Apogee Enterprises (NASDAQ:APOG) Sets New 52-Week Low - Here's Why

Shares of Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $48.77 and last traded at $49.07, with a volume of 5504 shares traded. The stock had previously closed at $49.47.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. DA Davidson dropped their price objective 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. StockNews.com downgraded Apogee Enterprises from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 9th. Sidoti upgraded Apogee Enterprises from a "neutral" rating to a "buy" rating in a research report on Friday, January 10th. Finally, Singular Research upgraded Apogee Enterprises to a "moderate buy" rating in a research report on Tuesday, January 14th.

Apogee Enterprises Stock Down 1.6 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 1.63 and a quick ratio of 1.27. The stock has a market capitalization of $1.06 billion, a P/E ratio of 10.76 and a beta of 1.01. The firm has a 50-day simple moving average of $59.15 and a 200 day simple moving average of $68.43.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last posted its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. The firm had revenue of $341.30 million during the quarter, compared to the consensus estimate of $332.27 million. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. The business's quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the company earned $1.23 earnings per share. On average, equities research analysts forecast that Apogee Enterprises, Inc. will post 4.97 EPS for the current year.

Apogee Enterprises Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th were paid a $0.26 dividend. This is a boost from Apogee Enterprises's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $1.04 annualized dividend and a dividend yield of 2.16%. Apogee Enterprises's dividend payout ratio is presently 23.21%.

Institutional Investors Weigh In On Apogee Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in APOG. CWM LLC increased its stake in shares of Apogee Enterprises by 19.9% in the third quarter. CWM LLC now owns 1,147 shares of the industrial products company's stock valued at $80,000 after buying an additional 190 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Apogee Enterprises by 64.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 73,733 shares of the industrial products company's stock valued at $5,162,000 after buying an additional 28,845 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Apogee Enterprises in the third quarter valued at about $38,740,000. Assenagon Asset Management S.A. increased its stake in shares of Apogee Enterprises by 70.8% in the third quarter. Assenagon Asset Management S.A. now owns 162,379 shares of the industrial products company's stock valued at $11,369,000 after buying an additional 67,295 shares during the period. Finally, Dakota Wealth Management acquired a new stake in Apogee Enterprises during the third quarter worth approximately $202,000. Institutional investors and hedge funds own 94.05% of the company's stock.

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).