Kornitzer Capital Management Inc. KS Reduces Stake in Apogee Enterprises, Inc. (NASDAQ:APOG)

Kornitzer Capital Management Inc. KS reduced its holdings in shares of Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) by 37.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,500 shares of the industrial products company's stock after selling 10,900 shares during the period. Kornitzer Capital Management Inc. KS owned 0.08% of Apogee Enterprises worth $1,295,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Apogee Enterprises during the first quarter worth approximately $747,000. Acadian Asset Management LLC acquired a new stake in shares of Apogee Enterprises during the 2nd quarter worth approximately $3,547,000. Renaissance Technologies LLC increased its stake in shares of Apogee Enterprises by 1,004.1% in the 2nd quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company's stock valued at $4,567,000 after acquiring an additional 66,100 shares in the last quarter. Quest Partners LLC lifted its position in shares of Apogee Enterprises by 115,311.1% during the 2nd quarter. Quest Partners LLC now owns 10,387 shares of the industrial products company's stock valued at $653,000 after acquiring an additional 10,378 shares during the period. Finally, American Century Companies Inc. boosted its stake in Apogee Enterprises by 23.2% during the second quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company's stock worth $33,225,000 after acquiring an additional 99,495 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Apogee Enterprises Stock Up 2.8 %

APOG stock traded up $2.33 during midday trading on Friday, reaching $86.03. 190,336 shares of the company's stock traded hands, compared to its average volume of 142,130. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12. The firm's fifty day moving average price is $72.61 and its 200-day moving average price is $66.74. Apogee Enterprises, Inc. has a 52 week low of $43.56 and a 52 week high of $86.22. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 18.11 and a beta of 0.97.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last posted its earnings results on Friday, October 4th. The industrial products company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.23 by $0.21. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The company had revenue of $342.40 million during the quarter, compared to the consensus estimate of $335.31 million. During the same period in the previous year, the firm posted $1.36 earnings per share. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts forecast that Apogee Enterprises, Inc. will post 5.06 earnings per share for the current fiscal year.

Apogee Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Tuesday, October 22nd were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 1.16%. Apogee Enterprises's dividend payout ratio (DPR) is currently 21.05%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on APOG shares. DA Davidson lifted their price target on shares of Apogee Enterprises from $65.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, October 8th. StockNews.com raised Apogee Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, October 15th.

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).