaven Investment Management LLC now owns 13,185 shares of the industrial products company's stock worth $611,000 after purchasing an additional 282 shares during the period. Bank of Montreal Can increased its position in shares of Apogee Enterprises by 4.0% during the fourth quarter. Bank of Montreal Can now owns 7,734 shares of the industrial products company's stock worth $552,000 after acquiring an additional 298 shares in the last quarter. KBC Group NV raised its holdings in shares of Apogee Enterprises by 46.7% during the fourth quarter. KBC Group NV now owns 1,282 shares of the industrial products company's stock worth $92,000 after acquiring an additional 408 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Apogee Enterprises by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,436 shares of the industrial products company's stock worth $888,000 after acquiring an additional 412 shares during the period. Finally, Sterling Capital Management LLC lifted its position in Apogee Enterprises by 6.5% in the 4th quarter. Sterling Capital Management LLC now owns 6,986 shares of the industrial products company's stock valued at $499,000 after acquiring an additional 427 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.
Apogee Enterprises Stock Performance
The stock's 50 day moving average is $46.55 and its two-hundred day moving average is $61.67. The stock has a market capitalization of $872.41 million, a price-to-earnings ratio of 8.87 and a beta of 0.85. The company has a current ratio of 1.63, a quick ratio of 1.27 and a debt-to-equity ratio of 0.52.
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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