Connor Clark & Lunn Investment Management Ltd. cut its stake in Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) by 42.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,463 shares of the industrial products company's stock after selling 27,354 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.17% of Apogee Enterprises worth $2,604,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Endeavor Private Wealth Inc. purchased a new stake in shares of Apogee Enterprises during the 4th quarter valued at about $32,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Apogee Enterprises during the third quarter valued at approximately $58,000. KBC Group NV lifted its position 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 purchasing an additional 408 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Apogee Enterprises by 44.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,293 shares of the industrial products company's stock valued at $91,000 after purchasing an additional 396 shares during the period. Finally, Millburn Ridgefield Corp acquired a new stake in Apogee Enterprises during the 3rd quarter valued at $131,000. Institutional investors and hedge funds own 94.05% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on APOG. DA Davidson decreased 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. StockNews.com downgraded Apogee Enterprises from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 9th. Sidoti upgraded Apogee Enterprises from a "neutral" rating to a "buy" rating in a research note on Friday, January 10th. Finally, Singular Research upgraded shares of Apogee Enterprises to a "moderate buy" rating in a research note on Tuesday, January 14th.
Get Our Latest Analysis on Apogee Enterprises
Apogee Enterprises Stock Performance
NASDAQ:APOG traded down $0.36 during trading hours on Friday, reaching $46.73. 892,729 shares of the stock were exchanged, compared to its average volume of 171,310. Apogee Enterprises, Inc. has a 52 week low of $45.33 and a 52 week high of $87.93. The company has a quick ratio of 1.27, a current ratio of 1.63 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1.03 billion, a P/E ratio of 10.43 and a beta of 1.04. The firm has a 50 day simple moving average of $50.25 and a 200-day simple moving average of $66.18.
Apogee Enterprises (NASDAQ:APOG - Get Free Report) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a net margin of 7.14% and a return on equity of 23.14%. The firm had revenue of $341.30 million during the quarter, compared to analyst estimates of $332.27 million. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The firm's revenue for the quarter was up .5% compared to the same quarter last year. As a group, sell-side analysts forecast that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current fiscal year.
Apogee Enterprises Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Tuesday, January 28th were 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 yield of 2.23%. The ex-dividend date was Tuesday, January 28th. Apogee Enterprises's payout ratio is presently 23.21%.
Apogee Enterprises Profile
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Free Report)
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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